You want to buy a house, but you know that you need to save as much money as possible for a down payment. Although you've tried to save money in the past, your best efforts have failed to help you collect the funds that you'll need to make a down payment on your dream residence.
Let's face it – saving for a home can be difficult. Fortunately, we're here to offer creative ways to help you get the money that you'll need to make your homeownership dream come true.
Now, let's take a look at three creative ways to save for a down payment on a house.
1. Start a Friendly Competition
Competition often brings out the best in homebuyers. Much in the same vein, you and your friends may be able to compete against one another to see who can save the most money for a down payment on a home.
If you and your friends intend to buy a home together or separately, a friendly competition can make a world of difference in getting the required funds for a down payment. In fact, you can even award the winner of this competition with an "Ultimate Saver" trophy or other fun prizes.
Ultimately, a friendly competition is a great way to have fun with friends and save money for a down payment on a house at the same time. Regardless of who wins the competition, you'll notice that your down payment savings will increase, moving you one step closer to acquiring your ideal residence.
2. Use a Rewards System
Saving for a down payment on a home may seem like a long, arduous process. However, if you build rewards into your day-to-day savings efforts, you can earn incentives as you reach various milestones.
For instance, you may want to reward yourself with a special dinner every time that you reach a savings milestone. Or, you can always celebrate hitting a savings milestone with a trip to the dog park with your puppy.
3. Trim the Fat from Your Budget
It sometimes can be tough to remove cable TV, takeout meals and other excess items from your budget. But if you consider the long-term benefits of these short-term sacrifices, you may be better equipped than ever before to save significant funds for a down payment on a home.
Look closely at your daily, weekly and monthly budgets. Then, you can determine which budget items are essential and which are not and trim the fat from your budget accordingly. This will allow you to speed up the process of saving for a down payment on a house and ensure that you can achieve your homeownership dream faster than ever before.
Lastly, as you prepare to explore available homes, don't hesitate to reach out to a real estate agent for extra help. By hiring a real estate agent, you can get the assistance that you need to discover a great house that falls within your price range.
One of the most used rooms in the house is the bathroom. You do spend a lot of time in there. You want your bathroom to be an oasis of sorts. Making changes and renovations to your bathroom will not only make you happy but make potential buyers for your home happy as well. Below, you’ll find some trends to keep your bathroom stylish and a place that everyone wants to spend (at least some) time in.
Beware Of Design Trends
There’s a lot of trendy designs that just aren’t timeless. They don’t look very good in a bathroom after the initial install and tend to give the bathroom a drab feeling after awhile. Whether it’s a crazy color scheme or something bland that lacks texture, you need to think about the longevity of a look before you go after it in your bathroom. Some trends to look out for:
- Too much white
- Too little in the bathroom
- Funky color schemes
- Gigantic bathtubs
- Certain kinds of tile and finishes
- Hardware accents
Really, the bathroom needs to be about balance. There are trends that come and go. Some people are more receptive to certain designs than others. This is because their needs are suited. Take the his and her sink as an example. Many designers are shying away from this trend. For your routines and needs, this could be exactly what your bathroom needs. No hotlist can tell you what’s best for you.
Storage Is A Necessity
If you do only one thing in your bathroom, make sure that you have enough storage. There’s quite a bit that needs to go in the bathroom like toilet paper, towels, cleaners, medicines, as well as bath products like soap and shampoo.
Add Pops Of Color
If your bathroom has all white tile and you don’t have the time or the resources to actually change the tile, you should try and add pops of color where you can. It’s simple to do this with towels, floral rugs, curtains, and even bath accessories. You can really vary the color in the room and make it special. This is one renovation that doesn’t cost much to do but can make a big difference.
Remember What Sells
More neutral colors tend to sell better no matter what room of the house we’re talking about. It’s fine to mix neutral colors with pops of something bolder, but don’t go overboard. Remember that when someone goes to buy your home, they want to make it their own as well. They probably can’t achieve that with a lime green bathroom.
