Saving money is never easy. When you’re hoping to purchase your first home, saving is a necessity!
Try these cost-saving tips and soon you’ll have a nest egg to put toward your new place.
1.Make a budget and stick to it. Consumer.gov has tips for making a budget. Create your budget and then commit to sticking to it (knowing that hard work will pay off when you find that beautiful home to call your own)! Be sure to track what you spend. And make sure to avoid any unnecessary spending – this is not the time to be buying a new car or making any similar large purchase.
2.Talk to a lender about what you can afford. I know it’s exciting to go out looking at homes. But before doing so, you owe it to yourself to speak to a lender. Your lender will ask about your income and expenses and, within about 10 minutes, will be able to calculate what you can afford. Your lender can also help lay out all expenses associated with purchasing a home (i.e., not just the mortgage). These expenses include: homeowner’s insurance, taxes and utilities, among other things. Finally, you need a lender to be pre-qualified. Prequalification is something virtually every seller requires before an offer will be considered. (I know of several terrific lenders. Call or text me for their names and contact info.)
3.Start to save as soon as possible.It’s never too soon to tighten your belt. Remember, you’re saving for the most expensive purchase of your life so the sacrifice is well worth the effort. Choose to cook instead of going out to eat. Watch movies on Netflix instead of going to the theater. Even saving $100+/week can add up quickly.
4.Create a separate savings account for your deposit.If your paycheck is direct deposited, you may want to look into having a portion of it automatically deposited into a separate savings account, earmarked for your deposit and related homebuying expenses. Having a separate account serves as an additional reminder not to touch it.
Author:Lauren Rockwell Phone: 214-717-1636 Dated: March 25th 2018 Views: 440 About Lauren: Hi, I am Lauren and I am a real estate agent with Rogers Healy and Associates. I grew up in the DFW ...
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Steve Rigely was born and raised in San Antonio, Texas. He moved to Dallas in 1998 to attend Texas Christian University. He graduated from TCU with a BA in History and a minor in Business.
Steve’s passion for helping people and his business savvy helped guide him to residential real estate in 2003.
“Real estate just felt right. After connecting all the dots, I knew that my career was in residential real estate. I loved the idea that I don’t have any limitations and every day is different than the last.”
Since starting his career, Steve has worked to build lasting relationships with his clients and prides himself in being resourceful in today’s evolving economy. Steve strives to treat each of his clients with the same consideration and revere.
Being able to see Dallas transform has been quite the experience for Steve. Being one of Victory Park’s first residents has given Steve a great platform when it comes time to try to win a potential client’s business.
“I’ve been fortunate to have lived in some of Dallas’ most unique neighborhoods. Uptown and Victory Park have been my home for quite a while now and I am still in amazement at the amount of growth and business opportunity that has been created in just a few short years. I have loved being in the heart of the action.”
Steve took his career to the next level when he joined Rogers Healy and Associates in 2009. Whether you are buying, selling, investing, or just need advice, Steve looks forward to working for you.