If you’re one of thousands of young buyers about to purchase a first home, your thoughts will soon turn to moving in and decorating.
Planning how you wish to live in your new space is a great idea if you want to furnish your rooms comfortably within a budget.
These are our top tips.
Focus on inclusions
When inspecting a property, especially apartments, always ask which appliances are included. You can save thousands of dollars if items such as a washing machine, dryer and dishwasher are included in the deal. Don’t assume they are – and always ensure they’re cited in the contract if the vendor agrees to include them.
Allocate budget
When applying for a preapproved mortgage, you’ll be advised to include sufficient money for legal services and bank fees. On top of these, you give yourself enough cash to buy essential furniture and homewares.
Pick a style
It’s a good idea to pick a style for your interior. Websites like Pinterest are great for inspiration. You don’t have to stick to a style slavishly, but it will help give visual consistency to your home.
Spending priorities
It’s often a good idea to invest in a few substantial pieces you love, like a sofa, bed or rugs. It’s too easy to fritter away your precious cash on smaller items like lamps and bric-a-brac, which you can collect progressively later.
Take your time
You don’t need to fill your home immediately. Spreading furniture shopping over several weeks or months will help the cash flow. It may also mean you can afford to spend a little more.
Sweet deals
You can save thousands of dollars by timing your purchasing with end-of-year sales or retailers’ frequent discount deals. Good quality second-hand furniture is also worth considering.
Shop around
Don’t focus on one retailer. There’s so much choice available today that you should be able to find precisely what you want. But again, once you’ve chosen an interior design or concept, stay in that lane. You don’t want your first home to look like a secondhand store.
Credit terms
Be aware that many retailers will offer “buy now, pay later” deals. While these seem very tempting, check the interest rate and repayment terms.