10 Tips on Saving for Your Ideal Home

I’ve always wanted to be a homeowner, however with all the doom and gloom these days about the current housing market,  I’ve found myself much less inclined to purchase a home than I had been previously.  At least that’s what I thought until I spent the weekend spiffing up my sister’s recently purchased home– talk about sibling rivalry!

The 900 square feet that my husband and I live in was dwarfed by the almost 2,000 my sister now has at her feet.  We spent the weekend painting walls whatever color we wanted (no need to get approval from the landlord!), playing fetch with her dog in her private, extensive backyard and playing music while we worked without a second thought of what those sharing a wall with us might think.

And thus, on my drive home, I started rethinking this whole ownership thing.

I quickly realized, however, that if I ever want this dream to come true, I better start saving now.  I happened upon a Real Estate Guide article that walked though the 10 Tips on Saving for Your Ideal Home (Thanks Home Loan Guru!).  And while everyone has their own savings mantra, I thought this was a pretty helpful way to look at things.  Here are a few of my favorite tips:

Define the Big Picture– how much can you afford, realistically, to spend on a home, based on your current income?  Check out some of our mortgage calculators if you aren’t sure– or contact a professional within Zillow Mortgage Marketplace to get a professionals advice from the very beginning.

Determine Your Necessities- I personally know that I will need my Starbucks fix at least twice a week– so I have budgeted this expense in, guilt free.  There are other things, however, that I know I can cut out without too much effort– like avoiding the Nordstrom Anniversary Sale.  Keeping a realistic budget, and sticking to it, is key in saving for a new home.

Be Patient– Realize you aren’t going to be able to make all these changes overnight, and thus be ready to purchase that home in just a few months.  Things will come up you aren’t anticpating– perhaps your car needs new brakes, or you can’t bring yourself to say no to a girls spa day.  Just keep the faith– and know that the end result is worth it!

Check out the rest of these 10 tips on saving for your ideal home– happy saving!