The entryway to your home is probably quite small, but you can make the most of your space by pinning down what you really need there. Below, you’ll find some items that you should try and keep around the entry of your home for both design appeal and organization purposes.
A Place For Coats
When guests come to visit, it’s welcoming for you to be able to offer them a place to hang their coats, rather than throwing them into a bedroom or on a chair. You can place coatracks on a wall for easy hanging, giving everyone open access to their coats when they need them. You can even place a coat rack along a stairway hall. This way everything from coats to bags to hats will all be in one place.
Having a weather-resistant rug available in the entryway of your home can help to keep dirt and grime off of the floor.
Every entryway needs some type of storage for items like extra coats, shoes, umbrellas, even bags. You can use an inexpensive shelving system or go as fancy as using a dresser or armoire.
It’s important to have some kind of seating near the entryway of your home. This way, you’ll have a place to sit down and put on shoes. Seating will also help make the entryway more comfortable. Make sure that the seating allows for a casual feel to add to the warmth of the welcome.
Flowers And Plants
Using flowers and plants in the entryway of your home gives guests that welcoming pop of color that will brighten their day. It’s one of the first things that guests will see when they walk up to the front door of your home, so you’ll want to make a good first impression. Shoot for year-round plants that don’t require a lot of maintenance and can be kept up easily no matter what the season.
Once you enter your home in the evening hours, one of the first things you want to do is turn on a light. This is one of the best features for your home to have safety and security when you enter and exit the house. You can choose any kind of light fixture that you want to accent your home in order to bring out the beauty. The only requirement is that you should make sure a light switch is always within an arm’s reach.
Make It Your Own
The most important thing that you can do for your entryway is to make it your own. You can add any kind of accents and features that you choose. The entryway is the first impression that people will get of your home, so make it count!
From the time an offer is made on a property, and the deal is done, you may face quite a few challenges. Whether you’re buying or selling a home, the process can be dizzying. There are a lot of things that go on from the time an offer is accepted, and the closing table is reached. The entire process of home buying and selling is designed with built-in protections to help both buyers and sellers avoid feeling a lot of regrets. Below, you’ll find some familiar situations in the buying and selling process, and what’s available to help you avoid disappointment.
Once An Offer Is Accepted, Is It Binding?
If you were overzealous to accept an offer on the home you’re selling and wish you had looked at others before making a decision, you’re not out of luck. Once you’re under contract, you’re obligated to sell to a buyer. The reason you may want to look at other offers is that it doesn’t hurt to have a “backup” buyer. If something falls through with the first buyer, the second buyer in line becomes automatically under contract. While you may not necessarily sell for more, in this case, there’s a sure way available to help you sell your home fast.
The Buyer Doesn’t Have The Financing They Thought They Did
If a buyer’s financial backing falls through or if the buyer is unable to get financing by the closing date, as a seller, you can walk away. Any financial changes to the contract that would impact you as a seller including a change in the type of loan, downpayment amount, or any variation from the contract terms allow the seller to end the contract unscathed.
Something Wasn’t Disclosed About The Property
Not everything is required to be disclosed by a seller. It all depends upon the rules within the state where you are buying. Understand what’s required to be revealed. If you feel uncomfortable with something, you can inquire about it, or add a contingency to have the problem addressed. Things like a death on the property can't be changed, for example. Your state may not even require that these events be disclosed.
The Home Inspection Raised Some Concerns
If the home inspection reveals some issues that the seller isn’t willing to fix, you have the right as a buyer to walk away. In many cases, these problems would be things like wiring or plumbing issues.
The Property Appraised For Less Than The Offer
If the property appraises for less than what you offered for the home, you may feel quite upset as a buyer. Don’t worry! There are a few things that you can do. Lenders won’t give you more than what the property appraises for. You can, however, bring more of your own cash to the closing table. You can also wait for the seller to adjust the asking price, or withdraw your offer altogether. The problem with the last solution is that you may lose any earnest money deposits