November 20, 2017

How to Save While Setting up Your First Home

Setting up your first home is an exciting time, it is an important part of becoming a fully independent person. But it can also be extremely expensive, in fact it isn’t until you’ve had to furnish a home for yourself that you realise how costly it can be. Here’s how to save more while setting up your first home.

Beg, borrow, and bargain

Some of the big ticket items like a fridge, washing machine and bed can be quite expensive, so try to get one for free or second hand. Someone you know might be upgrading their furniture and be willing to give away their old items. Otherwise, second hand shops have a decent range of furniture at good prices. It is also worth looking at www.gumtree.com.au, if your able to collect large items yourself you might get them for free.

Purchase over time

Apart from the bare essentials, try to purchase items as the need for them arises. Instead of going out and buy lots of things you think you will need spend some time living in your house and making a list of things that you actually would have used but didn’t have. After a month head out to get these things then start the process again. This will save you from filling you house with juke that will sit unopened for years.

Buy quality, buy once.

Ever been to your grandparent’s house and been bemused to discover that they have furniture that is older than you? That’s because they purchased quality products and you should too. If you buy really cheap items they simply will not last, invest in good quality items that you will not have to replace. Solid wooden furniture or quality brand electrical appliances will be more cost effective in the long run. It may be better to get something second hand but good quality, than a cheap new product.

Be alternative and creative

There are many different ways to live and not all require the expensive furniture that is common in western homes. Some cultures eat meals on the floor over rugs, or on a low table, which negates the need for a dining set. It is also easy to ‘construct’ wardrobes and shelves you don’t even need to use tools. Try searching online for an alternative you can DIY before you make an expensive purchase.

By using these tips to save money setting up your first home you will have more to pay down your debt which will be far more beneficial to you in the long run than lots of furniture.

Instead of going out and buy lots of things you think you will need, spend some time living in your house and making a list of things that you actually would have used but didn’t have. After 1 month go out and by the necessities.

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