Whether you are a first-time buyer or a homeowner looking to relocate, you may be apprehensive about making such a significant change in 2021. Most people’s needs or wants when it comes to the ideal home have changed a lot over the past year. As people’s lifestyles, priorities, and habits change, you may now want more space for a home office, a garden, or even a completely new location when you buy a house.

What Has Changed in 2021?

Surprisingly, house prices have risen in the UK over the past year. The average house price is now around 10% higher than it was at the same time last year. A significant contributing factor to this has been the stamp duty holiday introduced last year.

You may be wondering what the stamp duty holiday is. Well, in July 2020, a stamp duty break was introduced. This means no tax would be charged on the first £500,000 of the purchase price of a residential property. As a result, homebuyers could make big savings when purchasing a property and many jumped at the chance, which consequently drove up the average house price.

However, a more significant change has possibly been in our priorities and needs. More than ever, people want to live in rural and peaceful locations rather than bustling cities. This is due to the fact that more space, especially outdoor space, has become invaluable to many. More indoor space has also become essential, with many of us needing a home office and schooling space.

Financing Your Home in 2021

As with any other time, there are important factors to consider when buying a home, such as your employment situation, whether you have enough savings for a deposit, and how to choose the right mortgage provider.

Deciding when and how to secure finance for your home can be stressful, but using a mortgage broker can be an effective way of making this process easier. A free mortgage broker such as Trussle provides a simple, understandable, and fair mortgage advice service. They will compare the best mortgage deals and find the right rate for you.

With so much often conflicting information out there, using a mortgage advisor is a great way of getting a clear and transparent picture of what is available to you in terms of mortgage options. As there have been significant changes in 2021, from the current market trends, to what the outlook for the future is, having some certainty can be a very valuable thing.

When to Buy Your Home?

So, if you have decided to take the plunge and buy a home in 2021, when is the right moment? More than ever, timing is everything! It is vital if you want to take advantage of the stamp duty holiday, the deadline for the current rate is 20 June 2021 as, from 1 July-30 September, no tax will be applied to the first £250,000 of your mortgage.

Like any other year, there are pros and cons when you buy a house in 2021. Ultimately, it depends on your personal needs, lifestyle, and financial situation.