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Save Money When Selling Your Home

May 12th, 2021 Posted in Property Investment
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Most people, when selling their homes, are so focused on the money they are (hopefully) about to make, that they spend very little time thinking about all of the costs associated with doing so, and how they may be able to save a little money there.

Selling a house can be an expensive business, but if you’re sensible, you can make some serious savings.

Choose your estate agent wisely

Probably, the biggest way to save money when you are selling your home is to choose a great estate agent like Jordan & Halstead, for example, who are very affordable in your local area, as well as being good at their jobs, so that they can maximize the price you get for your home. 

That’s why you should take your time to check out local estate agents before making a choice, instead of just going with the first one you find. A lot of estate agents will tell you exactly what you want to hear and promise you things that just aren’t possible, all while charging a premium, If it sounds too good to be true, it probably is; find the sweet spot where price and reputation meet and stick with that.

How to save money selling your home image white and brown concrete bungalow under clear blue sky
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Don’t do too much work

Many homeowners will try to maximise the return on their homes by renovating them before selling. Sometimes, this can work well because things like a new kitchen can add value to your home, but the thing is, this doesn’t always work, and unless you know what you are doing and have totally studied the local market, you probably shouldn’t make more than a few cosmetic changes and necessary DIY jobs. If you do what to carry out a bigger renovation, research how much value it is likely to add to your home, and if that figure is less than the cost, don’t get the work done.

Keep your emotions in check

So many homeowners have settled for a lower price simply because their emotions have gotten the better of them and they haven’t wanted to sell to a particular buyer, perhaps because they feel like they won’t look after the home or that the home is not right for them, and although this is totally understandable, it is not very sensible. If you get a good offer, not taking it is only going to cost you money in terms of the extra time and effort that will have to go into finding another buyer, not to mention the fact there’s no guarantee you will get a similarly large offer next time. Selling your home is a financial transaction and the more you can remind yourself of that the better.

Saving money when selling your home can be difficult because there are many costs that cannot be avoided, but it is, as you can see, still possible to cut costs and maximise your returns here and there. Stay calm, look fairly at the finances and don’t be too rash during the process and there’s every chance you’ll save.

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Here’s Why You Should Buy A Brand New Home

April 20th, 2021 Posted in Property Investment
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Are you thinking about purchasing a property this year? If so, then you have two main choices. You can think about purchasing a new home on the market. Or, you could consider a fixer-upper. We think the former decision is the right choice and there are a few reasons for this. 

Fewer Issues

One of the first reasons why you should buy a new home is that there are going to be fewer issues with the property. That’s important because older homes are always going to have a vast range of problems. Parts are also going to break far more quickly than you would like. For instance, you might find that you need to replace the boiler a couple of months after moving into a fixer upper. This isn’t going to be the case with a new build because – as the name suggests – everything is going to be brand new. 

Location, Location, Location

Before you buy a fixer upper, it’s important to ask yourself why it has been left in a state of disrepair. The answer is usually that the owner isn’t interested in the location of the home. The location could even be a reason why the home is never going to accumulate value, regardless of what changes you make. New builds, on the other hand, are always going to be part of exciting, up and coming areas. If you want to explore properties like this, then we recommend that you do think about looking at a company like Salboy. They will be able to help you find the best new properties on the market right now. 

The Modern Home

If you are buying a property that you’re going to live in – at least at first – then you should always consider what you want from the home. We imagine you are looking for a property that is going to be the perfect place to start a family. If that’s the case, then a new build will be ideal. As well as providing the right location that we mentioned, a new build will be kitted out with all the tech that you could need to make the home a dream come true. 

People Like You

Finally, if you buy a new build, you’re going to be living with people who are in the same position as you. This is true whether you are starting a family, retiring, or setting into middle age. Why is this? Well, new builds attract the same type of individuals particularly if they are part of a planned development. This ultimately means that you will be living in a community that you want to be a part of and that you do feel connected to. 

Here's Why You Should Buy A Brand New Home - new house image
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We hope this helps you realize some of the key reasons why you should purchase a new home rather than buying a fixer upper. While a new build is always going to be more expensive, it provides far more security in the long term and a vast range of benefits that should not be overlooked.

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Can You Afford To Buy Your First Home?

