6 Tips for Speeding Up Your First Rancho Cucamonga Home Purchase (Rancho Cucamonga, CA)

6 Tips for Speeding Up Your First Rancho Cucamonga Home Purchase

DiNoto Realty Group 909-921-2544 www.DiNotoRealtyGroup.com 6 Tips for Speeding Up Your First Rancho Cucamonga Home Purchase For Rancho Cucamonga renters who are beginning to investigate the possibility of buying a first home the prospect can look like more than just a steep hill to climb it can look more like a cliff Just last month the Daily Real Estate News cited recent research that indicates in most places (512 counties surveyed in fact) it can take the average family more than twelve years to save up for a 20% down payment. When you consider the significant financial advantage that a first house brings its Ramcho Cucamonga owner the situation seems like a Catch-22. How can you save any faster when that big tax advantage goes only to the existing homeowners If a decade-plus wait sounds unreasonable there s a lot you can do to trim the delay 1) (Obvious) Cut excess spending If you take notes for a month or so about how you really spend your money you find that the little things really add up morning coffee daily lunches planned and unplanned shopping expeditions all put serious dents in your wallet. Spot the expenditures you can cut back on then reduce or eliminate them as soon as possible. 2) (Less Obvious) Create a First House account Create a separate savings account with the single purpose of holding your first house down payment. Watching it grow month by month will more than make up for the inconveniences caused by scrimping on daily and other spending. 3) (Way Less Obvious) Pick up extra work You may never have considered it but sometimes moonlighting is a great way to add additional income that quickly build your First House account. If you have a hobby that lends itself to web sales think of starting a store on sites like Etsy or Amazon. 4) Reduce your current bills There are those bills that you can t quite get rid of -- cell phone credit cards and other bills don t just go away because you re saving for a new Rancho Cucamonga house. For some bills though there are options for slimming down your monthly payments. Try negotiating a lower APR or reducing your phone or cable plan. 5) Make (and stick to) a budget Those notes you made up there on 1) can be the raw material for making a detailed budget that separates necessary expenditures from extras like gifts trips and special nights out. Find creative ways to entertain yourself and get together with your friends. Hosting movie nights finding free concerts and moving cocktail hour to home are all surprisingly doable. 6) Downsize It may seem counter intuitive why would you decrease the size of your current digs If you can temporarily scale back the lowered rent can materially boost your savings. If it s at all practical living with relatives might move the process along even more quickly The kind of scaling back that builds for a local first house down payment is a lot more fun if you can see quick progress. And the possibility of qualifying for a smaller than 20% down payment is also currently increasing. If you are ready to start your Rancho Cucamonga ( or surrounding area) home search please check out out website and set up your FREE account to search ACTIVE HOME INVENTORY www.DiNotoRealtyGroup.com 909-921-2544 We look forward to connecting with you soon DiNoto Realty Group 909-921-2544 www.DiNotoRealtyGroup.com CalBRE 01804308 Rancho Cucamonga Real Estate Services Equity Listings Standard Listings Short Sale Listings Trustee Sale Listings Probate Sale Listings Investor Listings First Time Home Buyer Relocation Vacation Homes Second Homes REO Sales Have A Home To Sell Get Your FREE Market Evaluation Here To Start Your Rancho Cucamonga Home Search Click Here Keller Williams Realty Each office independently owned and operated. All information deemed reliable but not guaranteed.