If you’re getting ready to buy a home, you may be worried about things like student loans and credit scores, which can feel overwhelming. By taking simple steps like setting up a budget and working to pay off other debt, you could own a home even quicker than you think.
By a Budget
If you feel like you’re asking yourself where your money has gone every month, chances are, you aren’t sticking to a written budget. Setting up a budget guarantees that every dollar you make is given a purpose. Once this budget is in place, you’ll be able to start directing your money toward necessary expenses. By doing this, you’ll quickly realize just how much you’re spending on things like going out to eat or personal recreation. By balancing out your budget, you’ll be able to spread your income further.
Deal with Debt
When you’re getting ready to save for a home, knocking out your other debts first will help you save exponentially faster. Think about it like this: if you have a minimum $500 student loan monthly payment, putting everything you can find into that debt will allow you to free up all of that extra money plus the $500, which you can in turn put towards any other debt or your savings for a down payment.
Make Your Move
Now that you’ve got a handle on what to do with your money, it’s time to meet other like-minded individuals who have the same goal. Check out Lennar’s Make Your Move workshop on financially preparing for homeownership on March 10th. The “OWN your Finances and Your Home” event will include a social happy hour so you can meet other young professionals in Tampa Bay, and a panel of experts will be there to discuss key insights on budgeting, special programs for first time home buyers, the home loan process and how to truly own your finances. From the first budget you make to the first time you unlock your new home, Lennar’s innovative Make Your Move program will be with you every step of your homebuying journey. For dynamic events featuring an expert panel and an opportunity to speak with other young professionals going through the same journey, be sure to check out the Make Your Move workshop series.