April 15th, 2021 Posted in Money Tips, Property Investment
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For the longest time, buying a home was one of those things that was just sort of treated as an expected part of life. It was up there with a career, a marriage, and all of the other things that make up the stereotypical path of someone’s life. Of course, as time has gone on these things have become less and less necessary to live a happy life but when it comes to buying a home, something else has happened. There are just as many people who would love to buy a home as before, but it’s become more and more difficult. The reality is that with house prices constantly going up and wages stagnating, many people end up feeling as though the idea of actually being able to buy a home is little more than a fantasy. But is that actually the case? Of course not! The truth is that it’s still entirely possible to buy a house, even if it’s not as easy as it once was. You’ve just got to be prepared to put in the effort to understand the process, and make sure that your finances are in the right position to do it. With that in mind, here are just a few things to consider when trying to figure out if you can afford to buy your first home.

The mortgage

Can You Afford To Buy Your First Home? - growing money in jars image
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The most obvious thing that comes to mind when people are thinking about buying their first home is the process of getting a mortgage. After all, unless you happen to be extremely lucky, you’re very likely not going to be in a position to buy a home outright. (If you are then what are you doing reading this?!) The issue for a lot of people is that the process of getting a mortgage can be rather scary and complex. After all, you often end up having to wade through stacks of paper with all kinds of confusing clauses and small print. Not only that but your success in actually applying for a mortgage can often depend on a number of factors. Before you start, it’s best to get pre-approved before you start house hunting; check out this guide for more information on managing that as it can be tricky. Using something like a home loan eligibility calculator is a great first step in checking to see what kind of mortgage you may be able to take out. That way, you can figure out any potential changes that you might need to be able to buy a home and what it could end up costing you in the long term.

The deposit

One of the biggest barriers to a lot of people’s ability to buying a home is very likely to be the deposit. For many people over the years, they’ve been able to buy a home with incredibly small deposits that made buying a home and getting a mortgage a whole lot more accessible. This is something that has become even more pronounced in the era of COVID-19. Where previous generations might have been able to get a home with a 1% or 2% deposit, there are many lenders who won’t accept less than a 10% deposit in the current era. When you combine that with the rising house prices then it’s clear that being able to afford a deposit is a much bigger challenge than before. However, just because something’s a challenge doesn’t mean that it’s impossible. The key is to start putting money aside as soon as possible. If buying a home is something that you’re really committed to then every spare bit of money that you have should be put away. Find new ways to budget to allow you to save more and every bit of extra cash that comes in should go in the pile. It isn’t necessarily going to be a fast process, but it’s the only way to really afford a deposit in the current era.

The fees

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It often comes as something of a nasty surprise to a lot of people when they realise just how many fees are involved in the process of buying a home. If you’re not aware of the fees that come with buying your first home then you could end up in some serious trouble. You have to consider mortgage fees, a valuation fee, a survey fee, a potential broker fee, your solicitors fee, and a whole lot more. Now, most of the time these are things that you will be taken through at the start of the process but you need to be aware of these kinds of fees well in advance so that you don’t go into the process assuming that you can afford a home when you simply can’t.

Your credit rating

As strange as it might sound, it’s not just a matter of having the money and actually being able to afford a home, you also need to be able to demonstrate that you can afford the payments in the long term. The way that this is calculated is through your credit rating. If you have a poor credit rating then it won’t matter whether you have the money for a deposit or not. Things like paying off your credit cards on time and making any loan payments in full is the best way to ensure that your credit rating is always in the best possible shape.

The truth is, while it is absolutely possible to afford to buy your first home, it would be a mistake to assume that it’s something that’s going to be easy to do. A home is likely to be the most expensive purchase you ever make and that’s not something that you should take lightly. If you want to buy a home then you’ve got to be willing to think ahead. It’s the kind of thing that you need to plan for and make changes in your life if you want to be able to afford it. The mistake that a lot of people make is that they assume that they can’t buy a home when what they actually mean is that they can’t buy a home “right now.” By planning ahead, managing your finances, and working towards a goal, you’re going to be in a far better position to buy your first home regardless of your personal circumstances.

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4 Smart Things Rich People Do That You Should Too

March 26th, 2021 Posted in millionaire mindset, Money Tips
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Are you interested in building up your finances and ensuring that you are in a stronger position? If so, then it does make sense to explore what rich people are doing with their money. Don’t forget, they’re rich for a reason and if you can learn their secrets, you will be able to emulate their level of success.

