23 Jun 2016
There’s nothing nicer than finding €20 in your wallet’s secret compartment or the back of your handbag. It may be your money but it still feels like free cash if you didn’t know it was there.
The offer is open to first time buyers, movers or anyone switching their mortgage to EBS. It’s an expensive time so a cash reserve for hidden surprises, cost over-runs or just plain decorating can make all the difference when you get the keys to your new house.
So how should you spend this new-found money? Well, here are a few ideas to get you started.
1. Set up a rainy day fund
As Roy Keane said, “Fail to prepare, prepare to fail.” This may seem like a boring option but you’ll appreciate having an emergency fund if you ever need it. One thing about owning your own place is that you suddenly become responsible if anything goes wrong. There’s no landlord to send a plumber or replace the washing machine.
Having a rainy day fund prepares you for the surprises that won’t be covered by your home insurance. Nobody wants to think about replacing your boiler for example (it can cost up to €5,000) but stuff happens. But at least a rainy day fund takes the financial sting out of a potential disaster.
2. Get your house’s BER up to speed
Making some wise investments when you first move in can save you a lot of money in the long run. Making your house more energy efficient can reduce your fuel bills and make your house warmer and cosier.
Adding a back burner on your fire, insulating the walls of your house or changing those single-pane windows can all make a significant difference. If you want to push the boat out, you could even investigate solar power options. These investments can help save the planet and save you money in one fell swoop. That’s not a bad day’s work!
The Sustainable Energy Authority of Ireland (SEAI) offers grants for home improvements that cover things like wall insulation, boiler upgrades and solar panel installation so check out their website to see if you qualify. The Home Renovation
Incentive (HRI) grants were also extended to December 2016 so it could be another option. These schemes could make it even cheaper to do your bit for the environment.
3. Get your new place furnished
Anyone who’s ever rented a house knows what it’s like to have furniture you don’t like. Maybe it was a lumpy bed or a couch that felt like a medieval torture machine. The days of being subject to your landlord’s furnishing choices are now over.
Buying furniture is a chance to impose your own style and taste on your new house. Many buyers settle for a few key pieces and get the rest as their budget allows. With a spare €5,000 you can fit out your living room, buy new beds and even throw in your dining table and chairs.
Whether you fancy a shopping spree at IKEA or plan to raid the local market for vintage gear, EBS’ 2% Back in Cash offer means you no longer have to wait to make your home your own.
4. Do up the garden
Having a garden gives your new home extra space to entertain people (if the Irish weather ever lets you enjoy it). Organising your garden is not normally a priority when you move to a new place but having a chunk of cash to spend makes a big difference.
You might want to lay down some decking or do a bit of landscaping. Or maybe you’ve always fancied having a pond stocked with Koi Carp. Budget €1,000 for your average deck (less if you can do it yourself), or €1,500 for a general garden tidy up. That dream of having your own bouncy castle could even become a reality, despite the best advice of all your friends.
5. Get yourself an entertainment system
This Back in Cash offer could help you turn your home into a shrine to entertainment. If you’re someone who loves your music or you’re mad about films, this is a great chance to get your new place wired for sound and vision. You can choose your budget but €2,000 would get you a quality home theatre set-up or the turntable and sound system of your dreams. Then you can get your mates around to admire your new set-up (If you can’t humble-brag to friends then what’s the point!).
6. Be alarmed (in a good way)
You’ve just invested a lot of money in your new home so naturally you want it to feel comfortable and safe. One way to do that is to make sure it’s secured and protected for when you’re there and when you’re away.
It makes sense to change the locks when you move in but the EBS 2% Back in Cash offer means you can get the best alarm and security system for your new place. Peace of mind is priceless and investing in your home security is an obvious way to make good use of the money.
7. Renovate, decorate and revamp
It’s probably a bit optimistic to think that there’ll be no renovations required if you’ve just splashed out on a new home. You may have some minor fixes to do or a few jobs that you’d planned to put on the long finger.
It could be a case of getting the chimney fixed up, sanding those
floorboards or giving every room a fresh coat of paint. Not everyone
wants to live in a house with a purple hallway! Now you can get
started sooner than you thought.
Want to know more about our 2% Back in Cash mortgage offer?
The new EBS Back in Cash offer gives you 2% of the value of your mortgage Back in Cash if you’re a first time buyer, mover, or switching your mortgage to EBS.
The content of this blog is expressed in broad terms and is limited to general information purposes only. Readers should always seek professional advice to address issues arising in specific contexts and not seek to rely on the information in this blog which does not constitute any form of advice or recommendation by EBS d.a.c.
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