Crazy image visualises how high a house deposit in Birmingham would be in pound coins
In case you ever wanted to visualise how much money you're spending
Last updated 11th Jan 2022
A bizarre new image visualises the height of an average house deposit in Birmingham in pound coins when compared to the size of the city's BT Tower, because why not?
In the past few years, house prices have continuously risen, making it harder for Brits to tie down their favourite homes.
For people in Birmingham, house deposits on average are £35,000 pounds, and the image below is a rather brilliant visualisation of just how much money that is.
The research and graphic comes from property buyers GoodMove, who calculated that almost half (47%) of Brits find it impossible to save for a deposit on their own.
It shows that the average house deposit in Birmingham - £35,000 - equates to a massive 98 meters worth of pound coins.
To put it in other words, with a single pound coin measuring 2.8mm in height when flat - that's a LOT of coins stacked on top of each other.
In fact, it measures 92m less in height than Birmingham's BT Tower, which stands at 190m tall.
What are the top tips for buying a property?
Though it's daunting to think that the amount of coins needed to put down a deposit in Birmingham is more than half the height of the BT Tower, GoodMove director Ross Counsell has some helpful tips:
- Be prepared: Before you look to buy, research the area and any particular streets you’d be interested in living in and visit them before going on a viewing to get a feel for the area. Look at new listings in the area daily and know what it is you’re looking for so when you see one that fits, you can jump on it straight away
- Arrange your mortgage beforehand: Before putting an offer on a home you like, get a mortgage-in-principle. This is a confirmation stating how much your lender is prepared to lend you to buy a property and shows sellers that you are a serious buyer with the necessary finances to buy their property and helps speed up the buying process.
- Look for properties under your budget: I’d recommend looking for properties under your budget. If you like the property so much as to put an offer in, then you can go in with a higher offer that will stand you in good stead over other people looking to buy. You’ll likely save yourself a lot of money in the process and be a frontrunner for the sale.
- Be flexible: Being flexible and an easy person to work with is paramount in buying a home. It’s important to make a seller’s life easier for them, so consider doing things like letting them pick the closing date if you can afford to do so. If you are in a property chain this will be harder to do but is a great piece of advice for first-time buyers.