4 Smart Things Rich People Do That You Should Too - happy piggy bank and coins image
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Diversify

First, you should make sure that you are diversifying your income as much as possible. Experts agree that everyone regardless of their total income should have a few different avenues of profit that are part of their financial set up. In other words, you do need to make sure that you have a side hustle. This doesn’t have to provide you with a massive level of extra cash, but it should give you enough money that you can fall back on it if you ever need to. 

Speak To A Financial Advisor

Next, you should make sure that you are speaking to a financial advisor. The right financial advisor will look at your current portfolio and help you assess where you should be spending your money. They will work with you to guarantee that you make smart financial investments from day one, regardless of what your goals are. They’ll work with you to build up your goals too and make sure that you aren’t in a position where you don’t know where you stand financially. Experts like Glen Clemans of CGC Financial are always willing to help those who want to get their financial portfolio in order. 

Hire An Accountant


Rich people always have an accountant on their side. They come in handy for a variety of reasons. An accountant will be able to make sure that you are budgeting the right way and not leaving anything out of your calculations. They might even be able to find a little more money in your budget so that you have extra cash to spend on the things that you want. An accountant will also be useful when you need to pay tax. They’ll help you find legal ways to pay less tax so that you can keep your costs under control.

4 Smart Things Rich People Do That You Should Too - calculator image

Invest In Property

Finally, once you have built up enough money in savings, you should be considering what investment options are available to you. One of the best is always going to be property. If you look at the rich and famous, you’ll notice that they always have multiple houses and the reason for this is simple. It’s one of the safest investment options that you should definitely be exploring. You might think that you need a fortune to invest in property, but that’s not the case. Instead, you just need to find a smaller home, buy it and build up your portfolio from there. 

We hope this helps you understand some of the key steps that rich people do take with their finances. If you follow in their footsteps, you are always going to be in a far stronger position with your money. 

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4 Savvy Ways To Invest Your Leftover Cash

March 3rd, 2021 Posted in Investment, Money Tips
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One of the best ways to build wealth is to reinvest your leftover cash. So, if you find that you regularly have a rather sizeable sum left in your account when your next pay cheque lands, then you ought to start doing something with it and investing your money in profitable, sensible ways.

4 Savvy Ways To Invest Your Leftover Cash - piggy bank image
Image by 3D Animation Production Company from Pixabay

1. Investing In Classic Shirts

The market for classic sports shirts and vintage kits has boomed recently, with millennials and Gen Z desperate to don the names of their heroes and idols from the 80s, 90s and early 2000s on their backs. Sites like Classic Football Shirts charge high prices for rare or vintage football kits, so if you have a little extra cash lying around why not see if you can find some popular jerseys for cheap either online on sites like eBay or in your local charity shops. Alternatively, you might decide to look to the future rather than make a quick buck and purchase a couple of popular sports shirts from today that could grow in value in the future.  

2. Buying Cryptocurrency 

The recent rise of cryptocurrency has seen the price of the like of Bitcoin, and newcomer Dogecoin, skyrocket. Don’t miss out by buying Dogecoin, Bitcoin or another cryptocurrency today, as you could be sitting on an absolute goldmine in years to come. There is plenty of risk attached to this strategy though; there is no guarantee these stocks will rise. That said, if you have the spare cash to invest, then you should be able to take the gamble and hopefully come out better off.

3. Put It Into Your Pension

Fancy retiring early? Then this could be your route to achieving just that. Upping your pension contributions is the ideal, tax-free way to save away your leftover cash and truly begin investing in your future. Your pension pot will only grow bigger with inflation, and the taxman can’t touch it, so this is a surefire, foolproof way to store your money away and seeing it grow with little effort. Result!

4. Get On The Property Ladder

Finally, the most expensive of ways to savvily invest your extra cash is to put it towards a deposit for a house. Getting on the property ladder is tough but investing in real estate is one of the most secure and potentially lucrative investments you can make. There aren’t many quick wins in investing in property unless you get particularly good at buying and flipping homes thanks to quick renovation jobs, so you might have to be a bit more patient to see a return on this investment. Nevertheless, putting your money into property could quite easily earn you a pretty penny, and it is an excellent way to invest your leftover cash. 

Ultimately, there are plenty more ways to invest your money that we haven’t covered. However, these four tips are some of the savviest ways you can use up leftover cash to make a profit. Whether it’s something as cheap as picking up a classic football shirt, or something much pricier like buying a house, investing your money in any way is better than just letting it sit there. 

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