{"id":13640,"date":"2017-08-30T14:07:45","date_gmt":"2017-08-30T21:07:45","guid":{"rendered":"http:\/\/www.simplicity-homes.com\/?p=13640"},"modified":"2020-12-28T11:00:08","modified_gmt":"2020-12-28T19:00:08","slug":"ways-start-saving-future-dream-home","status":"publish","type":"post","link":"https:\/\/www.simplicity-homes.com\/blog\/2017\/08\/30\/ways-start-saving-future-dream-home\/","title":{"rendered":"Ways to Start Saving for Your Future Dream Home"},"content":{"rendered":"

Before you can build your dream home, you\u2019ll need some savings. Of course how much savings you\u2019ll need completely depends on the type of home loan you are able to get. Some require more savings than others, and your credit score, debt to income ratio and other financial factors play into it as well. But, if there\u2019s one thing we know, it\u2019s that saving for a new home is something everyone can commit to and succeed at. Here are some saving tips to consider.<\/p>\n

Get Roommates<\/strong><\/p>\n

Are you living in a home or apartment that has at least two bedrooms? Is your lease up on your current apartment, and you need to find somewhere new to live? In either case, consider welcoming a roommate or roommates<\/a>. Doing so could save you hundreds of dollars in rent each month, meaning thousands of dollars saved over the course of a year.<\/p>\n

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Do Something Extra on the Side<\/strong><\/p>\n

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If you are already working full time, the idea of doing something more on the side<\/a> may seem onerous at best. After all, the last thing you want to do when you get off work, is do more work right? Well, if it helps you save for the home of your dreams, it could certainly be worth it! Put your skills to use, find something you\u2019re passionate about, and start making a little extra money doing what you\u2019re good at. Are you good at repairs? Teaching\/tutoring? Gardening? Got a strong back and don\u2019t mind outside work? Surely there is something that you can do, and perhaps even enjoy, that will earn you a few extra bucks.<\/p>\n

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Commit to Putting Money Away Each Month<\/strong><\/p>\n

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One of the hardest parts about saving money to buy a new home is not the earning, but the actual saving part of it. If you struggle with spending more than you need, one thing that you can do is to commit to putting away a percentage of your income each month. The amount you put away is up to you, but if you can save at minimum 10 percent of every paycheck, a year from now you\u2019ll have a good chunk of change. Don\u2019t hesitate to reach out to us if you have questions – we will help point you in the right direction.<\/p>\n

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Make Spending Cuts<\/strong><\/p>\n

Look at your budget and find out where you\u2019re losing money – chances are, there are a lot of spending cuts that you can make each month that will save. For example:<\/p>\n