If you are in the market for a new home one way you can reduce your monthly mortgage payments is to have a substantial downpayment at the time of purchase. Some lenders may even require a certain percentage as a downpayment. Unfortunately, saving money is not the easiest thing for most of us to do! But here are some tips to help you save up money quickly!
*Ask…. I know it sounds simple but you wouldn’t believe the discounts I have gotten from my cell phone carrier, cable and internet provider, insurance, doctor bills, and paper delivery all by making a phone call. While in some cases you may have to give up some of your higher quality services such as lowering your internet speed a bit most of the time they will just offer you a promotion they have going on or figure out a way to save you a bit of money each month. Lets say you are able to save just $20 a month from each of these providers. Over the course of 6 months you will have saved $600, a great start to a downpayment!
*Cut coupons and shop sales for your groceries. Coupons can be really helpful but if you aren’t the couponing type then at least consider buying store brand items or discounted products. Most of the time the product is the same and you can save nearly 40% by eliminating name brand. If you usually spend $100 a week at the grocery ($400 per month) but now you start browsing the ads for sales, buying off brand, and looking for discounted products you can bring your grocery bill to $60 a week ($240 per month) a savings of a whopping $160 a month which means $960 over the course of 6 months!
*Avoiding the little expenditures is another key in saving up that much needed extra money. We all know you have to pay the basic bills and there’s not a whole lot you can do about that but the “extras” need to stop or slow down while you are saving. For example if you skipped getting your morning Starbucks for 6 months you could save $720. That’s a lot of money for a quick morning fix. Quitting smoking is not only healthy but another great way to save that extra money.
*Last but not least, in an effort to save money it seems obvious that making more money is another great way. You can do this many different ways. One of the easiest and quickest ways is to sell some of your old items you are no longer using. The popularity of Facebook rummage sites is growing and is a very effective way to sell unwanted goods. Craigslist, ebay, and Amazon are also great tools to use to make some extra money. Once you have cleared out your closets and attic you may want to explore the idea of offering your services. Instead of going out to dinner this Saturday night and spending money why not offer up some babysitting services. Some other ideas to make a few extra bucks are: dog sitting, mowing yards, organizing, donating plasma, cleaning houses, doing taxes, running errands, and the list goes on. Depending on how often you do these you could easily make an extra $300 per month or $1,500 over 6 months.
By doing these simple suggestions and watching your money more closely you should be able to save $3,780 without making too many lifestyle changes. A great down payment for some houses! If you are thinking of buying soon contact us for even more tips on preparing for home ownership.
Do you ever sit back and long for the good ole days? The days when gas didn’t cost an arm and a leg, when neighbors were friends, and when kids had an inherit respect for their elders. Well we don’t exactly have a working time machine but we do have a house on the market that can at least momentarily transport you back to a simpler time (but with modern conveniences, so the best of both worlds). This beautifully renovated historic home is located on 8th St. in Anderson and features a great deal of custom additions as well as original pieces such as the custom cabinetry and lighting and the hardwood floors are the restored originals. Just walking through the door you get the sense of history and hardwood that went into making this one of the most beautiful interiors in all of Anderson. It is the perfect combination of old world glamor and new world comfort that creates the ideal atmosphere for any family. And unlike many other older homes this one comes equipped with a new furnace, water heater, plumbing, and electric so that it will function like a newer up-to-date home but still possess the character of an older home. This is truly a sight to see so if you want to set up your own tour contact me ASAP as this one won’t last long.
Often times I hear people say that they are just going to save up to buy a home by renting for a few years instead. Unfortunately they have been misinformed as to which of the two is most expensive. In fact a recent study by Trulia reports that buying a home is 38% cheaper than it is to rent! Those numbers are significant in themselves and yet it still doesn’t encompass all of the other benefits to being a homeowner versus renting. Not only can you paint your bedroom any color you choose or install a modern looking kitchen sink but not having to answer to anyone is a bonus all in itself.
