Saving for a Down Payment? Here's How to Avoid Overspending via @homebidz

Saving for a Down Payment? Here’s How to Avoid Overspending

Cutting Back And Saving For A Down Payment

One of the biggest concerns that first time home buyers have is being able to make a sizeable down payment on a home. In order to do that, a large amount of saving is necessary. Here are some tips to start saving for a down payment and cut the lifetime of your mortgage.

Cut Back on Travel

If you take a lot of trips and vacations, for fun, throughout each year, it may be time to take a break. Airline tickets alone are expensive, but when you add in hotels and restaurant charges, you are looking at a very pricey bill. You can literally save hundreds, maybe even thousands of dollars doing this.

Get More Work

It might also be time to think about getting a second job. Remember that this is different from having your regular job. You should make sure that you have a secure job in order to afford monthly mortgage payments. The second job will only be for saving up for your down payment.

Pay off Your Debts First

Another way that you can make sure you save is by looking into debts. If you owe any credit card debt, it is okay to take some time to pay this off first. Start with the one that has the highest interest rate. Paying this off as soon as possible will save tons of money from the #interest alone.

Raise Money Online

Considering this is the digital age, you can also start to look online for sources of money. You can start a free fund campaign, sell any items that you own, or even make items that you can sell.

Consider a Second Mortgage

If you already have a house that you want to buy, then you can actually speak to the seller about them taking out a second mortgage in order to help out with the costs. This should only be done with the proper attorneys involved.

Latest Posts

The basics of buying an owner financed house via @homebidz

The Basics of Buying An Owner Financed House

Check Out These Listings The dream of owning your own house has existed for decades. Being a real homeowner comes with advantages: happiness, investing, pride are just a couple -- and that is not even referring to the...
Home Buying Resources via @homebidz

Rent to Own Resources & Advice

First Time Home Buyer? Resources & Advice for Rent to Own Home BuyingResearching the options of being a home owner and discovering the right house is a rather exciting time in one's existence. It is crucial...

Cheapest Cities to Live In the U.S. —2017

Check Out These Listings We hear constantly how expensive it is to live in cities like Manhattan or Los Angeles, but we do not often hear about the other end of the spectrum. While it is true that urban areas in the...
Is Considering a Foreclosure A Good Idea? via @homebidzcom

Step By Step: Buying a Foreclosed Home

Click Here to Search Foreclosed Homes Buying a foreclosed home can be a very intimidating process, but do not let that defer you from following through with doing it. Just be sure that you are going about it the...
Tips That May Help Prepare You for Moving Day via @homebidz

Tips That May Help Prepare You for Moving Day

First Time Home Buyers Click Here When moving day finally arrives, you're going to want to be ready. If that day is just around the bend, it's time to get started with your preparations. Here's how you can make sure...

Most Frequently Asked Questions–As Told By a Realtor

First Time Home Buyer? We did our research, we reached out to some of the top realtors, and asked them what they hear most from first time home buyers. This way you have a bit of a guide-- you'll know what is typically...

Inspections: What to Look For

Check Out These Listings We all know that it is suggested to get a home inspection prior to buying a home; so what do you need to look for? Just because a home doesn't have termites, does not mean that it necessarily...

Categories