You’ve sealed the deal, inked the contract and are about to move into your new home at last. But before you take a breather, there’s still plenty to do – some of it is the fun part (furnishings) and some of it is necessary administration tasks. Each of those can be done in a finance-friendly way though.
Here are our top tips for moving in to your new home, and how you could make the most of your finances.
Buying your first home can seem at times like climbing a particularly steep hill – daunting, confusing and with several pitfalls along the way. Prices are still rising, with the average UK first-time buyer home now costing £184,973, 7% up on that of a year ago1.
And finding the money for a deposit without help from the Bank Of Mum And Dad can be a real challenge – the typical first-time buyer deposit is now £33,222– that’s 133% of an average salary1. The average first-time buyer borrowed 3.49 times their income, and the average first-time buyer loan was an estimated £136,0001.
But with a few simple steps to prepare yourself financially, and make lenders see you in a positive light, you could approach buying your first home with a lot more confidence.