The Dos And Don’ts Of Setting Up Your First Home
Moving out can be a confusing time for anyone. You’ve recently graduated, and now you’ve got to find somewhere to live to begin the life that you have been working so hard to build towards. Unfortunately, there are problems that can arise when you have found somewhere to live, and in this article are going to be some handy tips on how you can avoid disaster when setting up your first home.
Deposit
As if you haven’t forked out enough already for college, you will now have to think about saving for a deposit for a property. Whether you choose to rent or buy, it’s a large amount of money to be expected to immediately have.
Do
- Ask friends and family if they can help towards the initial deposit on the property that you want.
- Head to your local council to see if they can help house you somewhere within the area that you’re working. Bear in mind that housing associations can take a long time to house you due to high demand. They can however, help towards paying a deposit for a rented property.
Don’t
- Lend from payday sharks, as this can land you in a lot of debt if you’re unable to pay it back, and let’s face it, being a newly graduated student normally means you have no money
- Place a deposit on a property that you can’t afford. Make sure you work out all of your finances beforehand and make sure you’ve got enough spare to live comfortably.
Furnishing Your New Home
It’s likely that you’ve been using the furniture you had at your parent’s house, or furniture that the campus provides when you go to university, so you will need to begin thinking about buying your own furniture for your new home. The best way of doing this, is to buy the essentials first like a bed and a sofa for the living room and then over time buy the other things that you want in your home as you can afford it.
Do
- Buy a bed that’s going to last you. Going for a second hand bed and mattress won’t last you long and is often uncomfortable. Head over to John Ryan by Design for more information on buying new and how you could afford to do so.
- Unlike buying a bed, when you buy a sofa you have a bit more freedom to cut corners with the cost because it’s likely that when you want to decorate your home, you will want to get a matching sofa. Buying second hand sofas is really easy in this day and age with sources like eBay and Facebook selling groups constantly updating. You will probably be able to find a second hand sofa in your area for a decent price.
- Ask family and friends for any furniture that they don’t want to be donated to your new home. You will find that many people are more than willing to help out as much as possible.
- Head over to chain superstores like Argos to buy yourself your kitchen essentials. They will often to a whole set for a very reasonable price.
Don’t
- Go for furniture on finance. Even though it seems like an easy route to go down, it can land you in a lot of debt which consequently, can ruin your credit score for the future when you decide to make larger purchases like a car or a home. You will also end up spending much more money than if you simply saved and bought the item directly.
- Don’t let yourself rush into completing your home. It’s understandable that you may not have many belongings because you have recently graduated. Take your time and save your bank account.
Bills
The idea of having your own place often seems glamorous to people wanting to move out from their parent’s house. This is, until they are hit with the responsibility of paying their own bills and budgeting to make sure everything is paid. Many people don’t realise how many things you have to pay for when you have your own place, and that’s not including rent or a mortgage. Before you even consider moving out, speak to some trusted family members, or go to citizens advice to get yourself clued up on what to expect. You can also begin budgeting so you have more of an idea on what kind of property you can afford, as previously mentioned.
Do
- Once you’ve moved in, phone your utility bill providers and talk them into giving you the best deal. They will often ask you what kind of service you can afford. Always make it seem like you don’t have much money, and they will give you the best deal around. This is because they want to guarantee they will be paid every month.
- Set up direct debits. Once you have chosen the provider that you will be using, setup a direct debit with them so that you don’t forget to pay by accident. Not paying can quickly mount up debt and you may find yourself unable to pay with notices coming through your letterbox.
- Make sure you’re using the minimum electric, gas, and water. This will ensure that your bills stay low and it will be fair on the environment.
- Before settling with a provider, shop around for companies that offer the best deals.
Don’t
- Load yourself up with unnecessary bills like gym memberships and magazine subscriptions. They might not seem like much out of your budget but for now, stick to the essentials only.
- Complicate things. When it comes to choosing an internet provider (which may be essential for some people,) make sure you’re going for a bog standard deal. Keep it simple.
Following the three ideas in this article will allow you to set yourself up in your first home comfortably. Once you’re established in your new home and you’ve begun to save money, you can then think about adding all of the luxuries that you’ve dreamed of. Enjoy your new home!
