I want to buy a house, how do I save money?

Answer 1

There are some great ideas in the answers you've already received. I agree that you should arrange for an automatic payroll deduction directly into your savings account.

Head to the local library or search the Internet for dozens - no, hundreds - of money-saving tips. Some of the ones you'll see over and over pertain to preparing meals at home instead of eating out, packing your own lunch, cutting out little treats such as buying coffee/sodas each day from the coffee shop or vending machines. Bring your own beverage/snack from home.


There are many good websites that deal with frugal living. Look into them, and determine what you can readily accomplish. Remember that little savings add up to big $. The secret is to make a committment and stick to it.

Would a part-time job be feasible for you to start putting aside some bucks for that down payment?

Good Luck!

Answer 2

Look for and find homes with a sign or advertisement that says "For Sale By Owner." You can save thousands of dollars by going around the real estate agent. I've bought probably a dozen homes this way. I buy homes and rent them. Most of the homes I buy are fairly new and were about to be repossessed by the bank. This is another way to save big on houses. The bank will usually try and sell the house for exactly what is owed on them.

Answer 3

All good answers. Hire a home inspector. For a few hundred $$, you could potentially save thousands. If there are major items that need to be addressed, you can have the seller fix them or take it off the price of the house. This is the best money you will ever spend. Good luck.

Answer 4

If You want to buy a house , you must save money,to save money try to find a bank that has lots of interest , be cooperative with your wife or husband,hardworking makes a good start to a brighter future,always respect elders,be smart enough when you are buying things and always pray to God.

Answer 5

If it's a first time loan the bank will give you 100% no deposit required, otherwise you'll wait very long if you're saving up on your own. Remember property rates increases each year, by the time you want to buy, and then you cant afford it. Find it if you can plot and plan in good area. This way you build your own house, in your own time, the way you want it.

Answer 6

If you have to ask the question about saving money, you obviously have a problem doing so. Take a look at your complete financial picture. Make payments to your creditors (it will help in securing a mortgage). I would suggest saving at least 20% of your net take home every month if you can swing it. To purchase a house you will need at least 5% down and if you can swing 20% down you can avoid paying PMI.

Answer 7

Going from scratch to a house is hard these days. Coinsider moving to a location where housing is cheap, such as Youngstown, Ohio, where I've seen many houses selling for under 20k for the full deal!

Answer 8

If possible have money directly taken out of your paycheck and placed in a savings account. That way you never see the money, so you are less likely to spend it.

Answer 9

Figure out what you need to spend on your necessities. You know; power, water, food, rent, etc. And then stop buying other stuff.

Answer 10

well if you have a stable job or business try leasing a house!! these days banks givegreat offer. do your research, of which banks giveyou the best offer.