The average first time buyer’s budget of 165,000 Euro will get you different homes depending on the area. You could get a four bedroom detached house in Scotland, a studio flat in London, a three bedroom detached bungalow in Wales, and so on. In places like London, you will receive a much smaller living area for the same price as you would in less populated areas. Unfortunately, many struggle to even get the means to purchase any home.
Key Takeaways:
- A first time home buyer has many options, though small, for a home in the UK
- One of the options is a studio flat in London, showing the obvious lack of room and exorbitant prices in London
- If a person is willing to live further out from a city center, the size of house and yard increases exponentially.
“First-time buyers also have an average household income of £40,826, suggesting that few people are able to buy alone since the average salary is £26,500, according to figures from the Office for National Statistics.”
Read more: http://www.dailymail.co.uk/property/article-5143409/Ten-homes-average-UK-time-buyer-afford.html