For many first-time buyers, the question of when exactly is the right time to enter the market, is one without a one-size-fits-all answer, and especially now, given the current backdrop of market volatility.
On the face of it, the temptation might be to watch and wait, but with rental costs now accounting for an average of 28.3 % of pre-tax earnings, biting the bullet is beginning to make more financial sense to more would-be buyers, than had previously been inclined to 'take the leap.'
Of course, this reality does need to be weighed against the stumbling block of greater stress testing on borrowing, together with higher interest rates - the effects of which are likely to set a borrower back over £300 more per month for a £200k mortgage, than it might have done at this time last year.
That said, first time buyers may find some consolation in the increase in availability of 0% and 95% mortgage products - something which has certainly helped put home ownership back within the realms of possibility, along with greater buyer willingness to compromise on features and location.
This is a trend that is playing out, especially, in commuter towns such as Maidenhead, where housing stock is thankfully proving sufficient to prop up what should, on paper, be a struggling corner of the market.
Among the town's options for one and two bedroom first-time buyer homes, is this attractive one bedroom maisonette in Portlock Road (main image and below.)
Conveniently located for the town centre and mainline railway station, the property has been built to a high level of finish and specification in 2015 by Amberleigh Homes, and represents an ideal first home or investment for those with a finger on the pulse of this up-and-coming market town.
Summary
With much uncertainty and concern circulating around the inflationary crisis, those who are in a place of needing to move, might find themselves caught in a viscous second-guessing circle of whether to stick… or twist.
In this instance, context remains all important, but there are still circumstances where the laws of 'now or never' stand not only to reason, but to reinforce the historically sound investment that property represents.
For more information on Maidenhead's property market, please email Braxton on property@braxtons.co.uk or call 01628 674234.