Steps to Saving for a Down Payment - Breckenridge Real Estate
Research has shown time and again one of the greatest hurdles to home buying is coming up with the sometimes dreaded – downpayment. Here are a few practical strategies to help you clear the hurdle and come up with the cash you need.
6 Steps to Saving for a Down Payment
1. Plan for progress.
Savings isn’t all dollars and cents. It’s a little emotional. To remind you why you’re in the savings game, it’s a good idea to find a few visuals – photos or a list of features of your dream home. When you’ve chosen your reminder, store it close to your budget, wallet, or in the place you pay bills to remind you of what you’re working for.
2. Slow your spending.
The biggest enemy of spending is the impulse to buy. When you’re tempted make a purchase over $25, wait 10 days to decide whether it’s something you really need.
3. Spend less for convenience.
Your mother was right, good things take time…and so do cheap things. From coffee on the go to lavish meals out, most consumers are paying quite a bit for convenience. Become friends with your kitchen to help your bottom line.
4. Drink more water.
According to the National Soft Drink Association, the average American household spends about $850 annually on sweetened drinks. In contrast, water costs just a penny per gallon. Make the switch to water and you’ll start your life as a homeowner not only richer, but a bit healthier too.
5. Tract expenses.
Experts agree, the orack expenses.nly thing more powerful than creating a budget is actually reading and tracking it. Schedule some time every week to review your spending habits and find new ways you can save.
6. Eliminate the excess spending.
Locate the excess in your budget and slash it. Trade the gym for home workouts, swap expensive movie nights for checking out free videos from the library, and keep an eye out at the end of each month for services you aren’t using.
Breckenridge real estate offers a wide variety of choices when it comes to finding the right property. Luxury homes, mountain cabins, town-homes, condos and acreage are available for home buyers looking to settle in this wonderful mountain town. To buy or sell in the Breckenridge Real Estate area or any other area in Summit County, contact the experienced real estate professionals at Ten Peaks Sotheby's International Realty.
If you would like more information about buying or selling Breckenridge Real Estate or any other area in Summit County, contact the experienced local real estate professionals at Ten Peaks Sotheby's International Realty. For Free listing alert updates check out our website at www.TenPeaksSothebysRealty.com