Down Payment Funds

When it comes to saving for a down payment it seems like a daunting task if you have not been saving since your first paycheck. Don’t get discouraged – there are still changes you can make, it just takes some dedication and discipline depending on your time frame!

If you are by yourself, or a young couple with no kids – why not downsize now? Move from that two or three bedroom apartment to a one bedroom apartment? Save the difference monthly in an interest baring account. This will also cut down on your monthly expenses to add to the savings.

Get a second job. No one likes to hear that, but why not choose a job related to one of your hobbies? That way the extra time you are spending away from the house is enjoyable and not miserable, otherwise it isn’t worth it. Don’t sacrifice your sanity for this.

Sell those items you no longer need. You bought a treadmill that is holding clothes that need to be ironed. You have golf clubs that have not seen a golf ball since you had the idea to start! These are all things that may not seem like a lot, but as you get rid of them and add them to that savings account – they can make a difference!

Other simple tricks – eat at home, bring your lunch, carpool, or go to the library. Everything you do adds up and can lead you to the house of your dreams!