Ways to Save for a Down Payment on a Home
Tom Ireland • January 10, 2017
If you are hoping to become a homeowner, the first thing you will need to do is put together a down payment. For most people, this means saving up. The post Ways to Save for a Down Payment on a Home appeared first on Andy Schildhorn, PREC.
If you are hoping to become a homeowner, the first thing you will need to do is put together a down payment. For most people, this means saving up. Here are some things to think about that should help you save for a real estate down payment.
- Stay focused – While many people start strong with their, after a while, other temptations start to creep in. It’s important to keep the down payment as your top priority and resist spending on other things.
- Make it automatic – Set up a new account for your savings and create automatic deposits each month from your paycheque into the savings account.
- Make it fun – Create little savings challenges that will make it feel like a game. Create a competition between you and your partner to see who can save the most on things like car insurance or internet bills.
- Add any extra cash to the down payment fund – Rather than using unexpected cash (such as from birthdays or tax rebates) to treat yourself, put it into the savings fund.
- Supplement your income – You could do some extra freelance work or sell unwanted items on Craiglist/eBay.
For more tips on saving for a down payment, click here. If you have any questions about becoming a homeowner, feel free to give me a call.
The post Ways to Save for a Down Payment on a Home appeared first on Andy Schildhorn, PREC.
SURREY, BC – The Fraser Valley market showed early signs of a spring thaw in February, with sales increasing over January, but continuing to trail typical levels for this time of year. The Fraser Valley Real Estate Board recorded 843 sales on its Multiple Listing Service® (MLS®) in February, a 36 per cent increase from January, but 38 per cent below the ten-year seasonal average. New listings declined nine per cent in February to 2,796, suggesting some sellers are choosing to wait amid competitive inventory levels, and may be positioning their homes for the peak of the spring market.
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