How much money do I need? Buying your first home can be expensive so it’s important to understand how much you need to budget for and save to cover additional costs.
Transcription
So at Black Grace Cowley we would recommend that you have at least a five percent deposit saved in the Bank. But best to try and save 10 percent. It’ll help you in the long run, the longer you can perhaps stay at home or rent where you are and save a deposit the better. It can also help you find the perfect home, not rushing to buy, we would never recommend rushing into buying just because you’ve got your deposit and you’re good to go. It doesn’t mean that you have to buy straight away. I would also recommend saving some money aside for purchase costs. These can vary depending on which advocate you choose and obviously the surveyor cost and Bank costs but normally try and save as much as you can to help you with that purchase. We’d hate for anything to be held up for the fact that you having to possibly go back to Bank of mum and dad or ask for help or miss out on purchasing that property because you haven’t quite got the funds in place.
