6 Ways to Save for a Down Payment When Trying to Buy Santa Cruz Homes for Sale

Posted by Lauren Spencer on Sunday, August 9th, 2009 at 6:19am.

Preparing to buy Santa Cruz homes for sale can cause much excitement. But before you start daydreaming about all the possibilities, you need to concentrate on ways to save for a down payment.

First, pay off debt

One of the best ways to save for a house is to get out of debt first. From credit cards to personal loans, if you're still sending more of your money out of the house than you're keeping in, you need to make a point to significantly cut debt.

Get an extra job

Although not glamorous, another job will put money in your pocket to help you buy Santa Cruz homes for sale. Just make sure when you see the fruit of your labor, you set it aside as a down payment for your new home.

Hold a garage sale

Got clothes you're not wearing? What about that CD player you never use? Holding a garage sale is an excellent way to quickly rake in cash. Some people make hundreds of dollars!

Seek professional help

Even though putting 20% down is ideal, there are many available plans to assist you in coming up with a down payment. Depending on your situation, your down payment could be significantly less.  Talk with your real estate agent or a trusted mortgage provider to get professional advice.

Get a promotion

While this may seem like an odd way to save for a down payment, it's very practical. Have you helped save your company a lot of money? Did you work especially hard on a big project? Don't let all your talents go to waste. It can't hurt you to simply ask for a raise.

Use your tax refund

Instead of buying a new television or washer and dryer set, use your tax refund toward a down payment on your home.

With a bit of effort and focus, before you know it, you'll have your down payment and be on your way to owning your own home.

If you're thinking of buying, now's the time to start working with a professional real estate agent.  I can recommend a mortgage provider who will help you get the financing that best fits your needs.  I can also help you find Santa Cruz homes for sale that fit your budget and criteria.  Give me a call today at 831.662.6522 or email me at lauren@laurenspencer.com



Get out of debt

Garage sale

Ask for a raise

About Lauren Spencer

Award-Winning Santa Cruz REALTOR®

Lauren Spencer is your local real estate expert, specializing in Santa Cruz real estate and surrounding communities—this is where she lives, works, and plays too. Let her know your questions about the community and county and she'll be happy to fill you in on all you want to know! Lauren Spencer has consistently been voted best local REALTOR in Santa Cruz and is always happy to offer her advice and expertise. Call her at: 800.226.4717.

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