Scroll To Top
Real Estate Guide Home Page

Princeton, NJ Real Estate Articles

Share:

Most recent posting below. See other articles in the "Other Articles" section at the bottom.

21 Creative Ways to Save Money for a Home Down Payment

To make the leap from renter to homeowner, you’ll need to save, or have already started saving, for a down payment. A down payment is typically between 3% and 20% of the purchase price of a home, but if you’re like the median successful buyer, your down payment might be anywhere between 10% and 19%. That may feel overwhelming if you’re just starting out, but setting up a budget and finding creative ways to save money over time can help. A 2022 Zillow study found that 63% of recent buyers who obtained a mortgage used savings for at least part of their down payment.

The exact amount you save every month will depend on how much you expect to spend on a down payment — if you’re stuck, don’t hesitate to talk to a lender. They can help you break down the numbers, and once you’ve pick an estimated moving date, you can calculate your necessary savings from there.

If you already have a designated monthly savings bucket, that’s a great start. Of course, the more you’re able to put away, the faster you’ll reach your savings goals for your home. Here are 21 ideas to help make that happen.

Read More

Other Articles

Buyer Traffic Is Still Stronger than the Norm

The 13 Emotional Stages of Buying a House

2024 Mar Today
SU M T W TH F S
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31