Affording your first property is a big step, and being able to get your foot on the property ladder is always a mark of success you can feel proud of. After all, it’s very hard for young adults to manage that these days! And from time to time, you may think that it’s never going to be manageable for you. 

So, what can you do to try and level the playing field? Well, there’s a lot more wiggle room in the housing market than you may realize. You’ve just got to find the right opportunity, use the right methods, and wait for the perfect moment. And here’s how to do all of those things. 

Start as Small as Possible

The smaller the home you’re thinking of buying, the better. It might not be your dream home, sure, but there’s no way you could realistically afford that straight out of the gate. But when you buy small, you have the chance to establish your credit without breaking the bank. And that will count for a lot when you want to move in a few years time. 

Similarly, even a small home can still become more valuable over time. The value can increase by just 2-3% but you’ll still walk away with more money than you put into it originally. The mortgage will be paid off, and you’ll have sizable savings to put to good use elsewhere too. 

You’ve Got More Finance Options Than You Realize

If you’ve got no trust fund or inheritance to rely on, and your job doesn’t quite pay enough for you to reliably save, it can feel like you’ll never get out of renting. However, this simply isn’t the case in the modern world! There are a lot more finance options than you realize that can help you apply for that mortgage with confidence. 

For example, you could turn to crowdfunding your real estate acquisition. It’ll make getting pre-approved for a mortgage much easier, and you won’t have to turn to loan sharks and other lenders in the process. Of course, you’ll need to use a reliable crowdfunding platform, so check out reviews such as DiversyFund vs. Fundrise to allow yourself to make a properly informed decision. 

Rent Out Your Space

Finally, another good way to ensure you’ll be able to pay off the mortgage is by renting any spare space out. If you go for a small two-bed apartment, you can rent out the second room while still comfortably living in the first, and get a bonus payout each month. 

A roommate can help to lower the mortgage payments as well; you’ll have a lot more to put towards the debt each month, so you won’t have so much interest to worry about when the term is up or when you decide to sell. 

Getting your foot on the property ladder is hard, of course. But when you’ve researched the market, you’ll have a much better chance as a first-time buyer.