In the modern age getting on the property ladder is on many young people’s minds, however saving for a deposit can be a daunting and difficult process.
However, while the process can be arduous there are minor amends you can make to your lifestyle which will help you when it comes to saving the pennies. We laid out some easy ways you can reduce the cost of living and save up for a deposit to put down on your dream home!
1. Coffee on the way to work
Many of us are guilty of needing our coffee fix to get the ball rolling in the morning, but how much are we wasting on our caffeine boost? The average Starbucks coffee costs £3.25. This all adds up and as the old saying goes, ‘look after the pennies and the pounds look after themselves’, could be true here – your coffees could equate to roughly £720 a year!
With contactless cards now the norm, it can be very easy to get tap-happy and lose track of how much you have spent, especially on a night out. Grab yourself a Monzo card and with each purchase you make, you will receive a notification, helping you keep your spending in check.
3. Bike to work
Whether it is the bus, train, or tube, travel costs can be extremely expensive. If it’s possible to bike to work, why not give it a go? You can save yourself a lot of money and get fit while you’re at it.
4. Have friends over for drinks
The cocktail trend came to the UK a few years back and has been growing ever since. And while a night out at a trendy cocktail bar is lovely, making it a regularity will really make a dent in that deposit fund. So why not invite your friends over and have your very own cocktail making evening, in the comfort of your own home? Try your hand at a few of your favourite blends while enjoying the conversation which can sometimes get lost in the hustle and bustle of your favourite cocktail bar.
Here at Harron Homes, we want to help prospective buyers make the move to their dream home as easy and cost effective as possible. With that in mind, we offer a variety of purchasing incentives designed to reduce the burden on those looking to make the next move.
With our Help-to-Buy scheme, buying a new Harron home has never been more affordable! This Government-backed scheme means you could move with just a 5% deposit. Click here to find out more.