It can be tough to decide how to prioritize those big ticket items that seemingly all come at once in terms of needing to purchase them. You brood may be in desperate need of more living space, the old banger on your driveway should be upgraded, and your kids haven’t had a holiday in a couple of years. What are you going to do and how are you going to prioritize? Take a look at how you can plan for a new home, a new car and a vacation for your family.
New Home
When you are looking to sell up and move on, it’s vital that you take a two pronged approach. Firstly, you need to make sure that your home is dressed to sell. Whip out some sofa covers, put the kids’ toys away, clear the clutter and put out some scented candles. Make sure that your home can seduce your potential buyers with a lifestyle.
At the same time, you need to be researching the sorts of areas and property types that you can afford. Go for an area that is already established rather than an up and coming region. You want to be able to make a sure fire profit on your investment in the future when it’s time to move on again. You can always change a home, but never the location.
Ensure that you head to a reputable mortgage company and investigate the sorts of home loans available to you. Tracker, fixed and variable will all have their merits but opt for the one that keeps your monthly repayments low and gives you the security that you need. Keep spending to a minimum and don’t venture into your overdraft three months prior to making your application to maximize your chances of success. With any luck, your home move should be relatively stress free.
New Car
Forget the lure of the brand new never driven before the car. It will depreciate the moment you drive it away from the forecourt. Instead, opt for a reliable used car that has excellent fuel economy and is cheap to insure. This way you are not only keeping your initial outlay to a minimum, but you are also keeping your running costs low. Go for a test drive and ensure the car you like the look of handles well without any odd crunches or grinds from the engine. Strike a deal, and even part exchange your old motor to get a better bargain.
Vacation
Don’t worry if you can’t afford a two week jaunt overseas to an exotic location for your brood. Your little ones will appreciate spending quality family time with you anywhere in the world. Take a road trip in your new car, stay with friends across the state or have a staycation and take day trips to theme parks, gardens and museums. This sort of low cost vacation is great to give the whole family a chance to recharge their batteries, have fun and enjoy one another’s company.
It can be hard to work out what to do for the best when you see some heavy spending on the horizon. However, by budgeting wisely and prioritizing your spending, you can make some astute and sensible purchases.
