How To Save Money When Buying A Home

It seems that you can’t open a newspaper these days without reading about property. Prices are rising. There’s a property boom. There aren’t enough houses to go around. Whatever you read, the fact is clear – property obsesses us. Our televisions are always showing us property buying programmes. We should all be developers, trading homes every fifteen minutes. Of course, that’s not the reality for the vast majority of us. For regular people, houses are just somewhere to live. We don’t play a real-life version of Monopoly to make money. We just play normal Monopoly in our normal houses. (We then stop, because Monopoly is pretty boring.)

5857075237_38908289c1_b(Flickr, via Google Images)

We don’t all spend our lives trying to make money from property. That doesn’t mean that you can afford to be slapdash about buying a property. We all need to get on the property ladder at some point in our lives. It’s an essential part of modern life. When you’re buying a property, there are all sorts of ways to save money. Remember, a house will be the most expensive thing you ever buy. That’s true even if you aren’t spending hundreds of millions! Saving money on your house is key for a solid financial future.

First of all, you need to settle on a location. That’s important, so don’t rush your decision. Consider what you need from a location – are good schools important? Do you need convenient transport links? Are you a city lover or a country fan? You need to recognise your needs before you start looking for a property. Once you have a few places in mind, take a day trip out to them. Try and work out which areas of your chosen location are the cheapest. Having the right knowledge of your location will help you to save money.

Next, you’ll need to find a property. It’s best to start with traditional estate agents. They know their local markets inside out. Firms like RA Bennett, property agents in Thornbury, could be a good starting point. A good local agent should have a wide range of potential properties. We think it’s best to look at them all. You may find something unexpected and wonderful. Once you’ve got a few potential properties in mind, start visiting. There’s no bigger waste of money than a home that isn’t right for you. Ensure that you’re choosing the right home before you think of handing over a single penny.

Last of all, there’s the difficult part – haggling. It’s awkward, yes, but it’s the best way to save money. Buying a house is a lot like playing poker. You have to gauge the strength of your opponent – the estate agent. Of course, the asking price is just a ballpark figure. Don’t go anywhere near it. Take any discount that you can get. Push hard and play tough – you’ll get a great deal.

Every penny saved when buying a house is vital – it all goes towards paying off the mortgage! It is vital that you try to save as much as possible on a property. The cost of a house can be a huge weight on anyone’s mind. It’s best to reduce it as much as you can.

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(Flickr, via Google Images)

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