5 Ways To Save Money When Buying Your First Home

Getting on the property ladder is a life goal that many people share, unfortunately, this dream doesn’t always become a reality. Buying a house is expensive and complicated, which means many people will resign themselves to being renters for the rest of their lives. However, there are ways you can save money on buying your first home that will make your dream much more achievable. Follow these five tips to save money when buying and moving into your first home.

1. Find A Proactive Estate Agent

The economic climate means that only the most proactive and switched on estate agents will be able to survive. It’s no longer enough to list a property and wait for people to walk into your office, so look for the estate agents willing to got that extra mile to find you an amazing property. They should understand your needs and your budget inside out, and they should be able to bring your properties before they’ve even made it to the market. They should also understand the limits of the seller and know when you can lower your offer.

2. Use All The Help You Can Get

There are many government schemes designed to help first time buyers get on the property ladder so you should take all the help you can get. Even if it’s just a tax break to help you save a little more money every month, this will add add up to a bigger deposit and lower mortgage payments in the long run. Some newer eco-friendly developments have been know to help with the cost of things like conveyancing quotes and other solicitors fees.

3. Stick To Your Budget

Approaching every property with a bit of imagination means you will get a lot more for your money than if you try to find the perfect property that takes you out of your budget. Make a list of needs that you cannot compromise on, and then add to that your list of wants. When you see a property, it should meet all of your needs and some of your wants, but you will have to be willing to compromise.

4. Get The Right Insurance

When you become a homeowner, you will no longer have a letting agent or landlord to take care of your problems, so it’s important to cover yourself financially. Getting the right homeowners insurance won’t just cover you in the event of a burglary, but it will also cover unexpected events like flooding or storm damage.

5. Shop Around For Services

Many people make the mistake of using the first service provider that comes along because they think that the cost of professional services is always the same, but this simply isn’t the case. You don’t have to use the conveyancing solicitors that your estate agent recommends, and you don’t have to use a local solicitor either, so if you are buying a home in Leeds but know of a conveyancing Manchester solicitor, there is nothing to stop you from using them.

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