On Tuesday, provided the removal company honours its side of the deal, I will move into my new home. To say I’m excited is an understatement. More like over the moon.
It has been a long time coming – and all down to me. Fourteen years ago, I (quite rightly) got kicked out of the family home after admitting to an affair. As a consequence of my dastardly behaviour, I had no choice but to find a flat to rent – with my wife (quite rightly again) staying in our mortgaged Hertfordshire home.
Since 2012, I estimate I have frittered away £200,000 in rent to landlords: some good (my current one) and some bad (the overseas owner of the London flat I moved into in the immediate aftermath of our separation, who was reluctant to pay for any repairs).
Yes, money down the drain. Note to readers: before committing adultery, have a think about the financial fallout.
Yet my tenancy days are over. I’m joining the UK’s army of proud homeowners with the purchase of a modest late Georgian mid-terrace house in Wokingham, Berkshire. Two bedrooms, a longish narrow garden gagging for love from my green fingers and a shed to reflect in. It will do for me.
The cherry on the cake is that post-divorce, which we only got round to doing late last year, I was able to buy the pied-a-terre without requiring a mortgage. So, now, not only am I rent-free but I don’t have a home loan. Yippee!
The transition from tenant to homeowner hasn’t been without cost. There will be an end-of-tenancy clean to fund and I would not be surprised if I lose a chunk of my deposit to repairs needed before the new renters move in.
Maybe I will be able to argue that some are a result of natural wear and tear (I’ve lived in the flat for four years) but not the damage caused by the removal of some picture strips (not hooks), taking with them the paint from the walls.
Since 2012, I estimate I have frittered away £200,000 in rent to landlords: some good (my current one) and some bad
On the energy front, I opted for a two-year, fixed-rate deal from EDF, which I secured last month ahead of moving in after taking ownership of the home
I await the outcome with a degree of trepidation – I could do with the deposit to help fund work on my new home.
This work has already begun with a local decorator (a mad keen Everton fan) doing a marvellous job painting the internal walls in brilliant white. His wife, who brought him lunch every day, describes the property as ‘quaint’. I’ll take that as a compliment.
New carpets throughout – plus replacement kitchen flooring – have been ordered and should be laid (touch wood) before Tuesday. I’m also hoping two built-in wardrobes will be in situ before the removal team starts moving my vast collection of books, CDs and vinyl into the new abode.
Sorting out utilities has been time consuming, but I’m about there. On the energy front, I opted for a two-year, fixed-rate deal from EDF, which I secured last month ahead of moving in after taking ownership of the home.
Given the likely rise in energy prices later this year in response to the conflict in the Middle East, I think it’s one of my shrewder financial decisions in recent years.
It will mean fixed unit prices for gas and electricity until March 2028. Provided I keep an eye on energy usage (I’ve got a wood-burning fire in the front room if push comes to shove), I am hoping any energy crisis will pass me by.
I’ve also done something I’ve never done before, which is opt to pay my energy bill every month rather than by a direct debit payment determined by EDF.
It means I will not build up inevitable credit on my account which is only in the best interests of the energy provider, not mine. It’s something my partner Leonie does – and I think it’s rather a good idea.
On the broadband and mobile front, I’ve opted for a packaged deal from EE, which provides access to live sport
After attending an energy-saving talk at local charity Clasp, Leonie now insists I turn off my TV at the wall: leaving it on standby costs £45 a year. Showering rather than bathing after running will save me up to £200 a year, while more can be saved by not using the tumble dryer that came with the house.
These are all tips my colleague Toby Walne has long preached, but which I never acted upon – until now. Leonie will ensure I do.
As for a smart meter, I’m not tempted – how can I be after all the problems Money Mail have identified over the years? But I suspect EDF will be on my case.
An air source heat pump, the love of Ed Miliband’s life, is out of the question. Not just because they are way out of my financial league (even after the ludicrous £7,500 grant offered under the Boiler Upgrade Scheme) but also on suitability grounds.
There isn’t sufficient outside wall space at the back or side of my new home to host one – and even if there were, I am sure its installation would wave goodbye to building cordial relationships with neighbours Toby on one side and Sam and Kate on the other.
Although the gas boiler needed love and attention (£270 of gaskets and other paraphernalia), it’s staying in my house for as long as I do.
On the broadband and mobile front, I’ve opted for a packaged deal from EE, which provides access to live sport. I’ve already used it to watch my beloved West Bromwich Albion Football Club grind out a hard-earned draw against Blackburn Rovers when train issues prevented me watching the game from the away end at Ewood Park.
Maybe I could have got a cheaper deal by pick and mixing, but the EE package is convenient. And, in case you’re wondering, not once did I contemplate plugging an illegal firestick into the back of my TV to hack into a galaxy of premium channels, subscription services, films, and live football. If you are one of the four million households that use such a device, I urge you to read Toby Walne’s excellent Money Mail article on the crackdown launched by the police. They’re coming for you.
The house move has also prompted me to make two other key financial decisions.
First, I’m giving a car a miss for all kinds of reasons: cost, the difficulty of parking on the road I will live on (I have no drive or garage) and the constant financial attack launched on motorists by local councils and the Treasury.
My hometown of Wokingham has been gridlocked for months as a result of new roundabouts built for questionable reasons. Trains, legs and a bicycle will do for me.
Second, it’s time to bin most of the contents that have sat inside a Ready Steady storage unit for the past three years: a motley collection of books and football memorabilia. I’m embarrassed to say the unit costs more than £300 a month. A heavy price to pay for a mix of procrastination and hoarding.
These units, now big business, work as a short-term solution for those in need of a temporary secure place to store goods. Long term, they are a financial luxury.
New home, new cost-conscious me. The country is heading for a cost-of-living crisis, and I’m determined to escape the worst of it.
Please do the same. Look at your outgoings and trim wastage.
