There comes a time when you have to fly the nest and set up on your own. When you want to start a family and gain your independence, you can’t live at home with mum and dad. Although everyone’s intentions are strong, the same can’t be said about the bank balances. Starting out on the property ladder is tough because there isn’t enough affordable housing. Plus, there are running costs, some you have to deal with before moving in.
If you’re looking to buy a starter home, below is a handful of tips which will help you cut the costs and get out of the family house.
Look For Positive Equity
It’s called a starter home for a reason – you’re not going to live there forever. What you want it to do is act as a decent place to stay as well as the foundations for a future move. In simple terms, you want to sell it for more than you bought it and put the profit towards a bigger property. So, forget about the area and the current state for a moment and focus on the potential. As long as there is positive equity in your future, then it’s a wise option, especially if it’s affordable.
Try And Find Shortcuts
Now, these should have nothing to do with the building itself. Everything needs including in the survey to ensure there are no flaws. The last thing you want is for a beam to break and the whole wall to collapse. No, the shortcuts come later on. For example, a starter house which includes fittings and fixtures is an excellent find. Why? It’s because it means there is no need to splash out on furniture and expensive household features. Plus, there is the time element. When the house is ready to move in to, there is no reason to waste time renovating or decorating.
Choose One Floor
Unfortunately, starter properties take a lot of work so you might not be able to move in ASAP. In this case, it’s essential to complete the work as quickly as possible so that you don’t have to live in a hotel or caravan for months. Usually, this isn’t possible which is why you might be back at mum and dad’s house for a while. However, you can compromise by making one floor liveable and working on the other one afterwards. You can buy Vi-Spring beds and tile the bathroom and put down carpet so that the upstairs feels like home. Some people even move the kitchen up a level too.
Don’t Get Attached
In the end, you’ll fall in love with the property because it will be your home. This is inevitable but it isn’t encouraged as it stops homeowners from moving. They get too comfy and want to stay put. Remember that it’s a starter home and leaving is part of the process. Always think about the good times but keep in mind what’s to come, too.
Don’t you want to live in your dream house one day?