Nine ways to boost your chances of buying a home by 30

3. Dont lose your rental deposits

If your landlords tries to keep all or some of your rental deposit, that could really set you back financially. Before you move in make sure you do an inventory and take photos which can be used as evidence later, if your landlord tries to deduct money from your deposit. Also check your contract to see if it says the carpets need to be deep cleaned, make sure you do it, and patch up any damage such as holes in the walls. Ensure nothing from the inventory is missing or broken. If your landlord unfairly tries to withhold your deposit, you can get it back through the arbitration process provided by the deposit scheme in which your money is held.

4. Get a good credit rating

Credit scoring is a system used by lenders to check how financially attractive you are to them, using your past actions to predict how you will manage your money in the future. If you dont have a good credit score youll struggle to get a mortgage. If youve been flat sharing and youve had a joint account with flatmates then watch out: if the person youve shared with has a worse rating than you, they could drag yours down. Improve your rating by getting on the electoral roll, always paying your bills and using a credit card without missing payments.

5. Become a property guardian

If you dont mind living in a church, a disused school, or an office, the average tenant could more than half their rent by becoming a property guardian. Basically, youre getting paid to babysit an empty building to fend off squatters and tramps. The monthly rent is typically 200 - 300 a month. This would mean someone paying 600 to live in a flat share could save 300-400 a month extra towards buying a home. So, a two-year stint as a property guardian could save you 9,600.

Would-be first time buyer Nisha Gaind is hoping a cut in stamp duty will increase her chances of owning a home >> read her story

6. Buy with a friend or do shared ownership

Shared ownership schemes allow you to part-buy and part rent your home. You buy a share of your chosen property (typically between 25pc and 75pc) which youll pay for gradually with a mortgage. You then pay rent to a housing association on bit that you dont own. Another option is to buy a whole property, but do it with a friend. If you do this its well worth paying to get proper legal agreements drawn up in case one of you wants to sell your share.

7. Build your own home

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Nine ways to boost your chances of buying a home by 30