In November’s budget statement, the government scrapped stamp duty for first time buyers on properties costing less than £300,000.
With the average first time buyer paying around £1.5k in stamp duty, this could make home ownership more affordable for thousands of people.
But there’s still a hefty amount to pay when you buy a home, of course, and the challenge of saving for it is still daunting for most first time buyers.
Fortunately, serious saving doesn’t have to mean staying in every night. And it doesn’t have to mean shivering through winter evenings with the heating off to save a few extra pennies.
Once you get into the habit of saving regularly, it’ll stop being a chore. You won’t even notice you’re doing it.