WRITTEN BY OLU
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The first step of determining a cash flow leak is to inspect your purchase history. You might not like what you see, but it shows your overall spending pattern.
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If you want to buy a home, you should know how much you can afford. Calculate the amount you need to close the house based on the purchase price. It is your minimum saving target
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For most, budgeting is daunting, and I’m not too fond of it either. But agreeing to a 30- or 15-year long-term loan is a lifetime commitment, and you can’t go easy on it.
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Open a Separate Savings Account
You can call this a house savings account. You must keep the personal account and house savings account separate.
"That is the heart and soul of the American dream, homeownership, the idea of being able to buy a house and start to build your family.” – Wendell Pierce
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There are numerous side jobs available that you can get started right away that do not require advanced qualifications. You can leverage them and make money
Homeownership comes with a hefty price tag. In addition to a down payment and closing cost, you would also need extra cash to close during the bidding war. Therefore, it is essential to save for it.
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