Buying a home is a big step and it’s easy to be daunted by the large sums of money involved. With careful budgeting, saving for your first home is made much easier.
Saving money for your first home may seem daunting, but you have a lot of help and advice available to you.
Affinity’s expert tips are here to help you save for your first property. The more you save now, the easier it will be to afford and pay off your home in the long term.
Buying your first home is exciting and life-changing; saving for your first home is a little less fun.
Accordingly, you should make the process as easy for yourself as possible, starting with the deposit.
The more money you put down upfront, the less you’ll have to borrow. Here are some tips to help you put together the largest deposit possible when you buy.
Once you have enough money for a deposit on a home, you will still need to continue to build your savings. Not only will you have to make monthly repayments on your mortgage, but you will also need to account for unforeseen expenses like property repair.
Having a sizeable amount of money saved away is a wise financial decision, as it gives you the peace of mind to know you are insulated from financial emergencies.
But how much should you save? Affinity has 3 expert tips to help determine how much to save for a house deposit and beyond.