When you move home, you need to be as prepared as a first time home buyer. New home demands unshakable attention on every aspect. All the formalities that were followed at the time of buying the current home need to be followed. From finding the best options to taking a mortgage, everything needs to come under consideration.
Following are the crucial points that come under consideration when you move home.
Do in-depth research
To move to a new place, you need a new home, and for that, you need research skills to find the right kind of property. Explore the extreme depth of the market to find out and filter the most promising one. Local agents are your guide to help you detect the right property. Make all the necessary visits on the sites (not during the corona lockdown), as physical appearance always give better clarification on reality.
Negotiate on the price and finalise a property
After all, this is why you invest intense efforts in research. Price is always a prime factor and decisive. You need to check that the cost part is in the harmony of your budget or not.
- First, finalise several properties
- Talk to the seller on the price and express your expectations
- Try to attain common ground on the price part
- Make your loan agent play its role
- After all the mind-boggling finalise a property that feeds to all your concerns
Time to get a mortgage – Hire a fee-free broker
Congratulations, you have a home to work on. Now, the need is to get a financial back-up for your big purchase and as the lending market can be complicated, hire a broker. Many fee-free brokers in the market can help you detect the right deal.
You can contact to the popular online mortgage broker, Shine Mortgages, that is 100% free in its services. This broker can also get you the rate lock letter from the lender. The broking company is always helpful if you want to take a new mortgage from a new lender on the new home.
A broker can bargain for you on the interest rates and can help to save a considerable bunch of pennies. As a result, your monthly instalments remain small.
To get a good deal, you need to have –
- Satisfactory credit score performance
- Debt-to-income ratio not less than 60:40
- Regular income
- Employment stability proof
- Name in the electoral roll
Payless on stamp duty
There can be several ways to pay less stamp duty. If you know about them, you can plan your property buying accordingly. Spending less on the stamp duty can save a considerable amount.
- Buy a property near forest area – When you buy a property near woodland, and the forest land is part of the property transaction, you can save money. The logic is that the home buyer can argue on the fact that the property is a mix-use property. The surcharge, in that case, will not apply.
- Ask for a refund – If you are selling your current home within three years, the rule says that you can apply for a refund on stamp duty.
The above two methods usually work and you can have a significant relief on the stamp duty charges. Smarter you act, better you save.
Why to Pay For Boxes When Moving Home?
Obviously, for moving home, you need the services of packers and movers. But there also you have to find ways to save money. The one most important factor in that does not pay for the boxes in which your stuff gets packed.
- Either find a moving company that takes no charge for the boxes
- OR if the company takes back its boxed after the moving home, you can ask not to charge. After all, you are not keeping the boxes.
Due to the competition, most of the movers and packers take no charge of the boxed. You need to do a bit of research on that part to find such one company.
Other best tips to save money.
Now when the prime steps are done, here are a few more tips to save money that can be extremely useful for you. Have a look at some other promising methods.
Some additional tips are:
- Cut your expenses.
- Move-in the winter, the middle of the week, or the middle of the month.
- Purchase a digital services bundle (phone, internet and cable) all in one.
- Try to get a discount from movers and packers company
- Do not miss your office to invite salary deduction
Get creative and invent your methods.
You need to be cautious on every front to make sure that your move is smooth and not very expensive. Research, property selection, price bargain, mortgage, saving while moving the stuff, every step needs to tailored to save money. Big decisions have a rare second chance, and thus there is almost no chance to make mistakes.