Want to know how to save money for the house? From saving your bills to using a government program to help first-time homebuyers climb the property ladder, we explored simple ways to save money on buying a home.

Saving enough money to own your own house seems daunting. The cost of living continues to rise, and higher housing prices make it more difficult to buy a house-according to the National Bureau of Statistics of the United Kingdom, housing prices in the UK have risen by 10.6% in the past year. But don't despair-this is not an impossible dream.

The first step in buying a house is to set some goals. What type of real estate is your goal and where do you want to buy? How much mortgage can you afford each month, and how much will this enable you to borrow (many online mortgage calculators can help you solve this problem)? What is the down payment of 5% to 10% of your target property price?

The latter figure plus some additional home purchase costs is your savings goal. Using our tips, you can work towards your goals. Saving money for a house is a marathon, not a sprint-there will be sacrifices along the way-but discipline is required to keep the prize in sight.

Paul Wilson, Cash Lady’s personal finance expert, suggested: “Create a long-term order and transfer money to a savings account on the payday of each month. This way, the money will be withdrawn from your current account and you are less likely to use it. it.

Image source: Future PLC/ Lizzie Orme

Over time, small changes made to your daily expenses will indeed accumulate. “For example, spending £3 on sandwiches purchased in the store every day from Monday to Friday is equivalent to £780 per year,” said Paul Wheatcroft, Account Director of My Local Mortgage. Make a sandwich at home every morning and you will save most of your money.

Look at your monthly spending habits. Write down your monthly income and expenses. Then determine the area you can reduce. Try to drink coffee from a thermos at home instead of buying a cup every morning on the way to the office. Or limit yourself to one night in a month instead of every weekend.

"Applying for a mortgage is the ideal time to sort out your financial situation," said Heather Owen, Quilter's financial planning expert. 'By paying off any debts or renegotiating bills and contracts, you have the opportunity to help increase the money you can borrow. It may not help much, but every bit will help," she said.

If your landlord allows it, try changing your energy supplier. In addition, shop around for cheaper mobile phone and broadband packages, and cancel unnecessary subscriptions that you don’t use, such as TV and music streaming services, gyms, and clubs.

A good way to keep your income and spending habits is to use a budget app. Each application is different, but they all help you manage your funds by synchronizing with your bank and credit card accounts to help you keep track of your expenses.

Paul Wilson recommends using Emma on a budget. "It will automatically track and categorize expenses across accounts," he said.

Although not everyone’s choice, if you can live with your parents, you can save a lot of money every month, which in turn will help you reach your savings goals faster and start moving lists. According to Zoopla, the current average monthly rent in the UK is 790 pounds and in London is 943 pounds, which is equivalent to 9,480 pounds and 11,316 pounds per year, respectively.

More importantly, your spending on bills, food and beverage costs may also be reduced.

If you cannot live with your family, consider finding a tenant (if the landlord allows it), renting a house in a cheaper area, or moving into a shared apartment.

There are countless ways to increase your monthly income. Weekend bar work, babysitting and gardening, as well as organizing your belongings and selling things you don’t need on Facebook Marketplace or eBay are just some of the ways you can make more money to help pay the house deposit.

Remember, you need to file a self-assessment tax return and pay income tax on any additional income you earn. The government website provides a "Check Additional Income Tax" section, which contains more information and guidance on this.

If you are a first-time home buyer between the ages of 18 and 39, you are eligible to open a lifetime ISA account. "You can pay up to £4,000 to your account each tax year," explained Brian Murphy, the Loan Director of the Mortgage Advisory Bureau. "Then the government will increase the bonus by 25% (up to £1,000)."

The cash must remain in the account until you redeem your first property. Remember, the £4,000 ISA limit counts into your annual ISA limit, which is £20,000 for the 2021-2022 tax year. In addition, you can only make payments to your lifetime ISA account before the age of 50.

Image source: Future PLC/ Dominic Blackmore

If you are worried about how to save money for your house, sharing the cost of buying a house with friends or family can make the process of buying a house more affordable and reduce the cost of living after moving.

There are many legal factors to consider, such as whether to take a joint mortgage or own the property as a joint tenant or joint tenant, so please seek professional advice. Think about the nature of your friendship with your mutual buyer-are they suitable candidates for one of the biggest investments in your life?

According to the analysis of the real estate group Savills, nearly half of the first-time homebuyer transactions this year were funded by the parent bank. If you are lucky enough to have parents or other relatives or family friends who can help financially, this is a good way to climb the housing ladder.

"Both the buyer and family members must sign a gift deposit letter or gift deed to confirm that the money does not need to be repaid," Brian said. "The person providing the gift may also need to provide a bank statement as proof of the source of funds."

You can also use this extra money to fund your lawyer's fees to buy a house, because this is an extra cost in addition to the deposit.

Shared ownership gives first-time homebuyers the opportunity to purchase part of the house while paying the rent for the rest. It is usually cheaper than renting an equivalent property. You also only need a small part of the deposit that is usually paid on the open market, because you only need to pay the deposit for the share of the property you own.

The amount required for the deposit varies from development project, but is usually between 5% and 10%. Therefore, if you buy a 25% share in a property worth £300,000, your share is worth £75,000 and the 5% deposit is £3,750.

If you are a first-time home buyer in England, you can apply for help with the purchase: an equity loan provided by the government, you can use it for purchases worth between £186,100 and £600,000 (the amount depends on where you buy in England).

The plan starts this year and will last until 2023. The amount you can borrow is at least 5% to 20% of the cost of a new house, or 40% if you are buying in London. You don't have to pay loan interest in the first five years. Buyers must pay a 5% cash deposit and arrange a mortgage for the remaining selling price.