How to Save Money When Buying a House

It’s getting harder and harder to afford a home. So if homeownership seems out of reach, don’t despair. There are ways to soften the blow and save money when buying a house.

House Hack

Bringing in a little extra with your house can enable you to live with a reduced mortgage or even possibly mortgage free, pay off your mortgage early, or eventually.

Please don’t do this, especially if you’re a first-time buyer without a solid emergency fund. You never know what might be wrong with a house.

Don’t Skip an Inspection

Interest rates can skyrocket just as your rate is up for adjustment, and you may be stuck paying thousands of dollars more than you expected for your loan.

Opt for a Fixed Rate Mortgage

There are FHA loans, VA loans, conventional loans, and various programs designed to help first-time home buyers.

Shop for Loans

Buy in Cash

Bringing a cash offer to the table will not only give you a leg up while bidding, but it will also save you tons of money on interest and closing fees.

Avoid Fancy Gimmicks

Do you really need a jacuzzi, a double shower, or two ovens? These add ons sure are nice, but they can also increase the sale price of a home by far more than they are worth.

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Money Saved Is Money Earned!