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Sunday, March 18, 2018

Down Payment Holding You Back?

Save for a Down Payment Faster Than You Think!

All good things are worth saving for! It becomes a matter of determination and sacrifice. It is not really that much of a hardship to make some sacrifices knowing what is waiting for you at the other end. I suppose we could say that about many things in life’s journey.

Back to getting your own home – skipping some unnecessary expenditures or reducing the amount of money spent can make a huge difference. Perhaps begin with a first look at total income. Then make a budget and set a goal. Maybe consider an extra part time job or overtime hours. Small amounts of money can quickly add up!

Another way to go – and we have written about this previously – if you are a couple, some skip the big expensive wedding (and that can get you a huge jump-start). Others go for a lower profile wedding. Alternatively, they might skip the honeymoon for the time being and do that later (exactly what one of my cousins did – and they “married” again (retook their vows) and then went on a honeymoon).

You need how much? Explore the options! Talk with professionals. You may not need as much money down as you think. The sooner you buy and become an owner, the sooner your life changes!


Use Your Refund to Jump Start Your Down Payment Savings!

Another way to get a jump on the down payment for your own home is to not spend that income tax refund. Forget the onetime splurge. Add the refund to your down payment fund and get that much closer to owning your own home!

Begin to increase your wealth – with a home of your own.