We first want to congratulate you on starting the process of purchasing your first home. That is SO exciting and such a big step in your life. It can feel overwhelming when trying to save up for a down payment. Luckily, we have you covered. Keep reading to find out our favorite tips for saving for your first home.

Budget

Preparing a budget and sticking to it is crucial. Look at exactly how much money your household is bringing in. Then look at the essential costs you have every single month. Have a goal at the beginning of every month. You can ensure you are staying on track by checking your bank account every few days.

Renting

Let’s face it, renting can be such a huge chunk of your paycheck. One easy way to save your money is to rent out a room in your home. Whether it is to a friend or family member, this could mean $500 extra dollars every single month. That means that you are saving $6000 per year. This is one of the quickest ways. Although you may not like the sound of it, if you can do it for a year or two you will have your first home in no time.

Deals

Hey, there’s no shame in coupon cutting. So. grab your scissors and check out this week’s deals. You can also find some online. If you have something like a phone bill and a cable bill with different companies, try and bundle your plan. This can also save you lots.

Basics

We know, you do have so many mandatory costs every single month. Which are not mandatory though? Could you skip going to the movies and instead rent a movie and make popcorn yourself? Little expenses add up.

We love helping people find their first home. If you are ready to get started, we are here to assist you!