Making the move from renting to owning your own home is a great feeling. You’re no longer going to be lining the pockets of someone else but investing in your own future instead! But the transition from renting to ownership can take some getting used to, and there are some things you’ll need to consider to help you enjoy a smooth move.
Take a look at the following tips for making the move from renting to your own home.
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Take care of all of the financial details
One of the biggest changes from renting to owning will be your financial situation. You’ll now be responsible for more things, including different insurances, bills and the cost of any renovations or maintenance needed on your home.
Try to time your rental notice and your home sale well so that you’re not left paying rent and a mortgage and other bills at the same time. If you plan things out correctly, you should be able to enjoy a relatively seamless move.
One of the many good tips for first-time buyers is to work out the total cost of your new home. If the place you’re buying is bigger than your current rental, then you’ll need to think about an increase in bills, etc. to make sure you’re able to budget accordingly.
Get organised with your furniture
Furnishing your home is one of the most exciting things about buying. You get to completely kit out your place as you want it, but that could mean getting rid of some of your existing furniture if it’s not fit for purpose anymore. Think about selling some of your older things on – possibly to new tenants – so that you can have a nice little fund ready to help you buy for your new home.
Prepare in advance for your move
Moving home is always stressful, but if you get organised, the whole thing will be much easier. Remember to book your movers in advance, and even considering hiring them to pack up your things too. Booking end of lease cleaning services will be one more thing you don’t need to do to help you free up some time to get yourself ready for your new home. Make sure your landlord is in the loop about moving dates, etc. to help make the move as easy as possible for both sides.
Get ready to enjoy making it your own
Once you’re in your new place, it’s time to start making it your own. It can take time to feel settled in a new place, and feel overwhelmed by everything that needs doing. But with some simple things you can do to make your house feel like a home, you’ll have some good ideas to get you started. As you work through each room it’ll come together, and you’ll have somewhere you can truly call your own.
CREATE YOUR OWN NEW HOME
Of course, as Simply Living home builders point out, you don’t have to even move from rented property into an existing home. Instead, you can design one that you want from scratch so long as you have enough capital, and then just borrow the rest of the money you require in the form of a good old-fashioned mortgage.
In many ways, creating and designing your own home makes it easier to move out of rented accommodation. When you have full control, you don’t have to make annoying compromises.
Making the move from renting to owning is a big change, but it’s a really exciting one. Step onto the property ladder and say goodbye to renting!
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