3 Tips for making your dream of buying a home come true.
Home ownership is a
core component in establishing and living your Dream, homeownership provides
social benefits beyond pure financial and economic benefits. For most people,
the ambition to acquire their own home is their most important goal, surpassing
all others, and it is the primary influence and motivation for how they conduct
their business, financial, and personal lives. Indeed, there’s no place like
home.
Is your dream for next
year to buy a home of your own? Below are helpful tips to start now if you hope
to buy a home.
1.
Automate
your down payment savings: Saving for a down payment is
often one of the biggest barriers to homeownership cited in survey after
survey. One way to jump start your savings is to automate your checking account
to automatically save a small amount of your payback into a separate saving
account or house fund.
Amassing enough for a down payment takes discipline and perseverance, but setting up automatic savings can make it easier. If you never see the cash, you won’t spend it.
2.
Build
your credit history and keep it clean: When you go to apply
for mortgage, lenders will want to see you have been able to pay off past
debts. This means staying on top of your student loans, credits cards and car
loans and paying them on time.
3.
Practice
living on a budget: Downsizing your spending now will
allow you to save more for your down payment and pay down other dept. to improve
your credit score. A recent study showed that 95% of first time buyers were
willing to makes sacrifices to buy their home faster.
* Setting up an
automatic saving plan that saves a small amount of every check is one of the
best ways to save without thinking a lot about it.
* Living within a
budget now will help now save money for downpayment and pay off other debts
that might be holding you back.
Comments
Post a Comment