Picture of a dollar sign

Seven Ways to Stay Patient While Saving up for a Down Payment

1) Make a (realistic) timeline

Figure out how much you can save per month, determine how long it’ll take you to get to your down payment goal, then work your plan.

2) Try to look at the big picture

When you take a step back and look at your goals in terms of years instead of days, you start to understand that good things take time

3) Stay off all the real estate listing websites on your browser

Don’t drive yourself crazy while you’re saving. Block out the triggers and distractions and keep your eyes on the prize.

4) Keep track of your progress

If you check your progress every month or every few weeks, you’ll see that you’re actually making progress and getting closer to your goals.

5) Get a side hustle

Not only can finding a side gig help you reach your savings goals faster, but it can also keep you busy and your mind occupied while you work toward your goals.

6) Cancel your HGTV cable channel subscription and any non-essentials

Seeing the joys of homeownership crammed into beautiful thirty-minute segments isn’t helpful to those trying to be patient, so make sure you cut the cord.

7) Remember the goal – stay focused!!

Keep going with your goal in mind, and whenever the going gets tough, remember why you’re being patient. If you can tie your efforts to the outcome, then the journey won’t seem quite as bad.

 

Posted in Buying.