Oh my god im scared

TopKat*1

HI money savers i have finally bought a house, i have budgeted for all costs but i am very scared everything is soooooo expensive, how will i live???

thegrimreaper

just out of interest how did you budget for things like electricity/gas and water? i have asked various different people and got some quite varying answers? be interested to see what you allowed for utility bills etc!

Greenwellies_2

You use freecycle to get your furniture, menu plan your meals, take packed lunches to work etc, only put the heating on when you REALLY need to, don't have the hot water on all day, only put it on for when you know you'll need it (yup I end up washing in cold water in the mornings some days)

Don't go to DFS etc and get intrest free, it's not really worth it

Good luck

GW

wheresmydoshat

hopefully by budgetting you should be able to only spend what you have. an awful lot of people bury their heads in the ground when it comes to this, so well done for planning ahead.

Gwhiz

Sorry OP but that's it. The end. You'll never be able to afford anything ever again. Why, oh why did you buy?

U've_been_framed

We had the same feeling in 1988 when we got a £30,000 mortgage on our home. Money was very tight for the first few years, but things improved gradually. Looking back, it was one of the best decisions we ever made.
Now, the house is paid for, the family have all grown up and left the nest, and we are downsizing to a bungalow. Even though she left 6 years ago, our youngest says we are making her an orphan by selling her childhood home.

Topkat I hope you are very happy in your house. Money is not everything.

TopKat*1

thanks everyone for your comments, i have thought it through thoroughly and i do believe it will be an investment (its a 4 bed detached at a good price im my opinion anyway) as well as my home. i have no reserves (which worries me as im training to be an accountant and reserves is my fav word ha because ill be putting down 20% which is my entire life savings)

SplanK

as long as you have budgeted for everything then you should be ok - just expect things to cost slightly more than planned though - esp in the first 2-3 months as things settle down and you get used to a hell of a lot of money exiting stage left of your account!

I moved in with my other half into our first home 7 months ago - decided to decorate a few rooms before we did - however we came across some unexepected costs just before we actualy moved our stuff in which cost us a few hundred quid to put right.... We did have a, what i think is quite small "emergancy - do not touch unless you REALLY need to fund" of 5K which came in handy for that - able to get things sorted swiftly but without leaving us tight on cash as such for other stuff. Before we did anything else to the house - we just made sure that the fund was topped back up ready for the next issue that needs sorting out sharp-ish!

if you have no spare funding - i would see what you can do about getting at least a few grand stashed away - even when you have not exchanged - things may crop up which need the extra funding and if you can't afford it then the seller may start getting itchy and may wonder to another buyer!

but good luck, its up there with one of the best feelings in the world.... i remember getting the call to say it was ours, i ended up leaving early (the boss just said go lol) driving from work in Kirkham to Bolton to pick up the keys from the estate agents and the other half - i was a bundle of very mixed emotions lol

SelenaLouise

Sorry to jump in on someone elses thread but do you have to pay two mortgage payments in your first month??

SplanK

depends.... i doubt you will get 2 payments but it could be more than your "normal" payments

TopKat*1

NOT TWO MORTGAGE PAYMENTS JUST THE FIRST IS A BIT MORE THAN THE USUAL PAYMENT BY 50 ODD QUID, PROB DIFFERENT WITH OTHER PEOPLE BUT THATS MY SITUATION.

i have absolutely nothing to put aside as i got alot on (hen weekend, new tyres for car etc) but we started buying things for our future house a while a go e.g kettle, toaster, bed linen, towells, cuttlery/crockery etc etc so we have a bit of a stash that will keep us going for a bit-i would recommend people doing this as if we had to buy all that now -well we wouldnt be able to due to mortgage companies asking for 20% deposits etc