Christmas time tends to spur many into making a fresh start come the New Year. It is becoming increasingly common for people to ditch the January Sales in favour of a new home.
If you are unsure of what you can afford, mortgage calculators are available online on sites such as http://www.moneysupermarket.com/mortgages/calculator/ .
There are some key tips you need to bear in mind to save you money. The first of which is to look for new built properties on new developments. This means, not only is your house brand new, so no risk of wear and tear but it also means that you can often secure a fixed price for your home, even if the prices rocket by the time of completion.
If you find your development before the show home opens, you are far more likely to pick up a good deal, as the developers like to know that they have sold several houses before the show home opens, to instil confidence in other buyers.
Look for homes built in the summer months, when the ground has settled for a period. This prevents shrinkage and sinking.
Don’t buy a home due to be built around the end of a builder’s financial year (March). This means they may be tempted to rush your home in favour of a quick finish. On average a new home takes around 10 months.
In terms of financials, ensure your credit report is up to scratch. Any mistakes on your file can cost you your home. With many online sites offering your credit report for low costs it is a simple but vital check to ensure you don’t end up paying the price of a mistake.
Pay off any debts, move to your new home debt free (your mortgage is of course and exception) and have a fresh start. Also save as much as possible, there are so many forgotten costs of moving home that will make a dent in your bank balance. Things such as television set up costs and basic DIY jobs soon become very expensive projects.
Access your mortgage options. This is the most important thing you can do. Take time to learn what your options are, what the risks are and what is best for you. A wrong decision can lead to your home being repossessed down the line.
Overall moving home is one of the most costly things you will do in your lifetime. Don’t rush into it and ensure you know all options available to you, a rushed decision could come back to haunt you at any time.