First Time Buyer

Climbing onto that first rung of the property ladder has never been harder. The property market is stuck drifting in the doldrums with no one wanting to sell, and because mortgages were the root of all this economic evil, banks are asking for 25% deposits! How can first time buyers ever hope to raise this much capital on their own?

The investment doesn't just stop at the purchase of the house either. There are the lawyer's fees, surveys, stamp duty and the cost of the removal company. Once you're in the house, you will probably spend money on decorating, gardening, furnishings and maybe a little DIY. After all this, you will need to invest in some protection.

This doesn't just mean some hefty deadlocks on the garden gate and a sensor light by the garage. What would happen, heaven forbid, if your house was to be burgled, damaged by a storm or worse still burned down? Without insurance, you will be left severely out of pocket.

When you buy a new house, you have to prove that you have buildings insurance. But what about the contents? OK, so the real expense is the bricks and mortar that come together to make your house, however, the contents are just as important to you personally. It is these worldly treasures that turn a house into a home after all.

Furthermore, you can usually get a better deal if you opt to buy your buildings and contents insurance together from one insurer. Kwik Fit Insurance for example, offer a 15% discount on its combined cover, so you can save money and gain peace of mind. Take a look at their site to get a house insurance quote.

Also, check exactly what is covered on your contents insurance. Many insurers will cover bikes as well as items outside the home and even those taken on holiday, so you don't have to take out separate policies for everything.

Insurance may just be another cost you don't want to deal with when buying your first home, but by taking a few simple measures you can keep costs down and start gaining a no-claims discount after just a couple of years.

Installing burglar alarms, maintaining your property and joining the local neighbourhood watch will reduce your annual premium as well as reducing the likelihood of burglary and vandalism. Insurance doesn't have to be expensive and the reassurance it can give you in a time of high crime rates and increasingly unpredictable weather conditions means it's a worthwhile investment.