Ways to Prioritize Homeownership in the New Year
1. Set a savings goal : Start by figuring out how much you need for a down payment. Whether it is saving for 3%, 5%, or even 20% down, having a clear target will help you stay focused and motivated.
2. Improve your credit score : A good credit score can open up more financing options with better interest rates. Take steps now to improve your score by paying down debt, setting up automatic payments, and checking for errors on your credit report.
3. Create a budget : Establish a budget that includes your rent, utilities, groceries, and savings for a down payment. Knowing where your money goes each month will help you plan and save more effectively. Ready to take the first step towards home ownership? This is your year!
