I speak with many people who feel they will never be able to buy a home of their own and you know what?  Unfortunately many of them won't.  Oh it's not that they couldn't.  It is that they defeat themselves before they start. This series will help you to prepare to become a home owner.  

Well first you will need to save some money.  The first self defeating notion I have heard when people think about saving for down payments and closing costs are that they can not possibly save enough so why bother?  I think many people believe incorrectly that they need a lot more in the bank than they do.  There are many programs to help with savings and there are mortgage products out there that can get you into a home for less money than you think.  No you don't need 20% down on a house.  There are low down payment programs out there that can help.  Many of my First Time Homebuyers start out with $3000 - $5000 in the bank.  That may be enough to get started on the journey to your new home so .... Start saving today and get yourself in to see a good mortgage adviser who can help you determine which programs will work for you and how much you will need. I know it is tough but there are ways to save.  

Do you go out to eat a lot?  Maybe you can cut back on the restaurant and fast food meals and save the difference.  

Do you buy new cars or lease them every few years?  Can you try to get by with the one that is already paid off and put away the old car payment amount in the bank each month?

Do you go shopping without a list or a specific need in mind?  I know I spend more when I hit the stores without a specific goal or a list in hand at the grocery.

Do you spend a lot of money on entertainment? Are there things you can do that don't cost as much and can still make you happy?

There are many ways to cut expenses and save.  Even if it seems like a small amount, every penny will bring you closer to having the money that you will need.

Another option for you may be a Saver's Club.  Several local lenders participate in programs that can set you up to earn four dollars in matching funds for every dollar you save.  Call me today for information on these programs.

Several mortgage programs also allow gift funds to help you but there are specific guidelines that your Mortgage Adviser can review with you.

I am not saying you should give up everything to save, life is too short to deny yourself all pleasure but you can spend less of your money satisfying your needs. Thomas A. Edison said "Good fortune is what happens when opportunity meets with preparation"  I wish you good fortune as you prepare yourself for home ownership.

Working with an experienced Buyer's Representative can help guide you to what is best for you.  I work in Orange, Ulster, or Sullivan County NY and I would love to be your Buyer's Agent. If you are looking elsewhere I would love to find someone in your chosen location to help you.  Give me a call or send an email today.