The #1 Reason It Is Difficult to Find Your Dream HomeThe headlines in real estate today all revolve around one major point: there is a shortage of homes available for sale. Price appreciation
How To Purchase A 250000 Home In Two Years
How to purchase a $250,000 home in two years
Two years was enough time for a couple to be ready and in position to purchase their own $250,000 dream home in Kissimmee. In two years’ time, the couple saved enough money for the down payment and improved their credit score to a point that financing was flawless and never presented any issues.
It is very important to keep in mind the amount of money the couple earned in a year. The combined household income was approximately $60,000 a year.
This is a real life example and in my opinion, if this couple was able to stop paying rent and starting accumulating wealth, then any other couple can do it as well. I will share the steps the couple took in order to achieve their dream.
The couple made the decision that they will start saving money. This is the most important step they took in order to purchase their home. They decided to save $500 month.
After making this important decision, the couple then worked on a monthly budget. The goal was to not over spend in groceries. In addition, they stopped going to the restaurant and they started to cook homemade meals; taking leftovers for lunch.
They also stopped using their credit cards and pay down the balance on almost all of them. This improved their credit score tremendously.
They met with a Realtor and worked on the plan to purchase a home. They wanted to purchase a home in Orlando but the price range for the house they wanted was above $250,000 for a resale when in Kissimmee the house they wanted was brand new for $250,000 and the builder paid more than $16,000 in closing costs.
The last step was to pay a penalty when they broke their rental contract with an apartment complex. They this knowing they will start creating new memories in their own place.
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