Still Searching for First Home
Back in August 2009, I posted about how I was going to be moving out of the family home. This all fell through, thanks to the vendors deciding they weren’t going to continue with the sale.
I am once again on the look out for a property of my own. I’m finding it quite difficult at the moment, having not much money currently saved towards a deposit. A few people have mentioned to me about renting somewhere for a while.
In my mind, the problem with renting is illustrated with the image to the left. By renting a property you are essentially paying off somebody else’s mortgage. I understand that there are situations where people are not able to get a mortgage – generally due to bad credit scores or even (as in my situation) not enough money to put together a 10% deposit.
I’m currently saving money wherever possible along with looking online and in estate agents windows in order to book viewings in as many properties as possible.
My reason for this post is mainly to discuss my ideas on property and being a home owner. I hope to be able to discuss my journey on this blog and keep everybody informed with what is happening.
Image Credit : Property Investment Project
Moving Out
For the past few months I have been thinking of moving out of the home I currently share with my mother and sister and moving into my own place. I didn’t leave home to go to University, I completed my BSc(Hons) Computing course at the local college, which makes this a huge step for me.
I have been living in the same house for over twenty years now and have grown used to the house and it’s surroundings – moving out is going to be very strange to begin with.
A local estate agency sent me a few properties via email and one in particular caught my eye. The house was a 2-up, 2-down terraced property that has been recently modernised, so I decided to take a look. I think I would call it love at first sight. The house looks very clean, there is very little work to be done and it is in a nice area on the outskirts of the nearest big town.
Once I had decided that I had found a place I liked, the next step was to get myself a mortgage. This proved to be no problem at all, as long as I can get together a 10% deposit to get me started. For this, I want to give HUGE thanks to my Father who is helping me out with a long-term loan!
Viewing the house for a second time, I was convinced this was the place for me, so I placed an offer. My offer was accepted and now I am in the process of having a survey performed and saving as much money as possible for furnishings.
Buying a house is the single-biggest investment of your life and at 23 I am very glad I have decided to do this. As long as the process goes smoothly, I could be moving in within eight weeks!
I will keep you guys updated with the progress of the sale and move and I will be sure to film a video tour when I move in.
Image Credit: blech on Flickr
