Buying and maintaining a home costs a lot of money; that’s why you need to think about how you can make long-term savings on the property. Here are 4 ideas to help you out.
1. Avoiding a Mortgage
For a lot of people, mortgages seem like the only realistic way into the inflated property market, which now seems like a realm reserved for the rich and their offspring. There are ways around the mortgage trap though. And by avoiding a mortgage you’ll make major savings in the long-term.
One way to buy a home without a mortgage is to lower your aims and buy a more modest home after saving up your money for a while beforehand. Alternatively, you could group together with some friends or like-minded people and spread the costs of home ownership between you.