How Do I Save For A House?

How do I save for a house? The answer is simple. It’s the same way you would save for almost anything else in your life, even if you don’t have the specific item in mind. Some people call saving for a home an “emergency fund”, some call it “being smart with my money”, and some just don’t know how to save money at all. 


No matter what you like to call it, saving for a house is actually very simple. Whether your dream home is a condo, a townhouse, or something more (like a house), it’s still a lot easier than you think to save.


Here are some tips on how to get started:


Set up a budget.

Setting up a budget is the first step towards saving for a house. Whether you are paying rent or own your home, having a clear idea of how much money you bring in and what goes out will help you determine how large of a mortgage payment you can afford.


The easiest way to set up a budget is through your bank, where most have free tools that make it simple to track your spending and finances. Most banks allow users to set up multiple accounts within one account, so it’s easy to keep track of all income sources in one place (such as checking and savings) while allowing each account holder (like yourself or an adult child) access only their own information at any given time.


Cut out non-essentials.

Cutting out your non-essentials is a good way to start saving. You might be surprised at how much money you can save by doing the following things:


  • Cut out your Starbucks habit and get coffee from home instead. This will save you anywhere from $1 per day ($30 per month) to $100 per week ($400 per month).
  • Buy clothes used or wait until they’re on sale at your favorite store before buying them new.
  • Don’t eat out as much and cook more at home, which will save roughly $5-$10 per meal for two people (depending on where you go). That adds up quickly!

Get a second job or sell stuff that you don’t need.

There are a few ways to make extra money, including:

  • Selling stuff you don’t need
  • Getting a second job
  • Working extra hours at your current job or getting promoted
  • Getting a part-time job


If you have time and energy to spare, starting a side business can be really rewarding.


Buy grocery items in bulk.

When you buy groceries in bulk, you don’t need to worry about running out of a specific item. If you get your favorite fruit juice on sale and have a coupon for it, then grab it! It may be cheaper than buying smaller containers at the supermarket.


If there is any way that you can save money by buying in bulk, take advantage of it! If there’s no way for you to get a discount or use coupons on something like paper towels or dish soap, then skip this tip.


Settle for less in other areas of your life.


You can save for a house by cutting back on other things.


  • Reduce your spending on entertainment. Don’t go to the movies or concerts as often, and watch TV from your own home instead of paying per month for cable. If you splurge on live music or sports tickets, consider buying those tickets instead of going out to eat.
  • Spend less money at restaurants and bars—go out for lunch instead of dinner, or cook at home rather than eating out every night (and check out meal prep kits that make it easy!)
  • Buy clothes online instead of shopping in stores—you’ll find better deals online without having to leave your house! And don’t bother with designer labels; they’re overpriced anyway! 


Figure out how much house you can afford.

The first step to buying a house is figuring out how much you can afford.


To get started, you’ll need to calculate your monthly income and figure out how much of that income you can put toward a down payment. Then, you’ll need to decide on a loan type, mortgage rate, and amortization period. The last part will help determine how long it will take for all of your principal payments to be made—and whether or not this timeline works for you. If the timeline isn’t right for you or if the amount of money required for closing costs has risen above what’s available from savings accounts and other sources (like gifts from family), then maybe waiting until later when more funds are available would be better than purchasing now when finances could get tight at any moment due an emergency expense coming up unexpectedly during those first few years after moving into home ownership!


Save up before you start house hunting.


Before you start looking for a house, it is important to save up at least 5% of the price of the home you want to buy. This will allow you to pay a down payment on your first home and secure financing.


If you don’t have enough saved up, consider buying less expensive properties until you can save more money. It’s better to buy a cheaper property that meets your needs than end up in financial distress because of unexpected costs or an inflated mortgage payment.


It’s also wise to be prepared for when you find that perfect home with features that are above and beyond what was originally listed – such as granite countertops instead of laminate ones in the kitchen, dual master suites instead of one shared room between two bedrooms, etc. These upgrades often cost extra money but may be worth it if they make living there feel more like home (and less like just another rental). 


Shop smart when looking for homes.

  • Shop smart. Get pre-approved for a mortgage before you start looking at homes. This will help you determine what homes are within your price range, as well as how much of a down payment you’ll need to make on the house. It also makes it easier to narrow down your options as you search for properties that meet all of your needs.
  • Look for resale value in every home that catches your eye, even if it’s not perfect—a few cosmetic fixes can make an old house look brand new!
  • Make sure the property is in good condition overall—you want to save money on repairs later on when the time comes to move into it or sell it again.
  • Think about what amenities are important to you: Do they have enough storage space? Is there enough natural light coming through windows? Are there enough bedrooms and bathrooms? Would these features be useful if I wanted another roommate later on down the line?


Saving for a house is difficult work, but it can be done if you set your mind to it and are creative.

Saving for a house is difficult work. It takes time, patience and discipline to set aside money every month. But if you’re willing to put in the hard work, you can make it happen in no time at all!


The first step is figuring out what you want and need: Start by asking yourself these four questions:

  • What am I saving for?
  • How much do I want or need?
  • How long will it take me to save up this amount?
  • What are my options for saving/investing this amount of money?


Angel Message Advice

I hear you’re saving money for a house. That’s awesome! I’m so happy to see you’re taking steps to make your dream home a reality.


Here’s the thing: sometimes we think of the future as something that’s far away, but it’s actually right on top of us.


The future is now. When you put your money in the bank, that money is going to start working for you right away—whether or not you can use it yet. So don’t forget about it! You’ve got some savings in there, and it will keep growing over time. It’s just like planting seeds in the ground for plants that will grow later on—you have to take care of those seeds now so they’ll be ready when you want them.


I know that sometimes it can feel like a lot of work to save up for things like houses or cars or vacations—but trust me: when those things are yours, they’ll be worth every minute of patience and perseverance it took to get them!


Prayer for Manifestation


Dear Angels in Heaven,


I pray for the ability to manifest saving money for a house.


I ask that you help me find ways to save money and not spend it.


Give me ideas on what I can do in order to save money.


Break down the barriers that are preventing me from saving money.


Help me be in a mindset where I am looking out for ways to save money instead of spending it.


Thank you answering my prayer today!