New Year, New You

One week into to the New Year and if you made any New Year’s resolutions you are more than likely feeling pretty good about your efforts or already falling off the new year buzz and slinking away and letting them go to the wayside.

If you resolved to buy a new home in 2018, even if you might have given up on one goal, there are plenty of other goals/preparations that would-be home buyers can make to put homeownership within reach for the New Year.

Here are some resolutions, yes plural, so even if you fail at one, we can keep you heading in the right direction with other options to keep you on the right path.

Down Payment Savings

You might not need to set your sights on 20 percent down, but you do need to save.  A helpful way to keep your commitment is to automate your bank account so a small amount of your paycheck automatically goes into a separate savings account dedicated towards your house.

Give it a fun name, “Making Dreams Happen”, “Dream House”, “My Future”, you get the idea.

Credit Cleanse

“New Year, New You”, we see that caption on just about every magazine cover starting January 1st.  What diet will you start for 2018, what cleanse after the holiday food indulgences will you partake in?

How about a credit cleanse?  Commit to paying your bills on time, keep up on credit card payments or better yet, commit to paying them off.  Check your credit report for errors.

Budget

Downsize your budget now so you’ll be able to save more for your down payment and pay down any debts. Also, factor in added expenses that come with buying a new home, like furniture and accessories. If you know that a mortgage is going to take a bigger amount of your paycheck, create a budget that factors that in so you can get used to living on less disposable income.

Committing to a New Year’s resolution is like committing to any other goal in life.  You just have to keep trying.  Set your mind to your ultimate goal and work towards the outcome.  We wish you luck and if you need down payment assistance, we are here for you.

 

 

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