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The Things First Time Buyers Really Need to Know

When you are a kid, the milestones and rites-of-passage come thick and fast. From your first steps to your driving test, there are hundreds of little milestones in the middle. All big deals in a young life and all something to celebrate. Then, as you start getting older, they dry up a little.

The important birthdays stop, birthdays, in general, get much less exciting, and day to day your life changes very little. But, when the milestones come, they are huge, like getting married or having a baby. One such important milestone for many young adults (or even older adults in the current climate) is buying their first house.

The Things First Time Buyers Really Need to Know | UK Lifestyle Blog

Buying your first house is an important step. It’s usually your most expensive and important purchase to date, maybe ever. It’s your chance to make a house your family home, to truly settle in your space and to give yourself financial stability and security in the future.

But, it’s not always easy. Buying a house isn’t quite like buying anything else. There are many steps to take and hoops to jump through before you get the keys to your home and if you’ve always rented before you might have no idea what you are letting yourself in for. There’s plenty of conflicting advice out there, but here’s what you really need to know.

The Things First Time Buyers Really Need to Know | UK Lifestyle Blog

😱➡️  Thinking of buying a house? Read this before you start looking!

You’ll Need More Than a Deposit

When first-time buyers start looking, they often look at mortgage calculators online, putting in whatever they’ve got saved up as their deposit, without considering the associated costs. In reality, you might have to take around £5,000 out of your savings to cover the other costs of buying a home.

Conveyancing searches can cost up to £600; legal fees might set you back a further £1500, you’ll need to pay bank transfer fees and around £150 for a valuation for your lender.

There’ll also be mortgage arrangement fees of up to £2,000, a booking fee of between £100 and £250, survey costs vary depending what you want but could be over £1,000 and then there’s the cost of actually moving all of your positions and covering the notice period on your rental.

This extra money can be the difference between getting approved for a mortgage and not. So, it’s important to take them into account when you are making your calculations and save for them separately if you need to.

It Takes Longer than You Think

When you are renting, it can be tempting to give notice to your landlord as soon as you have an offer on a purchase approved. Don’t do this. It can take a lot longer than you might think.

Once you’ve found a solicitor, they’ll have to prove your identity, and there’ll be paperwork to fill in and certify before they even start their searches. Then, these can take up to six weeks to come back, and you never know what they might find. Your survey might also reveal problems that lead to further negotiations.

Even if everything runs smoothly, the vendor might be waiting for their own purchase to complete before they can move out of the home that you are buying. It’s not uncommon to wait up to six months between first viewing your home and moving in.

The Things First Time Buyers Really Need to Know | UK Lifestyle Blog

You’ll Forget What It Looks Like

You may view a house once before you move in. Sometimes twice. But rarely more than this. You can go months before seeing your future home for more than a quick visit. You’ll start making plans for new furniture you want to buy and where you are going to put things.

Over time you’ll start to doubt yourself. You’ll forget exactly what shapes the rooms are, or how big things are. When you get the keys and spend proper time there without an estate agent or vendor, you might find it doesn’t look quite how you remember. So, try not to buy too much beforehand.

There’s Lots of Waiting

During the searches and surveys stage of making a purchase, you’ll spend a lot of time just waiting. You won’t have a moving date to tell people when they ask, you won’t know what’s happened, and there can be weeks at a time when you hear nothing. This can be frustrating, but a lot is going on behind the scenes.

If you want an update or any information don’t hesitate to ring your solicitor. Remember, you are paying for their services so don’t worry about making contact. Then, suddenly everything will happen in one go, and the wait will be over.

The Things First Time Buyers Really Need to Know | UK Lifestyle Blog

2018-05-09T22:36:30+00:00 May 9, 2018|Home Decor|

Why You Should Consider Buying a Flat Instead of a House

If you are looking for your next place to live, there are several different types of property you might consider. One of the most popular property types that most of us pick for our homes is a house. However, if you are living alone or you work in the city this might not be the most economical option.

The next option is a flat: which is great, but flats can often feel cramped and dingy. This doesn’t have to be the case, as you’ll see, even if the tiniest properties can feel spacious. If you haven’t ever thought of living in a flat, by the end of this post you’ll want to pack your bags and move in.

Why You Should Consider Buying a Flat Instead of a House | UK Lifestyle Blog

Safe and secure property

When you move into a building with a flat, you will live under Property Management. This means that a group of people own the building and are solely responsible for making sure that you and all of the other residents are happy and safe at all times. This means that they will dedicate their time and resources to good security doors, alarm systems and privacy for all people who live there. It takes the worry off you and gives you the peace of mind you need in your home.

