Managing Your Finances
Everyone knows that finding a new home and starting the moving in process is a huge expenditure, and failing to properly account for everything can lead to a nasty surprise within your first few weeks of moving in. Although this is something that everyone knows, it's not necessarily something that everyone addresses before taking the leap and moving in, so here are some of the the things we feel you need to address before you saunter off to your new home, thinking you have not a care in the world!
Everyone knows that finding a new home and starting the moving in process is a huge expenditure, and failing to properly account for everything can lead to a nasty surprise within your first few weeks of moving in. Although this is something that everyone knows, it’s not necessarily something that everyone addresses before taking the leap and moving in, so here are some of the the things we feel you need to address before you saunter off to your new home, thinking you have not a care in the world!
Managing Your Finances
Make sure you have a rough idea of what everything is going to cost
Take into account your rent, all of your bills (including your food), insurance, and a rainy day fund just in case something goes wrong with something important in your home that you need to replace sooner rather than later. Before you’ve actually moved in a lot of this will be guesswork, but there are a few calculators online that will give you a rough idea of what you can expect to be paying out for things. Asking around your family and friends can help give you an idea, too.
Don’t forget your initial moving in fees
Often there will be a security deposit to take into account, as well as agency fees, referencing fees and even fees for your guarantor; not to mention the cost of moving your belongings, and the cost of buying the rest of the things you need to fill your home. You’ll need to account for these things ahead of time, too – make sure you don’t forget anything or you could find yourself running out of money fast! We recommend just sticking with the essentials to start with, and just building up the rest of what you need for your home as you go along.
Make a budget
Once you know exactly what you need to pay, make a budget of all of the income you have, and how much of it goes back out on household and personal expenses. Be sure to include any little extras like your Netflix account, and your personal expenses. This will help you see exactly where your money comes from and goes each month, so if you need to pull it back a little bit, you’ll be able to see where you can do this.
Stick to your budget
This is pretty self explanatory – once you’ve made your budget, make sure you stick to it!
Start saving as soon as possible
Having a little nest egg of savings is a brilliant idea when you’ve just moved into a new property. Whether something goes wrong, you want to make some improvements or you just fancy upgrading an appliance, at least you’ll know it’s there to use.
Real Estate, redefined
Regardless of your budget when you’re moving home, you should always ensure you’ve got the very best industry professionals giving you the help you need to make moving into a new home as seamless and stress free as possible; here at Domobase, we aim to accommodate this need. We put you directly in touch with first class Real Estate Agents and Landlords, allowing you to find your new home the easy way! All you need to do is download our app, fill in your details and link up your social media profile. Once you’ve done this, we’ll have someone get in touch with you within a few days to show you some fantastic properties that you’ll absolutely love.