Another way to look at the benefit of home ownership is choosing whether you would like to save up money for someone else or save it for yourself. This is essentially the question you need to ask yourself when you are considering renting. When renting you are helping another person pay off his or her mortgage so that when they choose to they can sell the home and retain the money. By paying for a mortgage you are in a way putting your money into a savings account for your later self. Hopefully you could eventually sell your house for a profit but even if you don’t you will still recoup a great deal of the money that you paid into the original mortgage.
The bottom line is that home ownership is one of the best things you can do to reduce your cost of living, give yourself freedom over your living space, and help provide for your future. All in all there is no real competition when it comes to renting versus owning your own home! If you are currently renting and are interested in learning the steps to home ownership we would love to answer any questions or concerns you may have. Feel free to call or email us anytime!
What if I told you there was a place in Anderson that you can check out some great movies, learn about all of the newest and most useful apps, bring your kids on rainy/snowy days to keep them entertained, participate in classes specifically for your babies or toddlers, learn important computer programs, get homework help for your children, meet friends by joining a book club, or even learning about your health insurance choices, and the list goes on and on? Would you believe that our very own Anderson Public Library offers all of these services and it’s all free! It seems that most of us just assume a library lends books and that’s it but now-a-days the library is a great place to socialize with other parents, encourage your child’s love for learning, and educate yourself on the newest or necessary computer know how. In fact every week they seem to be adding new and exciting activities and events to their busy calendar. Sign up for their library newsletter or check back often to see what fun and educational things they are offering or better yet take the family one day and explore each unique nook and cranny!
One mistake that many home sellers make is assuming that a perspective buyer can use their imagination to see the full potential of a space or home. In fact, a big open space can almost be overwhelming unless there is at least a hint of possibilities in the room. This is where home staging comes in. By eliminating the clutter and either organizing your furniture and decor or bringing in their own, in a creative and eye-pleasing way you can transform a once so-so space into a home that people will be clamoring to see. According to “The Times”, home staging can increase prices from 2-10% in a moderate market and up to 50% in hot markets or for luxury homes. With numbers like these the amount that it would cost to pay a home stager is well worth it. Since a big portion of home shopping takes place online it is key to have pictures that are eye catching and stand out among the other homes. By hiring a home stager to use their expertise to adds pops of color and inviting lay-outs you have a much better chance of garnering interest and in turn selling your home much quicker.
I have been a big fan of Jessica of Designs by J! Just check out the picture of her recent renovation on one of our Pendleton homes for sale. (417 McCloy Dr.) Not only does she offer the service of home staging but for those of you looking to spruce up your current home, in a short amount of time she can make a big, positive impact. She is graciously extending an offer to all of my clients for 10% off of their home staging needs. I cannot stress enough how wonderful she is to work with and how using her services will undoubtedly speed up your home selling process.
Do you remember when talking about buying sophisticated decor, high quality furniture, or European flare meant traveling at the very least to Indianapolis or even Chicago. Which is why it is so exciting that now with the store “A Touch of Europe” establishing itself in Pendleton we can find all of the above right here in town! This spacious store features beautiful and modern furniture from the likes of Italy and Germany. The authenticness of these pieces is evident from the moment you walk in the door. There are also a wide variety of intricate rugs that would add depth and intrigue into any room in your house. In addition to the furniture is the vibrant art work and statement decor pieces that would certainly act as conversational pieces over dinner. The selection here is certainly something you cannot find anywhere else and the quality and craftsmanship to these pieces will lead you to believe that the entire store is expensive. Thankfully I took the time to look at the prices and was shocked at how reasonable some of these imported art works, decor, and furniture were. In fact with the quality, beauty, and functionality of the furniture I could confidently say you could get a better deal here than at some of these run of the mill furniture stores. So next time you are downtown Pendleton stop in and check out the ever changing and evolving inventory and lets continue to support these local stores in our hometown!