There are stories of people making small changes in order to save money. And then there are others that go ‘all out’ in a drive to get there quicker. The numbers saved can be quite surprising.

We recently came across a tenant (Joshua) who had taken saving for his own home to a whole new level. He sold his car to reduce the cost of personal ownership. Joshua had worked out that by using public transport and taxis (only when necessary) he could make a substantial saving. By taking on voluntary work at the weekend he could also ensure he was too busy to ‘party’. He went on to cancel his gym membership and decided not to join the annual ‘lads’ holiday. He also switched to doing all of his food shopping at discounted supermarkets. Whilst this made for a less than perfect lifestyle the savings were greater than he had originally expected.

Substantial savings

Joshua calculated that by making all of these changes he could save as much as £9,000 a year – no small sum. By his own calculations it would take just three years to save enough for both a deposit and the legal fees to buy his own property. And if his work prospects improved this could be reduced to just two and half years. As we talked, he was even thinking of taking on a part-time evening job to supplement his income. All to help build his savings quicker.

We have also heard stories of people providing a useful service or skill for free in return for receiving the same service free. One example was another of our tenants helping a local gym class instructor. By helping to set up and pack away equipment they received free access to the class.

Other money saving examples include using car share websites.

So desperate is the need for young people to own their own home today that it can become an all consuming target. To buy our own home is still seen as a major step. This is often seen to prove to the World that we are entering adulthood and that we should be taken seriously. Small wonder that we all aspire to own our own home.

The Shared Living & HMO market

Developers have in recent years cottoned on to a growing market for young people wanting a smart shared living space. These properties are typically constructed as a five or six bedroom House in Multiple Occupation (HMO). A HMO property can also provide an instant group of new friends for young people moving to a new City.

At Capitum we see people choose shared living in professional house shares for many different reasons. Top of the list is the affordability our service provides by including all utilities within the rent. These include gas, electricity, water, Council Tax, ultra-fast broadband, communal cleaners and gardeners! You can find out more about us here.

Capitum’s service helps to ensure that there are no nasty surprises at the end of the month. Rather than worry about bills our tenants simply pay their rent and leave the worrying to us. Shared living has in short made life easier for many today.

To find out more about how we provide the best in shared living contact us on 0115 740 1800.

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And what better way to demonstrate this success than with the launch of a new company website. This new site has been created to showcase both Capitum’s work to date and to demonstrate our commitment to working to the highest standards.

Shared houses backdrop

“The UK is witnessing significant changes in the way the Government treats landlords. Whilst Buy to Let played a supporting role in the housing market during 1996 – 2015 there can be no doubt there has been a sea change in sentiment. UK landlords now face a new minimum 3% Stamp Duty tax on second homes. Together with the introduction of Mortgage Interest Relief restrictions coming into place on 06 April 2017 this makes it more important than ever to put new plans in place. These include the possibility of restructuring existing property portfolios and having the right structures ready for new purchases. ”
Garry Slater, Managing Director

About Capitum

Capitum Investments is a forward thinking developer of shared houses for working people. Our properties range from a typical 5 or six bedroom house right up to our flagship 32 bedroom ‘Super-Sized’ HMO in the heart of West Bridgford. We also joint venture with landlords looking for a Guaranteed Rent solution.

The business was established in 2015 to meet the needs of many young people typically struggling to buy their own home. Today tenants choose rooms in our properties for many different reasons. These include relocating to Nottingham for work or looking for a more affordable and convenient ‘all-inclusive’ rent.

You can view our latest house shares here.

Are you a house share landlord who feels now is the time to review your property strategy? If so, please get in touch with us on 0115 740 1800. We would be delighted to hear from you.

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