Saving for a down payment is hard work, so it’s a good idea to really have the desire to own your own home when you start your savings account. It’s hard to turn down a weekend in the Bahamas (or Downtown at the Clubs!) when you don’t have a definite goal.

Step One: Get a job! This will definitely help you find the money to save! LOL!

Step Two: Keep the Job – Job longevity is an important factor that financial institutions look for when trying to qualify for a mortgage.

Step Three: Go through your worn clothing with a fine-toothed comb. (Please, this is strictly figurative! No yucky combs on your financial documents!) Ask yourself some very serious questions: Do you really need to spend $5.00 on a cup of coffee five times a day? Even though it is fabulously delicious?? Even a cup at $3.25/day costs $1186.25 a year. Five priced cups per day would be $5931.25. That’s a lot of money, and often enough for a down payment.

It’s a good idea to write down everything you actually buy: lottery tickets, coffee, lunches, snacks, clothes you don’t really need; it’s the “little unexpected expenses” that really add up.

Step Four: Start a separate bank account, just for your ‘future home’. Anything you can put in there is good; If you can manage $25.00 per week, that’s $1,300. one year; $50./week gets you $2,600. a year, and if you can earn $100./week, that’s $5200. in one year.

You’ll be surprised how easy it is to blow $100. In all sorts of little things: When you make the big decision to buy your own place, suddenly, you find yourself prioritizing…and that doesn’t mean you have to slap your hand to stop. of frivolous spending (which, unfortunately, turns out to be the most fun type of spending! ha ha!). You’ll just make the decision one day that you need to own your own home so you can 1) Make money, 2) Not hand over your money and have nothing to show for it at the end of the day, say, Monday. … poof poof! 3) Secure your future.

Step Five: Find out how much you can borrow for your new place. Click online so you can quickly determine this information. Especially if you’re new to the Real Estate game, it’s less stressful than going to the bank, plus you don’t have to make a special appointment!

Step Six: Start looking for your new place! Take a look at the fantastic new condos that are everywhere, now. They have really good payment plans, and if you make your purchase before they’re built, you’ll get a great deal.

Contact a real estate agent to find out what’s available in your price range – they’re there to help and can really help you narrow the field and get you to something you can afford and love.

Remember you don’t have to live anywhere forever – many people fall into the trap that they can’t buy because they’re not sure where they’ll be in 5 or 10 years…even if you only have a year you’re sure of , go ahead and buy. You can always sell it and you won’t lose money on Real Estate, maybe walk away with an extra $10,000. – $50,000. of property values ​​going up! That’s not bad! Not bad!

Here’s a little tip for women: You know, it’s more common than you might think that a lot of women are ‘waiting for a man’ before they even start thinking about buying a place. Forget it! Men, Schmen! Go find it yourself, girl! And save it until you’re sure you really like it… In the ‘old days’, like when I was in my late twenties in the early ’80s(!), there was this weird thing that if a woman had her own place, then she was sending a message that she ‘didn’t need a man’…so many women would wait until marriage before trying to buy a house.

Thank goodness those days are gone! Puh-leeeease! It’s always nice to have a man, but women don’t technically need them…for long, anyway…and you can go ahead and get your own place without waiting for anyone. You can be comfortable and cozy on your own no matter who you are… you can always sell it later and buy something different together, which is healthier for a new relationship, anyway, right?

So start saving, and before you know it, you’ll be moving into your own home. Then you can start saving to go to the Bahamas and go dancing on the island!