Autumn is a popular time for new home buyers to start looking for their first house or condo. But with that down payment looming, everybody could use a bit of help saving up to make that bulk payment a little less intimidating.
There are plenty of unconventional ways to save up that may seem small, but will quickly add up and put a dent into that down payment.
Create A High Interest Savings Account
Talk to the bank about creating a secondary savings account with a higher interest rate. These super savings accounts usually come with the caveat that no money can be removed for a designated period of time. Using this account for the down payment works in everybody’s favor because it guarantees those extra dollars cannot be used for any other purpose.
Discard One Guilty Pleasure
Enjoy Starbucks coffee? Grab a pint every happy hour? Choose one vice and put the amount that would be spent on it into a jar. Most people will be surprised on how much money they spend each month on one guilty pleasure that can easily be cut out of their life. Every perk that’s cut will increase the amount by a decent margin.
Put Away Any Bonus Money
Holiday bonuses from work, tax refunds, birthday or Christmas presents, income from side gigs, any and all extra dollars that come in from any source outside of the main paycheck should be considered ‘down payment dollars.’ Sure it’s tempting to use that nice bonus or tax refund on a weekend trip or a night out, but all extra income should be saved away for that initial down payment.
Bring On The Roommates
People who already own a home and are looking to relocate can take this unconventional approach. Decent housing is hard to find so anybody with an extra room can rent it out and put that money towards the new house. Having a roommate can be a pain, but it’s for a limited time and can add up quickly.
While saving for a down payment can be stressful, you don’t have to go through the process alone. I’d be happy to guide you and provide some helpful tips for how to make that down payment without breaking the bank. I’ve seen countless couples go through the same thing and my experience can make a world of difference for you. Give me a call – J.P. Cook – 602-320-4253.
Click Here to See What Your Home is Worth
1783 E Mulberry --
Prescott Valley, AZ 86314
$459,000
2
Beds
2
Baths
1,896
SqFt
Status
Active
MLS #
6644241
Property Type
Single Family Residence
Price Type
--
Outstanding home in desirable 55+/Victorian Estates, Gated Community, providing a Quiet, Peaceful, Safe location with easy access to all shopping, entertainment, hospitals, doctors, etc. Here is a 1896 Square Foot/One level with 2 spacious Bedrooms, 2 Bathrooms, 2 Car Garage + Den & large Family Room/Media Room/Flex Room (Potential 3rd Bedroom), GREAT ROOM Concept, 2 Tone Paint, Crown Molding, Ceiling Fans, Wood Blinds, Wood Plank Tile, & Newer Carpet. Kitchen was upgraded in 2016 with Antique White Cabinetry, Dovetailed Drawers, GRANITE Countertops, Tile Backsplash, 2019 Stainless Steel Appliances (Including Fridge), built-in Pantry, & built-in China Hutch. Master is Spacious with His/Her Walk-In Closets, Dual Sinks under GRANITE Countertops, Full Tub with tile surround, & separate Shower with Glass Doors. Home also has Large Utility room w/Upper Cupboards w/(Washer/Dryer) Conveying. Has large Open Patio, Fenced Dog Run area for small dogs, Attic Storage, Security System, Security Screen Door, & is Walking Distance to Clubhouse & Pool.
5363 E Santa Clara Drive
San Tan Valley, AZ 85140
$459,000
4
Beds
2.5
Baths
2,222
SqFt
Status
Active
MLS #
6658040
Property Type
Single Family Residence
Price Type
--
NO HOA! Situated on a corner lot that is almost a quarter acre, this stunning 4-bedroom, 2.5-bathroom home features a 2-car garage, a side-entry RV gate with RV hookup, 10ft entrance gate, and elegant stone details. Spacious great room with 12ft ceilings, recessed lighting, and stylish wood-look floors. The gourmet kitchen boasts granite countertops, white shaker cabinets, stainless steel appliances, subway tile backsplash, a pantry, and an island with a breakfast bar. The primary suite offers backyard access, a walk-in closet, and an en-suite with dual sinks. Enjoy a water softener system, a backyard oasis with a full-length covered patio, built-in BBQ, water feature, and lush turf. This home features a dual HVAC with a split system and a water softener system.
3710 S 180th Lane
Goodyear, AZ 85338
$459,000
3
Beds
3
Baths
1,955
SqFt
Status
Active
MLS #
6691888
Property Type
Single Family Residence
Price Type
--
Welcome home to this energy efficient single story home in Las Brisas, Goodyear! A very spacious open concept allows plenty of room for entertaining. With granite counters, a large kitchen island and finished back yard with turf the inside and outside merge seamlessly. The 3 large bedrooms and 3 full bathrooms mean that everyone has their own space to get ready. The three car tandem garage makes way for all your cars and extras. The solar on this home is a steal with a low monthly payment to own, keeping you cool in the summer at a minimal cost!
20395 N Shadow Mountain Drive
Surprise, AZ 85374
$459,000
2
Beds
2
Baths
1,598
SqFt
Status
Active
MLS #
6691261
Property Type
Single Family Residence
Price Type
--
Welcome to your NEWLY UPDATED, OPEN CONCEPT home! This spacious home boosts new INTERIOR PAINT, new SHUTTERS throughout, new LVP flooring, new SHAKER cabinets and new QUARTZ counters in the kitchen, and a brand new A/C and FURNACE system! The Living area offers a dedicated space for a desk or sitting room. The Kitchen is a chef's dream! Stepping outside onto your large backyard patio, complete with a Built in BBQ and large covered area, you have plenty of shade and sun! This home is truly a MUST SEE!
