4 Ways to Better Afford the Home of Your Dreams
Home of Your Dreams
If you are preparing to shop for your forever home, there are several things you can do to afford the home of your dreams.
You don’t need to go out on a limb financially for a hefty down payment and years of sky-high mortgage payments.
Use strategies like the following to buy the home of your dreams you want.
Prime Your Current Home to Sell
With a modest investment of time and money, you can enhance your current residence for a better selling price.
Clean up the yard, power wash the house, paint interior walls, and remove clutter to give your home a fresh new look.
Add colorful accents like area rugs, toss pillows, and bathroom towels for an added spark.
Consider staging your home when it goes on the market to attract high purchase offers.
Save Subsidiary Income
Rebates, discounts, tax refunds, and holiday cash gifts are common sources of unexpected revenue.
Put all incoming money from sources like these in savings toward the down payment on your new home.
Review your utility bills and homeowner’s insurance policy to see if you can reduce those costs and add the savings to your new home fund.
Avoid unnecessary driving and switch to cash-only purchases to reduce spending. Include these savings each month to your future home’s down payment.
Get a Second Job
Look for temporary work that can quickly pump up your savings as you get ready to buy your dream home.
Landscaping, house painting, writing ads, or reselling thrift store buys online are some of the ways you can increase your income at your convenience without necessarily committing to a regular schedule with an employer.
Do work you enjoy to make the effort more meaningful. Advertise via social media or in the community newspaper to keep your second job local and low-key.
Look for Great Deals
Scout luxury homes for sale in the areas where you would like to live. Check out the comparative home sales for an idea of the average cost of the home you want.
Consider buying one priced more cheaply that needs some work done. You can either make the repairs and improvements yourself or hire the work done as you settle into your new budget.
Don’t hesitate to offer less than the asking price, as some sellers are eager to move and might accept a lower offer especially from buyers who are pre-qualified with a lender.
Buy the home of your dreams sooner than later by taking steps like these. Before you know it, you could be living in the home you have always wanted.
Category: Housing
