Home - Additional Money Saving Articles
October 2007 Money Saving Tips
November 2007 Ways To Save Money
December 2007 Money Saving Blog
Jan-Feb 2008 Down Payment Savings
March 2008 Down Payment Tips
April 2008 Down Payment Info
May 2008 Mortgage Down Payment
"Save money for your mortgage down payment by reading our money saving tips and articles."
©iStockphoto.com – MarsBars
December 14, 2008
Don't Rush Into Buying Your First House
It's really great being in our new home as the holidays approach. What a great time of year to enjoy our new home, after
spending several years saving for our down payment. In retrospect, the entire six month long home buying journey, although
extremely stressful at the time, was completely worth it. Today, I'll be writing the fourth installment in our home buying
journey, an impulsive offer we made after getting discouraged with the first three offers not working out. The key lesson: Please,
do not rush into buying your first home.
It's a long and difficult process. It took us around 6 months to
finally own our first house, and that's after spending years saving for our house mortgage down payment. We got
really lucky that the seller did not accept our impulse offer in this particular case and I really hope you can learn from our
home buying journey so your personal journey goes a little smoother, with less stress than ours. Happy holidays and new year,
I wish you the best in 2009 and may it be a great year of saving money for your house.
November 15, 2008
Home Buying Tip: Get An Appraisal
We're finally settled in our new home and got our final furniture delivery last week. We are still unpacking boxes, but
can finally sit back, relax, and focus on living again. Today I'm excited to write the third installment in our
home buying journey. Whether you're ready to buy your first home or are in the down payment savings phase, it's
the perfect time to educate yourself so you can become a savvy home buyer in this turbulent market. Today I will discuss a wild
experience, an experience where we thank goodness that we got an appraisal before removing contingencies from this particular offer.
The appraisal showed us that the seller's reported square footage was 10% higher than reality. If we had bought that home,
we would not only have less space than we need but also would have taken an instant loss in equity because value
and price are heavily driven by actual square footage of the home. Check out my personal story where
our home appraisal saved us thousands.
October 26, 2008
Buying Your First Home? Considering a Short Sale?
I've been super busy the last month moving into my new home with my fiancee. After years of saving our down payment,
we are now enjoying the results of our hard work. If we can do it, you can too! In my last post, I started a new section
on this site all about my personal home buying journey. Our home
buying journey has been a very long educational experience. The hope here is that our story can save you time and
stress. Today's article is all about my
short sale experience. I would say without a doubt
that this experience was by far the most stressful of the entire home buying journey. We got our hearts set on a short sale
but the entire deal fell through after much hard work and patience. At least we learned a lot. Please make sure to check
out this article if you are saving your down payment or are ready to buy your first home, I truly hope my experience can help
you out. Good luck!
September 21, 2008
From Saving My Down Payment To Buying My First Home
Hello! My fiancee and I are closing escrow on our first condo, how exciting! We will soon be homeowners. The experience
has been stressful and challenging and we have been working really hard for the last three months to make our dreams a
reality. I'm so happy that our efforts paid off and the dream will be realized. Moreover, I'm so happy I have been
through this experience for the benefit of this website. Before buying my first condo, I was certain that saving money
for my down payment would be the most challenging aspect of home ownership. I actually still think this is the case.
However, I was not prepared for everything involved in the home buying experience, another very challenging component
of the entire process. I'm excited to be documenting
my home buying journey to hopefully make your own home buying
experience a little bit easier with less stress.
My first article documents our experience attempting to
buy a new construction condo. Buying
a brand new construction condo should be simple, right? What could be wrong with something brand new, we had thought.
We ended up learning that a lot can go wrong. If you are considering buying a new construction condo or house,
definitely check out this article so you can look out for the pitfalls that ended up breaking the deal for us.
