First-time buyer Angela Zambito used her extremely frugal lifestyle to help save a deposit to buy her 5 175,000 three-bed home.
The 32-year-old doctor says some think he is “tight” with money – but his frugal lifestyle and a decent salary have helped him buy cash from friends or family.
For example, she saved £ 600 by not buying clothes for a year.
She also estimates that she saves £ 200 a month by limiting her food and transportation, as well as growing her own vegetables.
Angela was a student when she started saving – but when she was ready to buy six years later, she was a high income tax payer, meaning she had the right mortgage to secure her mortgage.
She was saving £ 500 a month before the epidemic, but she increased her savings during the lockdown, removing a total of پون 1,000 a month as the nation was told to stay home.
At the time, she was paying 700 700 a month in rent.
He bought his three-bed home in Mainfield in June this year, with a deposit of ، 25,74,750.
Once he got the keys to his property, he kept track of his prudent spending habits, talking about his home furnishings.
He saved over £ 2,000 by buying old furniture from Facebook Marketplace, eBay and charity shops, and replacing the pieces with sanding and varnishing.
We sat down with Angela and listened to how she bought her home on a budget for The Sons My First Home series.
Tell me about your home.
This is a three bedded house located in Mansfield.
One of the bedrooms was turned into a walk-in closet by the previous owner – I kept it that way because it is great for storing my clothes and looks cool.
Upstairs is a bathroom, and below is the open plan kitchen, dinner and living room.
There is a large utility room that runs down the length of the house where my boiler and washing machine live – with my three cats.
There’s a nicely sized garden in the back – I’m growing cucumbers, juices, corn and tomatoes.
I’m not planning to rent a spare room – I’d rather have a home of my own.
How did you decide the location?
My home needs to be close enough to meet my friends but also close to my work.
I also wanted something ready to move into – I don’t have the time or the house to work.
The house was also an amazing value for money – but I think the reason is that it’s off a busy main road.
I think if it was on a quiet street I would have to pay £ 250,000 for it.
How much did you pay for it?
I paid 17 5,175,000 for it, and kept a 25% deposit of ٪ 44,750.
My mortgage payment is 55 2,552 per month – I took a 25-year mortgage of 13 135,000 at a fixed rate of 9 1.9.
I wanted to have a large deposit to get a good rate and not to pay high interest overall.
How did you save for that?
Some people may think I’m a little tired of money, but I’m about to reduce, reuse and recycle everything.
I don’t go out to eat because I like to cook – and I grow my own vegetables in the back garden.
While a person can easily spend 60 60 a week and go out, I only go to dinner twice a month – so I save 200 200 more than the average person.
I use my lunch at work instead of shopping in the canteen.
You can easily spend 5 on it every time – but when I make my own it costs about £ 1.
I also like to do charity shopping for some of my household items – you can get a 25 25 trunk and books for just ڈالر 1.
When it was a lockdown, I saved a lot of money by not going to the stores to buy clothes all year – I saved about 600 600.
One of the things I spend most on is the holidays.
I go to the US three times a year because I’m American – even though I’ve been here in the UK for 10 years – and I also spend other vacations, which cost me an average of. 3,000.
But I always book an Airbnb to cut costs – it’s a great way to get the most out of the culture – and I didn’t go on vacation at all during the Quaid, so I did it last year. Saved a lot.
Before Coved, I was saving at least 500, but last year when we were all locked down, I was saving an average of پون 1000 a month.
How did you present it?
One of the most important ways I could save on my home was to buy most of my furniture second hand and upcycle it – I think I saved over £ 2,000.
I bought a dining table and four chairs from the Facebook Marketplace for only £ 150.
I sent it and bought some Danish oil from B&Q to give it a change – I looked at the dining table set as if I was going for at least 1,000 online.
I did the same with a dressing table that I got for £ 10, a coffee table for £ 45 and a shelving unit for £ 10 – all second hand.
If I had bought them brand new I would have spent £ 350.
My two bed frames were £ 80, while brand new ones that look the same are selling for £ 200 to £ 500 – I think I’ve saved 700.
Also, my plates were 4 4 from a charity shop – a brand new set would cost 40 40.
I have a lot of fun and the furniture looks amazing – I get a lot of positive comments about it.
Was there a complication in buying it?
I saved so much because I couldn’t get a mortgage until I became a permanent resident in the UK.
I became a permanent resident in March of this year – and only then can I get my mortgage approved and buy a house after that location.
Then, after that, it took me two and a half months to exchange at home.
Although it’s about the average length of time, I was planning to start a new job in the area I was going to.
This meant that as soon as the exchange date was pushed back, I had to postpone the start date for my new job for three weeks.
I finally moved to June.
What is your advice for first time buyers?
I find it sad that first time buyers are always thought of as a couple.
When my friend bought me a Moving In card, he didn’t get a card for the first time buyer that he could give me.
But I think it’s sad – you can buy a house even if you don’t have anyone else to help you.
It’s awful to spend all that money and do it yourself – but all you have to do is make sure you keep track of your savings and you’ll be able to buy your home soon.
It’s great to live in your own home, and I hope women think they can too.
See how Dami Rochford, a mental health nurse, took a second job to borrow an extra 26 255k and got her home 255k first.
Here’s how a savior saved 4 4,000 in cash when he bought his first 420,000 home.
A savvy saver reduced his monthly expenses by ڈالر 1,000 to buy his first home for 21 215,000 in just two years.
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