Palm Beach County Real Estate Blog

Buying Your 1st Home; 5 Easy Ways to Save Up For a Down Payment!

Buying Your 1st Home, 5 Easy Ways to Save Up For A Down Payment

If you are renting or living at home, the most common reason instead of buying your 1st home is often the deposit.  Many buyers can afford the deposit and have the acceptable credit.  In fact, many buyers would save money as their rent payment is usually higher than the payment if they owned the same home!  A typical buyer will need a minimum of 3 1/2 to 5% minimum as a down payment.  Additionally, there are closing costs that will need to be paid when buying a home.  

So what is someone to do? There are many ways to address the downpayment and closing costs required if you are creative and willing to put buying a home first.  Here are a few suggestions:

  1. Use your tax...