The Essential Guide to Moving from Renter to Homeowner

The Essential Guide to Moving from Renter to Homeowner

The following contribution is from another author.

If you are a renting veteran but feel like it’s time to put down roots, you probably want to buy your own home. The thought of spending another few years lining the pockets of a faceless landlord without anything to show for it can be soul-destroying. If you have managed to save a deposit for a home and you can’t bear the thought of renting any more, follow this guide to help you find your way onto the first rung of the property ladder.


If you aren’t sure where to purchase your first home, you need to get hunting for potential areas. While the up and coming area could be tempting because it’s cheaper, you may find that it remains up and coming for years to come with crime rates a little too high and amenities still lacking. For a safer investment for your first pad, you might want to opt for a more established area. Take a look at the property price history for the past five years. If they’ve continued to increase, then the bricks and mortar you buy will have less chance of falling into negative equity. Go for a location that has decent schools, excellent transport links, and great amenities. 

If you are keen to make money on your humble abode, go for the worst house on the best street and enhance the interior and decor of the pad that you buy. This way, you can possibly break the ceiling price of a street and enjoy living in a great area at the same time.


When renting and moving to a homeowner, the chances are that you will be the first time buyer at the bottom of the property chain. This can mean that you are reliant on people further up to stick to a timescale. If you do find that your rental contract ends before you pick up the keys to your first home, you might be worried about your belongings. Consider renting a storage space for a short time to keep your items safe. If you already have a sofa or some furniture that you want to take with you to your first pad, get them in a secure unit and sofa surf for a week or two before you pick up your keys. You can then hire a removals firm to shift your stuff from your unit to your home.



You want to find the best home loan for your situation. The bigger the deposit that you have, the more favorable the rate of your home loan. Mortgages require a minimum of a ten per cent deposit. However, if you have a twenty or thirty per cent deposit, the amount of interest you pay won’t be as high. Shop around and consider seeking the advice of a broker who often has access to better deals. You need to show off your borrowing credentials so ensure that you don’t head into your overdraft, you manage any credit card debt appropriately, and you spend well within your means.

Buying your first home should be an exciting time in your life. Follow this guide and make a successful transition from seasoned renter to first-time homeowner.


Eric is the creator of At Home in the Future and has been a passionate fan of the future since he was seven. He's a web developer by trade, and serves as the Director of Communication and Technology for a large church in Nashville, TN (where he and his family are building a high tech home in the woods).