4 Tips for Saving Money for Your 1st home!

4 Tips for Saving Money for your 1st Home

Saving money is never easy. When you’re hoping to purchase your first home, saving is a necessity!

Try these cost-saving tips and soon you’ll have a nest egg to put toward your new
place.

1. Make a budget and stick to it. Consumer.gov has tips for making a budget. Create your budget and then commit to sticking to it (knowing that hard work will pay off when you find that beautiful home to call your own)! Be sure to track what you spend. And make sure to avoid any unnecessary spending – this is not the time to be buying a new car or making any similar large purchase.

2. Talk to a lender about what you can afford. I know it’s exciting to go out looking at homes. But before doing so, you owe it to yourself to speak to a lender. Your lender will ask about your income and expenses and, within about 10 minutes, will be able to calculate what you can afford. Your lender can also help lay out all expenses associated with purchasing a home (i.e., not just the mortgage). These expenses include: homeowner’s insurance, taxes and utilities, among other things. Finally, you need a lender to be pre-qualified. Prequalification is something virtually every seller requires before an offer will be considered. (I know of several terrific lenders. Call or text me for their names and contact info.)

3. Start to save as soon as possible. It’s never too soon to tighten your belt. Remember, you’re saving for the most expensive purchase of your life so the sacrifice is well worth the effort. Choose to cook instead of going out to eat. Watch movies on Netflix instead of going to the theater. Even saving $100+/week can add up quickly.

4. Create a separate savings account for your deposit. If your paycheck is direct deposited, you may want to look into having a portion of it automatically deposited into a separate savings account, earmarked for your deposit and related home buying expenses. Having a separate account serves as an additional reminder not to touch it.

For more information or assistance Contact Ruthie Grainger-Starr at 719-648-2288

Ruthie Grainger-Starr - providing AWESOME real estate adventures in Pikes Peak!

Comments

April 2019 CCV Market Update

Home Prices in Cripple Creek & Victor CO for April 2019 Real estate market data for Cripple Creek Victor CO provided by Ruth Grainger-Starr of Grainger Realy LLC, CC-V Home Prices We have seen prices increase for the month of April on home prices in Cripple Creek & Victor while inventory decreased. If you are considering buying or selling a home in Cripple Creek or Victor area having a good real estate agent who understands the market is a must. If you are interested in how much current inventory is on the market in the CC-V area you can find that information by clicking on the link. Low inventory will suggest that homes are selling quicker as buyers have little to choose from. Currently in this area, homes have a median time of 61 days on the market before they sell. Sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers...

Fall and Winter Events in Southern Teller County

Colder weather is here but there is still plenty to do! Check out some of the events happening in Cripple Creek and Victor from plays that are all Olio, to community Thanksgiving Dinners, Lighting of the mine head frames to Ice skating and hockey games. Winter is just as active in the CC-V district as Summer is. Come out and visit us and enjoy your fall and winter! Check out these links for more information Cripple Creek events Victor Events

Making the Most of a Modest Space

While some people who are selling their home think a small kitchen is a negative, there are several ways that you can make it stand out and appeal to potential buyers: Light it up. Darkness can often make smaller rooms feel even more cramped. To open the room up to more light, consider removing all curtains from windows and instead install recessed blinds. You still get the privacy factor, while also allowing your kitchen to have a brighter feel. Keep the counters tidy. Many people have things strewn about their kitchen counters and cabinets. Think about keeping your counter tops clear of all items, including photos, papers and even appliances, to make it seem like the room is larger than it truly is. Brighten the walls. Sellers should consider making the tone of the wall color in the kitchen brighter. Lighter colors tend to open up a room. They are also much more inviting, enticing potential buyers. Mounted appliances. Sellers may want to consider mounti...

Ruthie's Corner

Search This Blog