09/08/2022
The idea for saving thousands upon thousands of dollars for a down payment can make you feel like you might never be able to buy a home..
BUT it doesn't have to be so intimidating or scary! Speaking with a lender is an excellent starting point to understand where you are financially and the different mortgage loans / financing programs that could best work for you !!
On top of that, here are 6 ways to make saving for that goal of homeownership EASY:
1. Automate Savings- you can automatically deduct a percentage of your paycheck into a savings account so you won't be tempted to spend it.
2. Get a side gig- Everyone has skills they can capitalize on. Consider picking up a few extra hours of work a week and putting the results towards your down payment goal.
3. Live frugally for a year- Make a strict budget, cut out all the fluffy spending and stick to it. At the end of the year, you'll have end up with a nice little nest egg.
4. Save your bonuses and tax refunds.
5. Plan a staycation - Vacations can eat up thousands of dollars every year. Instead plan a retreat closer to home and save what you would have spent.
6. Try a spending freeze- If you're a hardcore go-getter, try cutting out ALL unnecessary spending for a certain amount of time.
Emily Schiller, REALTOR
Long and Foster Real Estate
📱484-347-9149
📧[email protected]
