3 Money Matters to Consider When Buying a Property in Sheffield

With its proud industrial history and incredible reputation for arts and culture, Sheffield is truly an incredible place to call home. Now, recent reports have hinted at just how much it could cost to live in the city, with fresh data providing an insight into property prices across the local area.

House price rise

At the start of September, The Star reported on new Land Registry figures which highlighted that the average house price in Sheffield rose slightly during May. The average property value of £169,872 marked a 0.4 per cent increase from the previous month, with that being higher than the UK average rise of 0.3 per cent. The research revealed that prices in the city had risen by 2.5 per cent across the last 12 months, with Sheffield being 12th out of Yorkshire and Humber’s 21 local authorities in terms of annual growth.

Such information provides a fascinating glimpse into the state of play in Sheffield’s property market, but if you’re looking to buy your first home in the city what can you do to get ahead? Whether you’ve lived in the city all of your life or are looking to move here, here are some key money-related issues you will need on your agenda.

1. Find the right mortgage

Getting a good deal on a mortgage should be a top priority when buying a new home. Fortunately, there are tools you can turn to for help. Using, for example, Trussle’s comparison service of the best mortgage deals brings up all the suitable providers in one summarised list. You simply have to fill in some basic information on how much you would like to borrow. You can also read useful information at the site – such as average mortgage interest rates or an explanation of what true cost is – to ensure you’re making an informed choice.

2. Check other costs

While a good mortgage deal is vital, it is also useful to have some idea on what you will be spending on other things. This might include utilities, insurance and council tax. In terms of the latter, you can head to the Sheffield City Council site to discover how much you will pay on your new property. Homes can fall into one of eight bands, so avoid any surprises by checking this from the outset. It’s also very important to know whether you might be entitled to any discounts or exemptions, as that could mean a welcome reduction in this cost.

3. Get removal quotes

You should also consider the literal costs of moving by getting some quotes on different removal services.  As well as analysing the actual price of services, consider what you get as part of the deal. For example, Pickfords offers secure storage and packing services, as well as local removals teams and a ‘move manager’ to help you through the process.

Source: Pexels

Start planning your move

There are many different elements to consider when moving house, but money issues are often a key concern for most people. Hopefully, the suggestions above have given you some idea on how to get ahead on such issues as you start to plan your move in the Sheffield area.

The city is a vibrant and exciting place to live at the moment, so it may well be the time to start preparing for your next step and doing some research into potential new properties today.

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