If your resolution in 2017 is to take the big step towards home ownership, it’s time to start saving up! While a down payment to buy a house may seem like a gigantic sum of money, making a few sacrifices in the present will really pay off when you begin the house hunting process. With offices in Pittsfield and Epsom, NH, EXIT Reward Realty has helped prospective buyers navigate the complexities of the real estate process and find the perfect home.
They’re here to share three ways you can start saving money to buy a house in 2017:
- Set a Target Goal: Before you begin saving, you should make an appointment with a mortgage lender who can help you determine the price range of the home you can afford. Once you have that information, you can calculate an estimated percentage that would need to be paid upfront. This number will be your target savings goal.
- Establish a Budget: It’s important to know how much you can afford to save each month. Remember that right now you may need to sacrifice unnecessary luxuries to reap the benefits down the road. You can cut back on costs by going out less and cooking your meals at home.
- Open Up a Savings Account: You will need to set aside money in a savings account reserved only for the down payment. If you’d rather not have to deal with moving the funds yourself, you can open up an automated account that will pull a specific percentage or fixed amount from your paycheck to be directly deposited in your savings.
If you’re ready to start the search to buy a house, the real estate agents at EXIT Reward Realty are here to help. Call (603) 435-7800 to set up an appointment, or visit their website to browse listings and learn more information.