RESOLUTION : Saving For a New Home
Story By : Carlos Garcia 240.286.3611
I f you ' re like so many people , you ' re working hard to save money to purchase a first home . On the other hand , you might be looking to upgrade , purchase a vacation property or invest . Regardless of your real estate dreams , saving enough money for a down payment might turn your fantasy into a nightmare . Fortunately , there are many ways to make achieving your real estate goals possible .
If you are looking into purchasing a new home , the first question you should ask is how much you need to save . The second question is how much can you afford to save . The third question is how you will go about saving , in other words how will you budget .
To determine these figures use an online calculator to estimate what the monthly costs of your new home ( including down payments , principal , interest , taxes and maintenance ) then compare these numbers to your current financial situation .
If you aren ’ t comfortable using an online calculator , or if you have questions , you can ask a mortgage specialist for help . Be sure to inquire about ways to make a home loan possible even if you don ’ t have a large down payment or great credit .
Once you know how much capital you will need , its time to save . Here are some tips to help you make your money grow .
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GREENBOOK | SPRING 2017