If in the New Year, you are planning to buy a new home, it’s time to start saving. The old adage is still as applicable as ever: “Look after the pennies and the pounds will take care of themselves”. Thinking in the hundreds and thousands can be tough, but it’s easy to accumulate savings if you just look after the pennies, or in our case, the dollars.
Create a Budget
The first thing you need to do is to create a budget. There’s a budding accountant in everyone, and if you want to save for Christchurch Real Estate, you need to know exactly how much is coming in and how much is going out; daily, weekly, monthly and annually. If you have a partner, you may want to combine your budgets or keep them separate, but you should both allocate a certain amount of money each week to go into your ‘Christchurch Property Savings’.
Keep an eye on your bank statement
If you’re unsure about what your daily and weekly costs are, it’s about high time you sit down and read through your bank statements. Highlight reoccurring costs such as the monthly electricity, Internet, phone and water bill, weekly petrol costs, average grocery shopping expenditure etc. You should average these costs and put them in your budget.
High Interest Savings
If you want to create a bank account specifically for your Christchurch property, you may want to talk to your bank about a high interest savings account. Either way, your bank will be able to inform you about how to go about saving for a house and how to get the most out of interest rates.
In order to keep you motivated to save, you need to set goals; both monthly and annually. You may be surprised how addictive saving can become once you get into it and start completing your saving goals.
Use our loan calculator to figure out how much your monthly repayments will be.
Name your price
Once you’ve decided on some goals, you need start thinking about what you can afford. The Christchurch Real Estate market ranges in price, and you need to decide how much you can realistically save for a new Christchurch property.
Search the Christchurch Real Estate Market
Now that you’ve started saving, it’s time for the fun part – to start looking at Christchurch property. There is something for every budget, every taste and every size.
Christchurch Property FAQ
Take a look at out FAQ page for more information.
Get in touch today
Call us at +64 3 355 6555 or email [email protected] if you have seen an advertised Christchurch Property you are interested in.