Is It Easy for First-time Buyers to Purchase a House in Wigan?

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Is It Easy for First-time Buyers to Purchase a House in Wigan?
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Buying a house may seem difficult for first-time buyers – whether in Wigan or elsewhere. There’s no denying there’s much to think about, from financing, helpful schemes, and other factors that affect the process.

However, the process can be made much easier and more efficient with the right knowledge and guidance. 

In this article, we’ll explore everything you need to know to achieve the goal of buying a house in Wigan. 

Wigan Property Prices

We’ll get started with the most important aspect of purchasing a property – the price. Current data indicates the following:

The average property asking price in Wigan is £208,802. However, the actual selling price average was £183,763.

This is further broken down by property type as below:

  • Semi-detached properties sold for an average of £170,278
  • Terraced properties sold for an average of £127,904
  • Detached properties sold for an average of 370,517.
  • Apartments/flats sold for an average of £96,429

So, ultimately the overall cost of a property would depend on the type of property required.

However, keep in mind that the above are just the average prices for property in Wigan. Factors such as location and condition are likely to have an effect on the overall price. 

Getting the finance to buy a property

It’s not always possible to purchase a property in cash. Cash house buyers are far and between, often reserved for individuals acting as investors. The vast majority of first-time buyers will need to explore financing options, whether that’s through mortgages, Rent to Buy, or other options. 

You may still need to make an up-front deposit, usually between 5-15% of the mortgage price. This will also affect the total monthly payments. Additionally, there may be different avenues for those looking to avoid interest. Regardless, the most popular way to finance a property purchase deal is through a mortgage. 

Ensure you conduct adequate research and read the terms and conditions before signing up for a long-term mortgage. 

Are there any schemes set up for Wigan buyers?

Getting on the property ladder isn’t easy; thankfully, the government is aware of this. As a result, certain schemes exist to make house buying easy for first-time buyers. There are two main schemes that can help.

Right to Buy

This scheme applies to those who live in a council house which is their main or only home, and have had a public sector landlord for a minimum of three years. They may be eligible for the Right to Buy scheme. The scheme, in essence, allows tenants to purchase their homes at a largely discounted price. This can make it far more affordable than buying a house on the market. 

Help to Buy

The other initiative that helps first-time buyers is Help to Buy. The requirements to take part in this scheme are as follows:

  • Pay a 5% minimum deposit of the property purchase price
  • Arrange a repayment mortgage of a minimum of 25% of the purchase price

You are then eligible to acquire an equity loan to cover between 5% and 20% of the total purchase price. This loan is interest-free for the first five years and can be paid back at any time. 

This helps to reduce the financial burden of getting a mortgage for the entire value of the property (Where 95% of the property price will be repaid and a 5% upfront deposit is required). 

Regardless of the scheme – acquiring property and being able to make repayments is important. Therefore, it’s important to be realistic and not take on a mortgage that is not feasible in the long run. Having said that, properties are often great investment vehicles; selling at a later stage can result in large profits if the value of the property increases. 

Should first-time buyers consider a flat in Wigan?

As mentioned earlier, the average selling price for flats in Wigan is £96,429. Purchasing a property at this price may be much more affordable than a house at double the price. Although, terraced properties do sell for £127,904, which is only around £30,000. 

However, factors such as location, condition, and personal needs should be considered to determine whether buying a flat is right for you. 

When you purchase a property, you don’t have to live there forever. However, you do want to feel comfortable while you are there. Hence, making sure to consider the long-term consequences is important.

Issue selling flats

While flats may be cheaper, there are things to keep in mind. Due to the Grenfell tragedy in 2017, flats have to undergo cladding inspection and prior removal before they can be sold.

Both of which cost money. 

As a result, many lenders do not provide mortgages for those flats which have cladding. In fact, they often provide flats with a zero valuation if the cladding is found. 

The only way those properties can be sold is to approach cash house buyers who are willing to take the risk, like us at We Buy Any Home. So any individuals who purchased a flat in the last ten years and are now looking to sell but struggling to find a buyer – they can get in touch with us. We’ll offer a free cash offer to purchase the property. 

Other factors to consider when buying a property for the first time

Renovation and Repairs

Often it’s possible to get a great deal on a property that requires renovation. You should estimate the total cost of renovations and add that to the purchase price to ensure it’ll be worth it. However, this can be a great way to purchase property as a first-time buyer. 

Additionally, other forms of renovation can increase a property’s price, such as extensions, garages, extra bathrooms, etc. Purchasing a property that has the possibility of carrying out additional work to boost profits at a later stage could be a wise decision.

Set Alerts

There is a lot of competition when it comes to purchasing a property. There may be other first-time buyers, experienced buyers, or just investors looking at the same property. Keep your eye on the market and ensure that you’re booking in viewings to understand the market better. 

Consider Location

If you’re purchasing a property in Wigan for the first time, ensure that it is in a convenient location, whether that’s access to family, work, or other amenities. As a first-time buyer, you’ll likely want to avoid having to make another property purchase in the near future. 


As covered earlier, finance is important. Ensure you’ll be able to keep up with payments. This will help you in the long term and prevent you from entering into an agreement that you’ll regret later. Ensure you carry out your research to find lenders with good terms that match what you need.

Buying A House in Wigan

Buying a house for the first time in Wigan doesn’t need to be difficult. Ensure that you’re aware of the different schemes that can help you with making payments and that you’re shopping around for the best mortgages for your situation. This will help in getting your foot on the property ladder. 

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