Everybody’s idea of what is perfect is personal to them, but rather than looking for opinions from other people when it comes to buying a home nowadays, people are just looking for what they can afford. So how can we find our perfect home for less than it costs to buy currently? It’s not easy, but there are a few tips and tricks to get around it and be well on your way to living in your own little version of paradise.
Scout Around For Renovations
There are a lot of homes for sale which may need a slight tweak to them, and as such their prices will be lower to those that don’t need any immediate work. Wholly renovating and refurbishing a house can be an expensive task, especially if you don’t know what you’re doing, so make sure you have the applicable skills (or know somebody who does) to get the work done quickly and effectively, should it need doing.
Move To An Underrated Area
A lot of the time, a house price is reflective of the area that it is located in. This is especially true of cities around the world. The further into the city you get, the more expensive the house is going to be. This is probably best reflected in London, UK with the Zone system – there are 6 zones, and the house prices in zone 6 compared to those in zone 1 can see a difference of almost £1million. That’s an absurd amount more to pay for the same sort of house. The general rule of thumb is that the further out of the city you move, the more likely you are to be paying less for your house – or getting a lot more for your money.
Build Your Own
If you have a set amount in place and can get the land required for it, build your own home. It’s not as much of a throwaway comment as some assume it to be. You don’t have to be a builder, or an architect, or anything special to get permission to build your own home – although you will need these people to help you out with the execution of it if you don’t know what you’re doing. If you decide to go all out then it really can add up, but building a basic home to suit your needs shouldn’t cost much at all in comparison to buying a ready-made house, especially if you can source the materials cheap. Make sure that you have time put aside for the building of it (remember the phrase Rome wasn’t built in a day? It applies to houses, too!) and somewhere to stay until you’re able to move in, and you’re set!
Consider A Houseshare
Rather than living with people in a house share, there are schemes where you are able to purchase a bit of the property and then pay rent on top of the mortgage that you have got out (which shouldn’t really be a lot, unless you’re doing it for an extortionately expensive property).
*This post was contributed. Family friendly post are welcome.