Ways to Save on Your First
or Next Home
It can be thrilling to think about stepping into your first or even your next home, ready to customise to your heart’s content, and we’re here to make those homeowning dreams come true. However, it’s always important to keep an eye on the practical side of things, with plenty of financial considerations to take into account.Fortunately, we’re here to help you get a head-start on that all-important milestone; we’ve compiled a list of ways in which you could save both before and after you buy your very own new build home.
Getting a Deposit
We understand that saving for a home can seem like a large task, but you can break it down into bite-sized steps. Even if you’re just upgrading to one of our luxurious offerings, these tips can help you build up a steady and secure base to make moving stress-free.
- Save the Best: If you don’t already have a savings account, the next best time to open one is now! There’s a wide array of offerings available, but if you’re a first-time buyer we recommend the government’s Lifetime ISA, which offers a fantastic 25% bonus a year. You can withdraw from the ISA when buying your first home, regardless of age.
- Make a Change: Make sure that your change doesn’t go to waste. Resist the urge to let those pennies pile and sort through them at the end of every month, then put them straight into your savings – some banks will even have services to do this for you, automatically rounding up to the nearest pound.
- Back to Basics: Review your current expenses and decide which ones aren’t essential – often, a simple reassessment can help give you more money to put into your savings, widening the range of options for your first move.
- Find the Energy: Taking just a few simple steps to reduce your energy consumption can help you take a green thumb to your funds. You can find a full list of energy-saving tips and tricks here.
- Help us Help You: Our Help to Buy scheme could bring your home owning aspirations within reach. With just a 5% deposit necessary for first-time buyers, this government-backed scheme can help get you moving faster. You can read more here.
Buying New
We know that first-home woes can arise when thinking about the cost of all the renovations you might have to do, not to mention being savvy enough to spot them during a house viewing. Our new build homes circumvent these blues, as they’re built to our highest specifications and contemporary standards. Here’s a few ways that our new builds could save you money in the long term.
- Energy Efficiency: All our homes have spectacular ratings for energy efficiency, as is the norm with a new build. That could save you up to £500 a year in energy costs, which is good for the environment and your bank account.
- No Need to Renovate: Unanticipated expenses when buying an older property can cause a financial scare; in 2015, over a third of renovating homeowners spent £10,000 to £40,000 upgrading their recently purchased home. With a new build, everything’s in place for you to focus on the more important things. No need to stress.
- Enjoy Our Assistance: In addition to Help to Buy, our Assisted Move and Part Exchange schemes can help you achieve your first move faster. Visit our ways to move page to find out more.
You can learn more about the hidden costs of buying an old property, and the ways in which a new home could help you save money for life’s unexpected twists and turns here.
Take the First Step
The best way to ensure a smooth entrance onto the property market is to have a long term plan. Be proactive, be frugal, save properly and explore. It can take some time to find the right home for your heart as well as your budget, and the experience should be a stress-free one full of brave firsts and beaming smiles.
At Dandara, we take every step to make sure that happens for you. If you’d like to take a look at our spectacular developments, one of which could be your next home, visit our locations page here.