Protecting Your Finances When You’re Moving Home
Moving home is always expensive. Even if you’ve saved and budgeted, it will still cost you money, whether you’re renting or buying. Buying a new home can be particularly painful because you need to pay for a number of big things to ensure the process goes smoothly. Fortunately, there are things you can do if you want to protect your finances and make sure the financial sting of moving home isn’t too bad. Keep reading to get some ideas for how you can save as much money as possible and possibly be in an even better financial position once you’ve moved.
Shop Around for Services
Buying a new home requires you to access a number of services. You need a lender for your mortgage, a solicitor to do your conveyancing, and a surveying company to check out the property that you want to buy. Altogether, these costs can add up and cost you a few thousand, especially together with tax. If you want to avoid spending too much, it’s a good idea to shop around and look for a few options to compare. If you get a few quotes and check out reviews, you can find the right services for your needs.
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Use a Mortgage Broker
Finding a mortgage will be part of the process of buying your new home, unless you plan to port your current mortgage to your new property. Getting the best deal is definitely something that you want to do if you want to avoid spending too much. The right mortgage will not only help you now but also allow you to save money over time. Using a mortgage broker will help you to ensure you find the best mortgage for your needs. A whole-of-market broker has access to all of the available deals and can find the best one for you.
Negotiate with Buyers and Sellers
Obviously, you want to get the right price for your current home if you’re selling it. You also want to avoid spending too much on your new home. The first thing you should do is choose the right estate agent to sell your home. With the right agent, you could sell your house for above market value so you’ll have more to spend on your new home. The agent you sell with could help you find your new home too, but don’t feel you have to limit yourself to their properties. When you’re making an offer on a property, do your research to offer a price that’s right for you.
Save Money on Moving Home
When it’s finally time to move into your new home, you need to get all of your things from one place to another. Of course, you can choose between hiring movers or just hiring a van and moving everything yourself. The second option can be cheaper because you’re not paying for professional movers, but it’s also a lot more work for you.
Keep your money in mind when you’re moving home, especially if you’re buying and selling at the same time.