Whether you’re buying property as an investment or simply looking for a new home, sticking to a tight budget can often seem like a tricky experience. There are so many hidden fees that can bump up your overall spend quite dramatically, and the prices of houses themselves seem to be rising at a constant rate too. Luckily, affording the kind of property that you had initially hoped to purchase is a lot easier than you might think, as there are many money saving tips that you can utilise to take your house search to a whole new level. So, if you’re looking to buy a new property and would like to find out how you can make the most of the budget you have, then read on to uncover some of the best steps that you can follow today to bag your dream property for a respectable price.
Accept A Project
Accepting a project property that may need a bit of work could be a huge money saver, as there are many houses that require cosmetic or even paperwork adjustments that can be completed in a super smart and inexpensive way. For example, a home that requires a lick of paint and an update in terms of furniture and fittings can be completed for very little, yet the difference in price between this kind of property and a fully renovated version could be thousands and thousands more. As well as this, you may find it easier to try and buy affordable resale HDB properties that are part of shared ownership programs, as it just takes a little paperwork to allow you to bag yourself a really great deal. Any kind of project can help you to save money if you’re ready to put in a bit of extra work, so use your creative vision when looking at properties to see past cosmetic issues and view the potential of each space.
As you search further into bigger cities and towns, the prices of property start to rise and rise at ridiculous levels. In some cases, homes that are just miles apart can be on different ends of the spectrum, with those closer to the centre being more than double the price of those on the outskirts. If being in the middle of everything is a key part of your move then of course you cannot consider this step, but it means that you may have to compromise on space and functionality to get that expensive prime location. However, if you’re willing to expand your search outside the centre then you are bound to come accross a whole host of more affordable properties that you can invest in which tick all of your boxes in terms of specifications whilst likely being below your original budget.
Saving money whilst buying property has never been so simple when you are able to make the most of the top tips and tricks detailed above! Start off by considering the option of a project home that might need a bit of renovation work, as these kinds of houses are often sold for a very reasonable price.