Seeking Advice: First Home Purchase Challenges

Dear Forum Community,

I’m reaching out to seek some guidance and perhaps some shared experiences regarding our family’s pursuit of our first home.

We’ve been eagerly exploring the possibilities of homeownership, particularly benefiting from the First Home Scheme. Excited as we are about this opportunity, we’ve encountered a rather challenging hurdle - finding a property within our budget, especially in the bustling London market.

Our broker has been immensely helpful, indicating that we could borrow around 400k. However, despite our diligent search and efforts, it seems like finding a suitable three-bedroom property within this budget in London is proving to be nearly impossible.

Our family consists of my parents, my brother, and myself, and we are really eager to find a place we can call our own. I’ve been in touch with various agents and scouring listings to find something affordable, but unfortunately, we’ve come up short thus far.

I’m turning to this forum in the hopes that some of you might have navigated similar challenges or have insights into avenues we could explore further. Any advice, tips, or even shared experiences would be greatly appreciated.

Thank you so much for taking the time to read this, and I look forward to any input or suggestions you might have.

Do you have a deposit on top of the £400k? It depends where youre prepared to live, but parts of Greenford (zone 4) have reasonable 3 bed houses starting at around that price.

Well, its your choice, you want to live in London you have to pay London prices. Where I am from, a 3-bed costs £120k.