When you are ready to buy a home, there is no doubt that it is the most expensive purchase that you have made to date and likely will be for a long time. That is until you buy your next property. There are often lots of fees that can be added to your purchase and whilst not all can be avoided, some tips and tricks can save you a little bit of cash in the long run. Here are a few different ways you can save money on your new purchase.
Warranties vs insurance
When you purchase a new property, you will likely be asked whether you want to do home insurance or a home warranty. These are two different policies, but you don’t need to have both right away. It all depends on you and your property. Home insurance looks after your home as a building. This covers exterior and interior damage but does not cover appliances.
Home warranties focus solely on home appliances and for a premium, you can rest easy knowing your appliances are cared for. However, this may not be the option for you if you are purchasing a new property where many of the appliances are under their own warranty. You should spend time investigating the rankings of the best home warranties to see if they are for you.
Think about furniture
When you are buying a property, the sellers may offer to leave you some items that you can purchase from them. Now, this can be a great bargain if they are leaving quality goods that you need. However, if it is worn and you will need to get rid of it then you should probably decline this offer. Many purchasers often find that even if they do reject the offer, the seller leaves the furniture anyway because they can’t be bothered to get rid of it. Unless you are in desperate need of furniture, this may be worth taking the risk. You can save money and grab a bargain.
Switch your energy provider
As soon as you move into your new property, you will likely be charged for power and energy. To stop this, you should make sure to change your energy tariff as soon as possible. This will hopefully help you save money as you will be coming in as a new customer and thus open to some of the better deals on the market. This attempted move may even inspire the current energy provider to create an offer to keep you with them. Regardless, it is well worth contacting an energy supplier to get the best deal possible.
Saving money on your first home
All of the extra costs that come with buying a home can soon add up to a significant amount if you are not prepared for it. You should make sure to set aside extra money that can cover the costs of contractors, solicitors, and surveyors but this is no reason that you cant grab yourself a bargain if you are savvy with your research.