Buying your first home these days is no easy feat. Not only have prices continuously skyrocketed in a relatively short period of time, but there’s also more competition than ever among buyers to secure a place.
With house prices higher than ever before, it’s already well-known that the initial outlay needed to secure your first mortgage must be a hefty one. And as well as having to come up with enough cash for a deposit, you also have to cover all the additional hidden costs that go with finding and securing a new home.
But even after the legal fees, deposit and stamp duty have been paid, the spending doesn’t stop there. If you’re about to move into your new home, additional costs like new furniture, setting up new utility providers and fixing newly-discovered snags can continue to add up for months after your move-in date.
With a little planning, you can take steps to save as much money as possible and enjoy your new space even more. Here are some tips on how to spend as little as possible in the process.
1. Make a checklist
By making a note of all the things you’ll need in your new home before you move in, you’ll be less likely to stumble on unexpected costs and more prepared for a smooth move.
With a list, it’s also easier to see where you can compare different prices on the market and maximise your savings. For example, comparing utility companies and finding the best furniture and fixings.
2. Be your own removal company
Renting a van and moving your own things might take more time and elbow grease, but can save you a considerable amount of money – up to the thousands, depending on how much you have to pack and how far you’re moving.
For free packaging, ask your local supermarkets for cardboard boxes they no longer need.
3. Manage different bills and payments
As well as making a general move-in checklist, it’s also a good idea to make a list of services you’ll also need to set up in your new home: water, council tax, gas, electricity, broadband, home phone, mobile, insurance etc.
Nobody likes thinking about utilities, and choosing new ones for your first home might seem overwhelming. But by choosing companies that allow you to bundle services, you can take a few extra bill dates off your mind.
For example, Utility Warehouse offers energy, broadband, mobile and insurance, and lets their customers choose and bundle multiple services together. This means just one monthly bill to keep track of, one online account and one password to remember for multiple services.
4. Choose your utility providers
Moving is a great opportunity to switch away from past providers and find better services and deals.
As well as saving their customers time by bundling services onto one bill, Utility Warehouse (UW) offer discounts for their services. The more services a customer bundles with them, the more discounts they get.
5. Furnish your new home without breaking the bank
If you’re starting from scratch, expenses like bedding, white goods and living room furniture can add up quickly.
Charity shops like the British Heart Foundation can hold treasure troves of second-hand furniture, while dual-use furniture can minimise the need to buy extra storage units (for example lift-top coffee tables).
If you’ve signed up to UW, you can also take their customer-exclusive UW Cashback Card, which offers up to 10% cashback when used in-store or online. The cashback earned from each transaction is automatically taken off the next monthly UW bill, so you save while you spend.
While the Cashback Card can be used anywhere, you can earn more cashback with UW’s retailer partners. They’re currently partnered with popular retailers like IKEA, Argos and Silentnight, so you can take advantage of extra cashback while furnishing your new home.
And with other big brands like Asda, Boots and Primark on the retailer partner list, using the UW Cashback Card for your everyday spending can also help free up your financial bandwidth by lowering the cost of your home services even more. From groceries to holidays, every time the cashback card is used means even more money off your bill.
While the first few weeks of your move-in may feel hectic, it’ll all be worth it when the initial hustle and bustle calms down. With a little strategic planning, and taking advantage of bundled services and cashback opportunities, you can make the initial process as stress-free as possible so you can start enjoying your new home sooner.
