Buying a house, especially in today’s market is always going to be expensive, however, there are things you can do to save some money along the way. Here are just some of them:
Purchase
The actual purchase of your home is highly likely to be the largest outgoing of the whole process, so how can you save some money? There are a few things you can do that can save you considerable amounts.
Look into money-saving schemes available on new homes for sale if you are a first-time buyer. There are multiple financing options available for first-time buyers looking to buy new build homes. These include reduced deposits and help to buy equity loans. Be sure to research these before you begin your search to potentially save yourself a substantial amount of money.
If these schemes don’t apply to you, you may still be able to save money when purchasing by offering under the asking price. Whilst this can seem risky in the current competitive market, it can be effective if you are in a good position to buy. Often, sellers may be looking to move quickly, so they may prioritise a buyer who can do so over the highest offer. Make sure you have a mortgage in principle in place and if possible, break the chain by selling your property first and moving in with friends or family temporarily to make yourself as attractive as possible as a buyer.
Moving
Moving costs can really add up, especially if you have a lot of stuff and require the use of third-party movers. The first way to save money here is to reduce the amount of stuff that you need to move. This can be achieved by undertaking a big declutter before you move. In doing so you may even discover items you can sell.
Once you have refined what it is you are actually wanting to move, make sure you get quotes from multiple removal companies to ensure you get the best price. When looking for a removal company, don’t overlook customer reviews. The cheapest company may not always be the best and could end up costing you more in the long run so take that into account. If you are moving to a completely new area, get quotes from companies in both areas for comparison as there may be a significant difference. It is also useful to check which dates and times are the cheapest to move and try to incorporate this into your move if it works with other parties involved.
Furnishing
If you are buying your first home, there is a high chance that you don’t own much furniture and so will need to furnish your whole home. Once your offer gets accepted, be sure to enquire into whether the sellers intend to leave anything behind or are wanting to sell anything from the home, this can be a good way to get furniture and fittings at good prices as the sellers will appreciate the convenience of not having to remove it and so may accept a lower than usual price.
Facebook Marketplace and other second-hand sites are a great way to make savings on furniture and homeware. Keep checking these regularly to snap up good bargains.
For items you don’t wish to purchase second-hand, set up alerts online to be notified if they go on sale, and remember that your house doesn’t need to be furnished all in one go. Holding off for Black Friday or the Boxing Day sales is a good way to make savings.
