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It Can Happen To You - A Series To Turn You Into A First Time Home Buyer

By
Real Estate Agent with Better Homes and Gardens Rand Realty

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.  

How can you save when everything costs so much?  
Well take a look at your lifestyle.  


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

new CarDo 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?

ShoppingDo 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.

EntertainmentDo 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 youpenny 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.

Comments (7)

Mike Saunders
Retired - Athens, GA

Paddy - simple changes in lifestyle can mean major differences in bank accounts. People should, along with following your recommendations, listen to the likes of Clark Howard (except when he talks about real estate, of course) and Dave Ramsey for ways to significantly save money.

Aug 24, 2009 03:52 AM
Paddy (Patricia) Pizappi
Better Homes and Gardens Rand Realty - Pine Bush, NY
Real Estate Associate Broker Hudson Valley NY

Thanks Mike.  Those sound like some good resources to help people learn to save.  There is always a way. 

Aug 24, 2009 04:00 AM
Lindsey Hasford
Edina Realty - Elk River, MN
Bringing you home...

Paddy - You have hit it! It is about choices. I've had two buyers this year that told me that they just aren't ready to make the necessary changes. :0) I know that when they are ready they'll let me know.

Aug 24, 2009 05:29 AM
Paddy (Patricia) Pizappi
Better Homes and Gardens Rand Realty - Pine Bush, NY
Real Estate Associate Broker Hudson Valley NY

I am sure they will come back to you because you were honest and let them know the options.  Thanks for your comment Lindsey

Aug 24, 2009 05:38 AM
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

Paddy, Cool series. Cool colorful text in your responses. Where did you learn how to do that? I betcha a little birdie told ya...

Helping you live your American Dream...

Aug 25, 2009 09:39 PM
Paddy (Patricia) Pizappi
Better Homes and Gardens Rand Realty - Pine Bush, NY
Real Estate Associate Broker Hudson Valley NY

Yes thanks to a little birdie, named Michael, I too have the ability to rock some color in the responses.  I am loving it.

Aug 25, 2009 09:50 PM
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Paddy Could it be you drink too much expensive coffee? big savings there......lol

Aug 26, 2009 02:54 PM