I don't know about you folks but my money tree never sprouted in my backyard but if it has for any of you, please feel free to leave me some tips in the comment box :). For the rest of us though, we will have to work a little harder to get where we need to get to. For most, home ownership has been the "go to" for the accumulation of personal wealth. It creates a sense of pride and it is a big something to call our own. And why wouldn't you be proud of it? You worked hard for that! 

For some though that journey to home ownership can come with a little resistance and a lot of needed cash. Some will hesitate, stating that its easier and more economical to rent than to tie your money up into a house. Or that they will save more money by just renting. These commitment-phobes are neither right or wealthy. In an article written by the New York Times last year addresses these objections:

            “Home ownership requires potential buyers to save for a down payment, and forces them to continue to save by paying down a portion of the mortgage principal each month.”


“Even in instances where renters have excess cash, saving a substantial amount is difficult without a near-term goal, like a down payment. It is also difficult to systematically invest each month in stocks, bonds or other assets without being compelled to do so.”


With that being said, some of you may be convinced its time for you to buy but you may be a little short on the down payment. That's OK! We got you covered! Read the tips below to get you on your way to home ownership!


1. Create a Budget


This is the best place to start. Why? It gives you a financial snap shot of where you're money is going and where you may need to cut back. You may see that you are spending a lot on going out to eat or little too much on shopping. Finding where the excess spending is going to will help you control and eliminate it moving you several steps closer to your goal.

2. Break down your financial goal


Lets say for instance your plan is to save 15,000 for your new home (down payment, closing costs, etc.). That number can seem pretty daunting and nearly impossible to obtain immediately. But if you break down that goal to something more manageable, more obtainable, then you're more likely to achieve those smaller goals with less stress and apprehension. Try breaking it down by months and weeks and you will feel more motivated to reach your financial goal.

3. Get an extra J-O-B!

If you're not making the big bucks at your current job you may want to look at getting a second job. Dave Ramsey, financial author and radio host,  always suggest getting a pizza delivery job to help you reach your financial goals. While the pizza delivery job may not be your thing, there are plenty of other part time options to jump on board with. You may have to sacrifice a little of your time and social life but it will be well worth it in the end. 

4. Dine in instead of out

This goes along with your budget planning. If you have noticed that you spend way too much on going out to eat or drink, you may want to start spending some time pretending you are a Top Chef. Choosing to make your own meals at home will significantly cut down on your food cost because you don't have to pay for someone else to prepare it or tip the server. Even choosing to entertain at home versus out at a restaurant or bar will help cut down on cost while helping to maintain your social life.

5. Out of sight, out of mind

Choose to put your saving in a place where you are less tempted to use it for something else. Moving your savings to a separate account or a place that it is not readily accessible will help minimize the temptation to spend it on something that is less important than your goal


Well there you go, some easy steps that anyone can take immediately to get them into there new home!! If you have achieved your financial goal of a down payment and are ready to take the next step, give The LeAnne Carswell Expert Real Estate a call at 864-895-9791 and let one of expert buyer's agents find you a new home!!