We met in our 625-square foot apartment just one week after Michael and me returned from our honeymoon. That was when we decided that it was time for us to save money for a house. Hugo, our beloved doberman, was brought home by us.
We knew it was time to move. Hugo was running around in the living room, Michael was taking control of the bathroom, and I was lost without a place to hide.
We started to save money. It was really about save money for a house in 6 months, we had enough money saved to purchase a house.
That's a very quick turnaround time. Here's how it happened. Michael and I once fought over a $3 margarita. He replied, "Heck yes," but I didn't get the margarita, but I do have a house.
1. Although it seems extreme, this example is crucial. Do I really need to have this or that? It's unlikely. One penny saved is one penny earned. We cut our cable and never looked back. The idea was not just to earn money, but to save money for the long run.
2. Your credit score is important. Most likely, you will apply for a mortgage. Make sure your credit score is in order. It will be more trouble later than it is now. save money fast
3. Only buy what you can afford. The amount we received from the bank was three times the price range that we wanted to purchase. TWICE. This doesn't mean that we shouldn't look at houses in this price range. Keep within your budget. We did it!
4. Don't keep stuff that you don't use. To make some extra money, I sold items on eBay. Michael sold parts of my car on Craigslist. From the expensive dress you never had time to wear to the lawnmower that died ages ago. It's important to stress that every penny counts.
5. Avoid eating out. This is where Michael and I tend to indulge in frivolous spending. We don't want to sacrifice vacations so we decided to stop eating out. We would eat together before we met up at the restaurant. It was a small meal that allowed us to have fun and still have fun. This is also healthier. Look at your finances to see where you are spending the most. Then, cut back.
6. Learn how the process works. Buying a home is no easy feat, that's why Capital One Home Loans Online Neighborhood is a wonderful resource to learn all about home buying. You will find helpful videos and articles that are easy to understand. The stages of the home-buying process can be viewed and you can decide if now is the right time. The learning center is a great resource for first-time homebuyers.
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