#13: The #1 tactic I used to save up for a house
One of the biggest challenges that first time home buyers face is saving up for a house - also known as a down payment. This is usually a percentage that first time home buyers must pay before they can close on their homes.
The percentages can be as low as 3% for first time home buyers, but if that is 3% of a 300,000 home – that can feel very overwhelming and nearly impossible. This is how I felt when I first started my home buying journey which is why I want to share the #1 tactic that I used to boost my savings up – and that is a high-yield savings account (HYSS).
My HYSS allowed me to save passively, meaning that I didn’t have to trade my time for money. Every month, the money in that account accrued interest automatically and it still does. Learn more about what these are, how I’ve been able to save, and how they beat traditional savings accounts.
I will also discuss another savings tactic for those who aren’t looking to buy within the next year.
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Podcast: Real Estate Prep:
https://www.maximizedmoney.com/episodes (available on all streaming platforms)
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https://www.maximizedmoney.com/homebuyers-checklist
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