Convenience

flats are one of the most convenient types of property you can buy. The reason for this is that they are usually located in the middle of the city near to transport links, shops and other amenities. They are also run by a board of people meaning that you don’t need to worry about taking care of the maintenance and other small jobs in your home because everything is taken care of.

Why You Should Consider Buying a Flat Instead of a House | UK Lifestyle Blog

Great amenities

You know when you go abroad and stay in a really fancy hotel which has a gym, a spa and a communal garden? Well, how about having these amenities available to you every single day? Every flat building has a whole host of amenities which are there for all residents of the building. It means that you can live in your own private space, but also enjoy getting to know your neighbours while using the gym, the pool and even the rooftop observatory which some buildings offer.

Fitness motivation

The amazing thing about being in a communal building is the fact that you don’t travel to go to the gym. It means that when you are on that health kick in the springtime you don’t have to roll out of bed at 5am to get in the gym before work. You can simply get up, go downstairs and you will have all of the facilities you need to keep yourself fit and healthy.

Why You Should Consider Buying a Flat Instead of a House | UK Lifestyle Blog

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Great investment

Flats are a great way to invest your money because they don’t cost the earth and they will always be increasing in value. A flat is a type of property which many people want to live in, and this means that you will never have a problem selling it on and making yourself a good profit. You can even decide to rent out your flat to holiday makers and you will get a great return on this during the summer months.

Psst! Don’t you LOVE this tiny 366 Sq. Ft. apartment in Stockholm, Sweden? The open plan design and the glass wall between the bedroom and living space provides a bright and spacious feel. It’s stunning 💕

2018-04-02T19:52:36+00:00 April 2, 2018|Home Decor|

5 Easy Ways to Reduce Household Outgoings

Do household bills always catch you on the hop? It’s easy just to think of them as a fact of life, something that you can’t do anything about, but you can! With just a little thought and some forward planning you’ll be amazed at the savings you can make and the best part is that you don’t have to go without to make it happen.

We’re looking at ways we can decrease our bills for a few reasons. Firstly, we’re planning and paying for our wedding that’s looming. Secondly, we’ve decided to go traveling, so we need to save as much as possible – but more on that soon. Thirdly, bills are such a boring thing to spend money on. Why spend more if you don’t have to!? Here are five ways to start saving money now:

5 Easy Ways to Reduce Household Outgoings | UK Lifestyle Blog

Utilise your freezer

You’ve got a sizable freezer compartment integral to your fridge, don’t just use it for a few chips and a packet of frozen peas. Your freezer works most efficiently when it’s full, so keep it that way. Most items of food that are about to go out of date can be frozen and used at a later date. Make sure you’ve always got a stock of freezer bags and freeze all your left-overs, from too much mash to chopped fruit for smoothies. There’s no reason ever to buy meat full price, just swing by the supermarket at the end of the day and pick up reduced bargains to freeze. Diced chicken breast and mince are always handy to have in the freezer for a rainy day.

Get the best deal on your energy consumption

Energy is expensive and likely to get more so. Reduce your gas and electric bills by shopping around for the best prices. 45% of people don’t ever recall switching their energy supplier; so many people could be paying more for their energy than they need to! It’s best to make sure you’re not one of these people.

5 Easy Ways to Reduce Household Outgoings | UK Lifestyle Blog

😱➡️  How I saved for my house deposit in less than a year

Cultivate a money-saving mindset

Get into the habit of turning things off. Do you really need all those lights on? Are you using energy efficient LED bulbs? Do you leave stuff plugged in all night when you don’t need to? All those little red charger lights are costing you money so make sure you unplug them when they’re not being used. We’ve all got used to using water as if it was free, but it’s not, so turn off those taps and take showers rather than baths. Russian children go to school in temperatures of minus fifty, as soon as it drops below zero here we all rush to turn the heating up. Time to stop being such a softy, don’t reach for that dial, put a woolly on instead, it’s far healthier.

Invest in a wood burner

If you’re fortunate enough to own your own home and have a working fireplace, consider saving for a wood burning stove. They not only look stylish, but they are also an economic and eco-friendly way to heat your home.

5 Easy Ways to Reduce Household Outgoings | UK Lifestyle Blog

Insulate

Spending a little money now can save you an awful lot of money in the future. You may think that you can save money by not insulating your home but you’re wrong, you’ll soon recoup your expenditure and it’ll save you money year on year. Look out for sales of insulation material and get that loft insulated, otherwise, your expensive heating is just going straight through the roof. Blinds may look stylish but they’re no good in winter, invest in some heavy lined curtains and you’ll be amazed at the difference.

2018-05-09T15:39:22+00:00 March 22, 2018|Home Decor|
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