Recently we've been talking to younger people who want to buy a home but feel the down payment for the house will have to come from their parents. The issue here is now the parents want to control what kind of house to buy and where the house will be purchased and WHEN it will be purchased. Sometimes the parents and their children don't agree on this issue. So, if you want to buy a home without using your parent's money, consider these 5 strategies:
1. Save it. First locate banks or savings institutions that offer higher savings interest rates. Focus on your goal. To buy a $200,000 house may require thousands of dollars, plus extra closing costs. You'll need extra money in reserves. Put aside a few hundred dollars per month and you may have enough money in just a couple of years. (Seller's may contribute to your loan closing costs which means you don't have to raise as much cash). P.S. There are new super-low down payment loans now available. You may not need to save up as much cash as in years past. Call us for more information. 2. Sell something. One of my clients sold his Harley Davidson motorcycle to raise the down payment. He said it was well worth it! How about garage sales or selling items on ebay? 3. Get an extra job. There are plenty of things you can do to earn extra money. For amazing ideas, read the book, 1,000 Ways to Earn Money at http://www.RocketBusinessSolution.com click on item #9. It's the best book I've ever read on this subject. 4. Ask your OTHER relatives for gift money. You'd may be surprised to find how many of them believe that home ownership is a worthy goal and will give you free money toward your down payment. 5. Raid your retirement account. Some retirement accounts permit you to liquidate or borrow money for the purposes of a down payment toward a home purchase. Check with your retirement plan administrator. Remember you can do some or ALL of the above! Need coaching to create a buying strategy? Call us today. Or you can read free informational buyer reports at the website below.
1. Save it. First locate banks or savings institutions that offer higher savings interest rates. Focus on your goal. To buy a $200,000 house may require thousands of dollars, plus extra closing costs. You'll need extra money in reserves. Put aside a few hundred dollars per month and you may have enough money in just a couple of years. (Seller's may contribute to your loan closing costs which means you don't have to raise as much cash). P.S. There are new super-low down payment loans now available. You may not need to save up as much cash as in years past. Call us for more information. 2. Sell something. One of my clients sold his Harley Davidson motorcycle to raise the down payment. He said it was well worth it! How about garage sales or selling items on ebay? 3. Get an extra job. There are plenty of things you can do to earn extra money. For amazing ideas, read the book, 1,000 Ways to Earn Money at http://www.RocketBusinessSolution.com click on item #9. It's the best book I've ever read on this subject. 4. Ask your OTHER relatives for gift money. You'd may be surprised to find how many of them believe that home ownership is a worthy goal and will give you free money toward your down payment. 5. Raid your retirement account. Some retirement accounts permit you to liquidate or borrow money for the purposes of a down payment toward a home purchase. Check with your retirement plan administrator. Remember you can do some or ALL of the above! Need coaching to create a buying strategy? Call us today. Or you can read free informational buyer reports at the website below.
David Jurewicz, Broker 00661096
Home Rocket Real Estate(r)
(916) 682-6454 Toll FREE: (800) 601-7653
http://www.HomeRocketRealty.com
Home Rocket Real Estate(r)
(916) 682-6454 Toll FREE: (800) 601-7653
http://www.HomeRocketRealty.com
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