While all this can sound very overwhelming, there are some ways that you can save money on your home move. Let’s take a look.
Get the Right Mortgage
Now it’s so much harder to get a mortgage than it used to be, especially for young first-time buyers, it can be tempting to rush out and take the first one that you think you can get accepted for. Don’t. Take your time and shop around. Think of the future and look into the total costs of the mortgage. Something that seems cheap now may end up costing you a fortune over the life of the loan.
Sometimes, it’s better to wait, stay where you are, save a bigger deposit and improve your credit rating, so you’ve got more options when it does come to getting a mortgage.
Choose the Right Survey
When you buy a house, you need to employ someone to survey the home, to make sure the house is worth the money and has no large structural faults. You need this done, but there are options. However, cheapest isn’t always the best option and could cost you much more if you end up buying a house that needs a lot of work because of a poor survey.
A mortgage valuation survey is the cheapest option, but will just tell you if the house is worth the price. It won’t go into any detail. You should also get a private survey which will tell you if there are any other concerns. While this is more expensive, it can save you a lot of money in the coming years, and you could even use the findings to negotiate a lower price on the house.
Save On Bills
When we’ve lived in the same place for a long time, we tend to stick with our utility providers out of loyalty or laziness. You could be wasting a fortune every year. Moving home gives you a perfect chance to review your deals and shop around.
When it comes to cutting costs when buying a new home, it’s important not to just think about the short term. Cutting corners or taking out the cheapest deals going can end up costing you a lot more going forward. Do what’s right for you and your future and save money long-term.