One of the biggest obstacles I face every day as a real estate broker is potential buyers with excellent credit that do not have available cash for a down payment.
And while there are some opportunities for loans with little down, they are few and far between and some are property dependent which limits the available selection of homes.
However, setting money aside for a down payment may not be as hard as you might think. Saving money has long been associated with austerity but in fact there are ways to save with little or no change in lifestyle.
Sometimes it only takes a phone call to achieve dramatic savings results. Technology, security and cable services are often very negotiable, and you might be surprised at how much you can save.
A call to your insurance agent and some policy tweaking can save hundreds of dollars per year. It is always wise to have your coverage reviewed on a regular basis!
When was the last time that you visited your local library? You might be surprised at how much libraries have adapted to the times. Why buy when you can borrow?
Try visiting State Parks instead of theme parks. You can literally save thousands of vacation dollars by utilizing public facilities instead of private ones. And you might just learn something in the process!
There are hundreds of ways to save if you are really committed to the endeavor. Most families could save enough for an FHA down payment in less than a year.
The key is to get started and just do it!
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Good morning Richard,
Excellent advice! There are thousands of ways to save..here and there..it all adds up!
Richard - good post! I made a list of free recreation a year or two ago, to remind myself how much we don't have to spend, and I've always been a fan of the library.
I would like to add: stop wasteing. I see garbage cans overflowing on trash day. If we all stopped consuming for a day, imagine what that would save.
Richard, excellent advice! Cutting back on eating out can save a bundle.
That is an amazing photo Richard, congratulations for being in the right place at the right time.
Good advice for all of us. .
Richard leave to you to make wise suggestions, I just go a new library card last week and love the magazines plus it is not as crowded as BArnes and Nobles
Richard, these are great tips. Saving money is not that hard...An examination of those monthly bills that are on autopilot are a great place to start.
These little things can add up to big savings. My husband just switched our land line phone and rolled it into our cable provider - an $80 per month saving!
We all can cut corners. Debbie and I sat down the first of the year and cut the "junk stuff" out and actually after a couple weeks we didn't even miss the stuff we cut.
Hi Richard, These are great tips for saving money - especially when working towards a down payment and making the dream of home ownership come true!
I have a client that quit his latte's in the morning, made his own coffee and saved nealy $100 month just on this. Itjust takes a bit of common sense to see wheere we can save and we can if we really want to.