Tips on saving money,buying my first house

NickyNackyNoo_2

I seem to see alot about people saving money when they're selling their house with fees etc, but what about us lot still trying to get on the ladder.
Is it possible to make any meaningfull savings when you're buying for the first time?

bridiej

I can't really think of a way of saving money, unless you have a friend who's a conveyancer and who can give you a cheaper rate (as we do!).

What ever you do, if you're buying an older property DO NOT scrimp on the money you pay for a survey - a detailed survey may cost a few hundred but it could be money well spent!

Good luck

firrybabe

Are you putting any money away each month ? Maybe try and find a savings accounts which pays a good rate of interest, especially one which pays the interest monthly and is quite instant access.

Let your money grow whilst you search for your dream property....

The best way you can save money is to find a mortgage which fits your financial situation, probably not what you are wanting to hear.

Some lenders do give help with cost money to first time buyers, but beware the small print.

Debt_Free_Chick

For FTB, I think the considered advice is to buy the worst house (in terms of condition) in the best area. Good houses in good areas always sell, so you have an opportunity to redecorate and/or refurbish the worst house and make some money. Be aware though, that much depends on your own ability to redecorate - and don't scrimp on refurbishment.

Often, poor looking houses just need a sympathetic makeover to turn them into lovely houses.

But remember, you have to sell to realise any potential profit - and that's no good if you fall in love with the house and want to stay in it. That said, you should still reap the rewards when you eventually sell.

I'm not talking about full-blown property development here - just trying to be canny about the type of house you buy. Look at the duds, get a proper survey and try and imagine how the house could look with some TLC

HTH