Buying a new home is one of the largest purchases most people will make during their lifetime. Luckily there are many ways to reduce the overall cost involved with the purchase, move, and costs of operatation thereafter. The key is to have a clear plan and then follow it to the letter.

Saving on the Purchase

Whether you are moving across the country or to the next state over, doing research on the type of homes (like one in default versus a regular buy) and a thorough check of the area prior to signing any contracts is important. An owner looking for a quick sale or a bank looking to unload a home can present an opportunity to pick up a home for much less than you might imagine.

There are also other things to consider that can impact the overall costs of the home. This includes things like the home’s precise location–perhaps buying a home just one street over can save you thousands on property taxes that can impact your monthly mortgage premium. Additionally, it’s also in your best interest to put as much down as possible to meet the 20 percent minimum required to avoid paying PMI insurance. PMI insurance, depending on the cost of your home, can add a few hundred dollars to the monthly payment. Paying down your debt will also help to increase your credit score and, as a result, give you a better chance of obtaining the lowest interest rate available.

Cutting Your Moving Expenses

The process of moving your belongings across the country is expensive and because of this, it can also become very stressful. The good news is that if you are planning on using a moving company like North American Van Lines, there are many ways to reduce the overall cost. Since all companies offer variations in their fees, it’s smart to shop around to do research on company rates, as well as customer service experiences. When you do this, make sure you get all of your quotes in writing. If you have control over the time of year that you are purchasing a home and will be planning the move, scheduling it for the off-season, anywhere from October through February, can save you a lot of money. If that’s out of your control, then scheduling the move on a weekday will at least help you get a moderate reduction in fees. In addition, doing some of the labor yourself–like packing up the boxes and getting the supplies for free from local stores with also help you to save money.

Saving Money Monthly on Your New Home

Once you settle in and get your things unpacked, you can make changes to the home that will help you to reduce your monthly utility and heating expenses. Doing things like changing the light bulbs to LEDs, adding a programmable thermostat, and replacing insulation can save you hundreds of dollars over the course of a single year. Additionally, trading out older appliances to new, energy-efficient models will reduce your utilities even more. If you purchased an older home, changing out single-pane windows and doors will not only save money but also help to improve your level of comfort throughout the year.

Shop Around for Services Before Moving In

With all of the details involved in buying a home and a dealing with the scheduled move ahead of you, you may take for granted that all utility companies and cable service providers are the same. This is simply not the case. Shopping around ahead of time is important. Take a day out of your hectic schedule and contact several in the area to make sure that you are getting the most for your money.

Buying a new home is exciting and expensive. In order to make the process rewarding for you and your family and reduce the stress, make sure that you cover all the bases from the home purchase, move and beyond. There are so many ways to save on the initial move, the moving company and once you settle into your new home.

By lucille