Buying a home is exciting, but the costs can quickly add up. From legal fees to moving expenses, it’s important to find ways to cut unnecessary spending. With careful planning and smart choices, you can reduce costs without compromising on quality. Here are five ways to save money when buying a home in Tower Hamlets.
1. Research fixtures and fittings
When sellers are preparing to move, they’ll let you know what fixtures and fittings they’ll be leaving behind. Sometimes, they’ll leave more items if you pay a little bit extra (for example made to measure blinds). This could be a good deal – but it also might not be! Before paying extra, research online to see how much the same items cost second-hand. If you find a better deal, you can negotiate with the seller or politely decline to save yourself some cash.
2. Make a thoughtful offer
Buying a home in Tower Hamlets is an exciting step, and making a carefully considered offer is part of the process. By researching the local market and understanding the property’s value, you can feel confident about putting forward an offer that feels fair to you. If you’re unsure how to proceed, ask us for helpful guidance to ensure your offer aligns with the market while giving you the best chance of success.
Get tips for making an offer here.
3. Compare conveyancers
Choosing the right solicitor is an important part of buying a new home. Instead of going with the first option that responds to your request, take the time to gather a few quotes. This will help you gauge whether the fees are reasonable for the service provided. Keep in mind that the cheapest option isn’t always the best. For peace of mind, ask us for a trusted recommendation to ensure you receive quality service throughout the process.
Read a 6 Step Guide to the Conveyancing Process here
4. Switch energy tariff immediately
When you first move in, your home will still be with the previous owner’s energy provider. But they won’t charge you the same rate the previous owners had! They’ll likely put you on their standard tariff, which can be significantly higher than their other rates. When you first move into your Tower Hamlets home, take a meter reading and shop around for a new deal as soon as possible to save some cash.
5. Check removal quotes in both areas
If you’re moving somewhere completely new and need to hire removal services, get a quote from a company in your current area and if you are moving some distance away, your new area too. You could find that a company closer to your new home has a better deal than the one just up the road.
Read our packing tips here.
Get help from the experts
Looking for more ways to save money when buying your new home? At City Realtor, we can help you find the best home for the best price. Get in touch for a chat about property for sale in Tower Hamlets.
You can reach us on 0207 790 7702 or via email at admin@cityrealtor.co.uk.
You may also be interested to read:
3 First Time Buyer Mistakes and How to Avoid Them
10 Essential Tips for First Time Buyers
Frequently Asked Questions About Saving Money When Buying a Home
How can I negotiate a better price on a property?
Do your research on the property’s value and recent sales in the area. Present a well-thought out offer and be prepared to negotiate further.
What are some other costs to consider when buying a home?
Other costs can include stamp duty, legal fees, survey fees, and moving expenses. Be sure to factor these costs into your budget.
How can I reduce my moving costs?
Consider hiring a self-drive van or renting a moving container. You can also save money by packing your belongings yourself and using recycled boxes.
What are some tips for saving money on home insurance?
Shop around for the best deals, increase your excess, and consider bundling home insurance with other policies like car insurance.
What Next?
Do you require a valuation or no-obligation advice on buying or selling a property in Tower Hamlets? Please contact our expert property team at City Realtor on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.
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Good luck if you are buying a home, or considering putting your property in Tower Hamlets on the market. We’ve answered your FAQ’s here.
