If You Want To Move Home, Make Sure You’ve Got Your Finances In Order

Moving home is not a simple time by any means. There is so much that needs to be done, and one of the most important things that you’re going to have to do is make sure that your finances are in order. You don’t want to find yourself in a situation where you’re struggling simply because you didn’t think far enough ahead or plan well enough. In this article, we’re going to be taking a look at some of the things that you can do when it comes to your finances. Keep reading if you want to find out more.

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Selling Your Old Home

 

You should think about selling your old home if this is something you’re going to do. It might be the case that you’re simply buying a second property, but for most people, this isn’t going to be true. If moving home depends on selling the home you have now, this is certainly something that you need to know. A lot of people need the finances from their house to be able to move, and if this sounds like you, then you need to do this before you can get started on the moving process. Speak to an estate agent, have your home valued and see what kind of interest you get when you put it on the market. You don’t want to start looking for a new home, find one you love and then realize you can’t move there because your home is proving difficult to sell.

 

Work Out The Mortgage

 

When you do find a new place that you want to live in, you’re going to have to figure out what the mortgage is. Of course, you’re going to need a professional to help you get the mortgage, but that doesn’t mean looking on a site like MortgageCalculator.org to get a better idea of what you can afford is a bad idea. It will help you put into perspective how much you can afford based on what deposit you will have available to put down and the monthly repayments.

 

Remember that if you are buying a home with a higher value than what you currently have, the payments are going to be higher, and you’ve got to budget for this.

 

The Associated Moving Costs

 

Finally, moving isn’t a cheap thing to do, so you’ve got to factor in all the associated moving costs. This means hiring a van to take your stuff from the old house to the new, hiring an attorney or conveyor, an estate agent, cleaning services, and so on. The best way to do this is to make a list of everything that you’re going to need to pay for, find quotes online, and then work it out this way. While it might not be 100% accurate, it will give you a good idea as to what you can expect to pay when the time comes.

 

We hope that you have found this article helpful and now understand some of the ways that you can get your finances in order before you move home. It’s essential that you do this for the success of the entire process so take this advice! Good luck, and we hope that you love your new home.

 

5 Benefits Of Buying A Smaller Home

When you are buying a new home, space is probably one of your biggest priorities. Most people are aiming to get the most space that they can for their money, which makes sense. But have you ever considered downsizing and moving into a smaller home? Living in a smaller home is becoming quite popular among single people as well as families because there are actually a lot of benefits. There are some space issues, of course, but if you can learn to adapt to a smaller home and use space more efficiently, there are a lot of positive aspects. These are some of the benefits of buying a smaller home. 

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It’s Cheaper To Buy 

This is the most obvious benefit of buying a smaller home. If you can make do with less space, you can find a much cheaper property. That means that you can afford to put down a bigger down payment and you will be able to pay your mortgage off a lot quicker. In many cases, buying a smaller property also means that you can afford to look for quality. If you are looking for a 4 bedroom house, for example, you are limited by your budget and you may have to buy a house that needs a lot of work. But for the same price, you can get a smaller property that is ready to move in right away and doesn’t need any renovation. 

Your Bills Are Lower 

Energy bills are the biggest monthly expense for most people, but if you live in a smaller home, they will be a lot more manageable. The energy costs in an apartment or a condo, for example, are far lower than they are in a big house because you simply have less space to heat. Not only does this save you money, but it’s also a lot better for the environment because you are not wasting as much energy. This is one of the main reasons that a lot of people are choosing to downsize their homes. 

Maintenance Is Cheaper 

A big house is great and you have plenty of space, but as a homeowner, you are responsible for the upkeep. It’s important that you look after your home, and that is far more expensive in a bigger property. Buying a small property that is already in good condition means that you have less maintenance to pay for when you first move in. You will not experience as many issues in the future either, so the cost of keeping your home in good shape is far lower. It is also a lot quicker to clean a small home, so you have more free time to spend doing things that you enjoy, instead of spending an entire day of your weekend keeping the place clean. 

It Forces You To Declutter 

In a big home, it can still feel like you are short on space because people have a tendency to fill the space that they are in. When you live in a big house with lots of rooms, the chances are that at least one of those rooms will be a storage space for junk that you don’t really need. When your home is filled with clutter, it can make the space frustrating to be in, and it may even have an impact on your mental health. But when you live in a small home, you are far less likely to fill it with clutter. You know that you have limited space, so every time you come to buy something, you will stop to think about whether you really need it or not. This means that you will stop buying things you don’t really need and save a lot of money. 

It Encourages Family Bonding 

It’s important that everybody has their own space at home, but it’s also important that you spend quality time together. In a smaller home, everybody is more inclined to spend time together in the same room, so it encourages family bonding. You can still make sure that everybody has their own space if they want to spend time on their own, but you will find that your family is closer when you live in a smaller home. 

 

Moving into a smaller home is a bit of an adjustment and it may take you a while to get used to it. But if you find creative ways to maximize the space, you will soon start to notice all of the benefits, like saving money and reduced cleaning time.

4 Tips On Buying Your First Home

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So you’re considering buying your first home? Ahead lies an exciting time full of new beginnings, investment gains, and home decor fun. Before you get to all the perks, it’s time to get the red tape out of the way and deal with the practicalities. 

 

1 . Saving early 

 

Rule number one, if you’re looking to buy, it’s well worth saving early. You may not be entirely certain that you want to purchase a home right now, but if it’s something that you wish to do in the future, you definitely won’t regret saving early. Remember, it’s preferable to put down as large a deposit as possible.

 

  1. Assess your budget 

 

When you are looking to get on the property ladder, the first thing that you need to do is assess your budget. You can have a go at doing this yourself with the use of a budgeting app. Mint, for example, is a top app that allows you to track all of your financial accounts in one place from your general bank accounts to credit cards, investments, and loans. Mint uses your income and expenses to create a budget for each category and help you to determine how much you can stand to save.

 

  1. Mortgage shopping 

 

Once you have a good idea of your budget yourself, you should also make an appointment with a mortgage adviser so that they can give you a professional assessment of how much you could potentially borrow. Ensure to take all of the appropriate documents when you go to meet your mortgage adviser, including payslips, details of credit commitments, and various forms of ID.

You should certainly shop for a mortgage before you begin the process of viewing houses. The last thing you’ll want is to find your dream house to then miss out because your mortgage is not yet finalized. Your mortgage lender will complete a credit check to assess your options moving forward. Remember, the sooner you get a mortgage in place, the sooner you’ll be in the best position to start making offers.

 

  1. Must-haves

 

With a mortgage sorted, you’ll be ready to get house hunting. Before you do so, it’s a good idea to figure out exactly what you are looking for and define your ‘must-haves.’ Ask yourself what is most important to you, be it the cost, the size, garden space, or even the neighborhood. If you’re looking to keep costs down, you might be looking for smaller Apartments for Sale as opposed to going for a house on your first buy. Perhaps you’re particularly interested in a new build home that is fully energy efficient? Maybe it’s important to you to be close to a station to commute to work? Whatever your needs are, be sure to define them before you start looking.

Getting on the property ladder can be a long and drawn-out process, so it’s essential to stay patient. It may take a little time to secure a great place, but rest assured, the wait will be worth it. Moving house can be a slightly stressful process, be sure to get organized early to avoid the pressure.