Tips to save money and buy a home
Wednesday, 5 September 2012
Whoever thinks about stability, there is a desire to have a place to call your own. But buying a house is not as easy as it may seem on TV. However, it is not impossible if you have discipline and focus on your goal. Wanna learn how to save money to buy a home? This article is for you!
Who doesn’t want to own a beautiful house? But accomplish the dream of homeownership may not be very simple. Many people do not take the project off the paper because of the high property prices and the difficulty of getting enough money to make the investment.
It is not easy, especially in times when the economic situation is difficult, but with discipline and great planning you can buy a place to call your own. Want to know how? Check now 6 simple and practical tips that will help you get closer to purchase the home of your dreams:
1) Make the right choice
Imagine living in a huge house with garden, barbecue grill and a pool area? It would be awesome! But can you pay for all this comfort? Probably the answer will be no. So there is no point wanting to buy something out of your reality.
Of course, you do not need to give up that dream. But if your money is not enough now, it is better to buy a smaller property. Keeping your foot on the ground is the first step to achieving your goal!
2) Dodge the credit card
Buying whatever you want and pay it in 10 parcels may seem like a good deal. But not always. Credit cards interests are very high and, without adequate financial control, you may get a headache in the future.
To be able to gather the money needed to purchase a home, it is best to buy only what you can pay in cash. In addition to helping escape debts, you can still get a great discount at the cashier.
3) Live with family and save more
Who has not left the parents home yet can save even more. Since there are less responsibilities, the money that would go to mortgage or the water bill, for example, can (and should!) be spared.
The most important thing is to maintain proper control of finances, since the obligations with the house are cheaper. Avoid unnecessary expenditure - stop buying new clothes without a good reason and expensive entertainment every day.
4) Consider living with friends
For those who can no longer bear to live with the family, a good idea is to share a roof with friends. By forming a type of sorority, the most expensive bills like rent and condominium will be diluted and will weigh less in your pocket.
Another thing that will help to save in this case is to split expenses with grocery shopping and household furnishings. It would be difficult to buy a stove, a refrigerator and a sofa, at once, isn’t it?
5) Seek for a cheaper rent
If you already live alone, you can save more getting a cheaper place to live. Affording the bills alone can be very heavy and save money at the end of the month can become an even more complicated task.
Therefore, consider this alternative. You will probably have to move to another neighborhood (perhaps further away from the central area of the city). Or you can choose a smaller place and with fewer facilities, like a building without recreation area and 24-hour doormen, for example.
6) Make saving a priority
If you really want to buy a house, you need to set your priorities straight. There’s no point in spending money without a good plan. One thing that can really help is to examine your finances and determine a fixed amount to save each month. It would be more difficult to lose focus.
Some banks and financial apps offer the option to schedule monthly or weekly transfers to an investment, such as savings account or an investment fund for example. This way, you will be "obliged" to save part of your money with a given frequency.
The tips are really simple and the best thing is: they work! Taking care of finances is something that requires a lot of discipline and, let’s be honest, it is easier said than done. But who really wants to achieve goals must maintain focus and set priorities. If the dream is homeownership, better give up the luxuries for a while. In the end, the effort will be rewarded with a house to call your own!