September 4, 2008
Buying Our First House - So Many Lessons Learned
I'm proud to announce that I have officially saved up my down payment and am in the process of purchasing my
first house (actually a
You may have noticed the frequency of updates to this site has decreased over the last
month and it's not because I don't want to write, but because I have been absolutely consumed with the home buying
process. I had absolutely no idea how tricky and involved it can be, especially here in the San Francisco Bay Area. My
fiancee and I have already tried to buy several condos without luck so far. We are determined to get a great place at
a great price and remain super optimistic about living the American dream in our new home. The great news in this
whole experience is I have learned more about real estate, mortgages, home buying, and "street savvy" than I
ever imagined possible. The result: I will be starting a series of articles all about my home buying process. I'll start
out with the new construction condo that we had to pass on because the inspection came back with major problems. Next,
I'll dive into the short sale that turned into a nightmare where we lost out to a higher bidder by only $1,000 even though
we were willing to go higher (very shady stuff going on with this deal). Then, I've got more fun stuff and we're not
done yet so there will probably be even more lessons learned. Really looking forward to sharing some of our very
difficult experiences to save you some of the time and stress we have been through, making your personal home buying
experience a breeze! One thing is for sure: Once we have our place, we are never moving.
August 10, 2008
Using The Internet To Research Your First House - Saving Money For Repairs & Furniture
Recently, we published two articles about "using the Internet" to your advantage in
researching your first house and
planning for your first home loan.
Today, I'm very excited to be rounding out this series with the third and final article on leveraging the Internet for research:
using the Internet to research repairs
on your first home. I'm especially excited about this article because it illustrates a point that is very easy to forget
about. In saving for your house, it's not only about the down payment and closing costs. It's also important to save
up for repairs, moving expenses, and furniture. While saving up your down payment, you'll want to keep this in mind. At the same
time, I'm a true believer that a home is a great investment and asset. Furniture, however, is not an investment. My theory is
that it makes the most sense to buy your house sooner rather than later and accumulate furniture one piece at a time.
However, you'll definitely want to pick up a few pieces right away and make sure to save up some extra money.
July 28, 2008
Saving Your Down Payment Fund In A High Yield Savings Account
This site would not be complete without a discussion of high yield savings accounts. I'm a proponent of saving most of my personal
down payment fund in high yield savings accounts. Why? I expect to buy a house shortly and do not want to be subject to the volatility of
the stock market and other non-FDIC insured investment vehicles. Have you seen the stock market lately? It has been brutal. A lot of
companies are facing hard times. The last thing I need to worry about is seeing my hard earned down payment fund that I will need very
shortly disappear. Consequently,
high yield FDIC insured savings accounts
are the perfect place to store your down payment fund while earning interest. Don't get me wrong, I love the stock market and it
has been my hobby for years. Once I have bought my house and start looking toward building up a long term investment portfolio, I will
definitely primarily invest in stocks again.
July 13, 2008
Using The Internet To Research Your First Home & Mortgage While Saving Your Down Payment
The Internet offers a plethora of information about down payments, buying your first home, and mortgages. Your time is limited and
how do you decide which sites to visit? Let us do the difficult work for you! This week, we're excited to offer two new articles all about
using the Internet to research your 1st home and
researching your home loan on the Internet.
With so many options available, we help you sort through them and present some of the top websites for people saving for their first house.
You're saving up your down payment. It's the best possible time to leverage the Internet for your research.
June 14, 2008
Save Money With The Help Of A Mentor & Saving On Your Rent
Hello everyone! I'm excited today to have two great new articles all about saving money for your 1st house down payment.
There are a lot of wise people out there. I'm always asking mentors in my life for advice, mostly about my career
and also saving money for my first house. Our first new article today is about
saving money with the help of a mentor.
Our second article is about
reducing the cost of your monthly rent. If
your situation is anything like mine, I'm sure you're sick and tired of throwing money away on rent. The goal of this
article is to offer tips on making short term sacrifices for long term results. Downsize your rent expenditures today and
you will own your first house sooner! Remember, long term financial success requires some short term sacrifices to save up
your down payment.