How to Save for a House: From Costs to Budgeting Tips

How to Save for a House: From Costs to Budgeting Tips

Buying a home takes a significant amount of preparation. The most time-consuming task in the process, however, is often determining how to save for a house. The expenses buyers incur while moving can add up, making it very important to plan ahead. From the initial large investment of a down payment and closing costs to monthly interest and fees associated with homebuying, proper budgeting can help make the process much smoother.

But how much should you save for a down payment, exactly? And what other costs should you factor in? Most real estate professionals recommend a down payment that is 20% or more of the total house price. Anything less than this will require you to pay private mortgage insurance (PMI)—an extra cost added to your monthly payment that does not go towards paying off your mortgage.

While there are several expenses buyers must consider when purchasing a new home, new homeowners can also take advantage of tax deductions and credits. These include mortgage interest credit, property tax deductions and much more. All in all, it truly is a numbers game.  

Saving for a home does not have to break the bank, though. Explore the major costs you should expect to cover during the process along with some simple tips for starting your savings plan to help you get the keys to your dream home faster!

Understanding how to save for a house is the first step toward moving into your dream home. Now it is time to discover what your price point can get you! Explore and compare available Perry Homes’ properties in some of Texas’ most desirable communities to find the perfect home for your unique lifestyle.

Everything you need to know about how to save for a
house, from making a budget and cutting back on daily
expenses to the deductions and credits that can help you
afford your dream home.

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How to Save for a House: From Costs to Budgeting Tips

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