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Saving up for your home

I have to say this. Make sure to save up for your home. You do not know how many people I see daily that want to purchase a home and they have not done there work and been saving up for their home. So I am going to give you some steps in this blog so when you go in to meet your real estate agent you know what to expect.

1. Decide how much time you want to spend before you get your home.

You have to decide on a time frame if you do not there will be no jumping off point and there for your "due by date". The next step is closely related to this one.

Decide how much home you can buy.

You need to know how much home you can afford. Most people that have not done this come in and want to look at the 1.5 million homes when all they can afford is 350,000. I do not want to disappoint anybody but I will have to if you do not find out how much home you can purchase.

Plan you budget out

Plan your budget out otherwise it will be spent on items like vacation or other items you can do without. Remember you are making an investment. Treat it as such.

Your tax refund... Save it!

When you come into some unexpected money put it aside. It will help you get there faster if you do.

Do not sabotage your emergency fund

Matter of fact have this before you start saving for your home. If you car breaks down or have to go to the hospital or any other unforeseen situations you need to have a back up.

Think about the resale and the long term

What is going to happen in the future? Are your parents getting old and need to live with you? Are you planning on having kids and if that is the case what about the school district? This being said all these items will help you stay in your home for the long term and also help you when you want to sell it again.

Look at the homeowner association before the purchase

Having a good homeowner association can make the difference between a great time in you community and a bad time. So ask to look at the contract before looking at the home so you know what you are getting into. Before hand.

Research all forms of funding

Make sure to look at different types of funding. It can really help from first time home owners to those that are going through a divorce. There are many types of "help" out there for everybody.

What about the area?

If you like the home research the area. Are all the homes around you rentals? Is the crime rate high? Are there a lot of child molesters in the area. All of these items should help you decide if you need to buy the home or not. So make sure to research the area.


The last thing is probably the most important item. You need to save for a down payment of 20% so do not even start looking till you get this amount. When you are close that is the time to start trying to find you home.