5 Ways to Save Money When Buying A Home
                     Nela Buys Homes
https://www.nelabuyshomes.com
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5 Ways to Save Money When Buying A Home
Buying a house in LA is not an easy task and especially not pocket 
friendly. You must be earning around $127,000 annually to even be 
eligible to buy a single family home. Moreover, even after paying 20% 
of the down payment of the house, you are expected to pay $3,000 for 
monthly mortgage. So, how do you begin saving money for the house? 
Or how to save money when buying the house? We put together a few 
professionals and got down to answering these questions and much 
more so that you are completely prepared for buying your new house.
Decide the amount of money you want
Before even saving up for a home, you need to set a budget and look 
for houses that can fit well within that budget. Then, based on that 
budget you will have to make a long term plan in order to decide 
within how many years would you want to buy the house. Remember 
the longer you take, the more expensive the house will get. So, try to 
save up money as much as you can as fast as possible.
How to save up for a house?
Saving up money is an essential to buy a house. Purchasing a house is 
nothing like anything you have bought before. You have to make up a 
plan and find ways to save a lot of money to make ends meet. We 
would advise you to set a monthly savings goal and achieve it. 
Remember to note down the price of the type of house you want so 
that you know exactly how much you need to save.
Following is a list of things for you to do in order to save up for a 
house:
 Setting up a Savings Account/ High Yield Savings Account
We all have that moment where it clicks us that we should do 
something about our living situation; own a house and live in it 
instead of renting a place. The day you get your this moment, go to 
you bank and open up a savings account. However, this savings 
account would hardly give you any profit considering the little interest 
you would get. So, a better option for you would be to open up a high 
yield savings account. This is because these accounts give you a lot 
more interest than your average bank savings account. In fact, you can 
get a Certificate Deposit for a high yield savings account to compare 
and contrast how much you interest would you get from it and telly it 
with the interest the bank is offering. Then, whichever option attracts 
you the most, go for it.
 How much to put in that savings account?
First, plan out your monthly budget and figure out the total amount of 
money you need to spend on a monthly basis. Then, the rest of the 
money that gets saved up from your cheque should be immediately 
transferred to your savings account. Do this at the start of the month 
immediately after getting your pay cheque.
 Decrease your Expenses
Once you have made a list of your monthly expenses, think of what 
you can cut from that list so that more money can be saved. The 
whole point of this is to help you achieve your goal much faster. 
Deposit all that saved up money in your savings account so that 
you do not go ahead and use it on something else.
 Money instead of Gifts
We are sure you receive plenty of gifts in the holiday season or on 
your birthdays. So, how about you to talk to your friends and family 
and ask them to give you money to deposit in your savings account as 
a gift rather than actually buying you one. This would be a great way 
to add a couple more dollars in your account.
 Tips and Tricks to Saving Money when Buying a House
Listed below are 5 ways to help you save money when buying a house:
1) Using a Real Estate Agent
2) Credit Score
3) Home Inspections:
4) Mortgage Loans:
5) Avoiding Private Mortgage Insurance (PMI)
CONTACT US
Nela Buys Homes
Address: 5532 N Figueroa Street, #200 ,Los Angeles, California 90042, USA
Website: https://www.nelabuyshomes.com/