Future first-time buyers are being urged to consider changes to the Help to Buy scheme - which are now just a year away.
The Government is changing Help to Buy eligibility criteria from April 2021.
And people planning to use the scheme are being advised to start their online research now.
South West-based Newland Homes says longer conveyancing times and a slowing down of build rates due to coronavirus means it may take longer than you think to move.
Regional price caps will be introduced to sales prices.
For the South West this means a reduction by more than a quarter of a million pounds – from £600,000 down to a maximum purchase price of £349,000.
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Purchases have to be legally completed by the end of March 2021 to be eligible for Help to Buy in its current form, plus, your new home must be built and certified by the Council of Mortgage Lenders (CML) by the end of December 2020.
Erica Povey, field sales manager for Newland Homes, said: “If you consider the average length of time it takes from starting to market your property through to legal completion can be up to six months in a normal sales market, we encourage people to start making plans now.
"Moving house is not a decision to be entered into lightly, but as we are all spending more time within our homes, think about whether it works for you and your family.
"If not, start researching your next move.”
The current Help to Buy equity loan scheme was introduced in April 2013, with the aim of improving affordability for potential homeowners.
Help to Buy is currently available on all new build properties up to £600,000 and lends buyers up to 20% of the cost of their new home through an equity loan from the Government, which is interest free for the first five years.
More than 220,000 properties have been bought under Help to Buy as of March 2019.
