For many people, the arrival of autumn means it’s time to get back to school or start a new adventure at college. If you’ve recently graduated, it’s time for a new chapter to begin. What are you going to do now? You’re still young, so you might not have any concrete plans, but you probably have some ideas. One thing you may be thinking of doing is buying a house. If you have designs on becoming a homeowner, there are various options you could consider.
Saving up for your first home. Owning a home is a dream many of us share. The trouble is that it doesn’t come cheap. If you want to buy a house after leaving college, the chances are that you’ll have to do some serious saving. One way of saving money is to move back in with your parents and put your salary into a savings account. You may miss your own space for a while, but the rates they charge you will probably be much lower than renting your own place. If this is not an option, you could consider sharing an apartment or renting a house with friends. Set up a direct debit from your current account to your savings and transfer a lump sum each month. Try and cut back on luxury items while you’re saving.
What kind of property to buy. There are all kinds of properties on the market. There are brand new houses you can move straight into. There are run down homes which need some TLC, and there are those that fall somewhere in between. You may think you know what you want, but keep your options open. Arrange some viewings, and see which kind of property appeals most. If you take on a project, you’ll need to spend money and plan carefully. There may be some jobs you can do yourself. But for others, you’ll need to get professionals like Texas Star Roofing on board. Although you need to factor in renovation costs, you could still save a lot of money buying a doer-upper. If you’re interested in waiting around, or you’re not a fan of DIY, it may be better to go for an easier option. As a first-time buyer, the thought of doing a lot of work can be daunting. Often, a home that requires cosmetic work only is a good opportunity for new homeowners. You can put your stamp on it, but you don’t have extensive work to carry out. You can easily move in and do painting and papering as and when you can.
When you leave college, you may have grand plans to buy a house as soon as possible. It often takes time to save, and to find the perfect property. Don’t rush into anything. Work out your budget, and have a look around different styles of homes. You may end up going for something completely different to your initial front-runner.
Milo Senalle
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