Saving For a Home
by Carla Hill
With home affordability at the highest rate seen in decades, now is prime time to make a purchase.
The key to buying in today's market is having the funds and financial stability needed. How can you go about saving to buy a home?Many renters are wanting to turn over a new leaf by investing in a starter home. Current homeowners are wanting to take advantage of low prices and buy the home of their dreams.
Financial wiz Suze Orman tells her readers and viewers all the time about the benefits of homeownership, but also the importance of being financially ready for this move. She writes, "Never buy a home or piece of real estate if you do not have at least 10% to 20% to put down. While buying a home is a great investment, if you do not have at least 10% to 20% of the purchase price to put down, then you can't afford the home and are buying before you have demonstrated the ability to save, which is a bad idea in the current market."
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The key to buying in today's market is having the funds and financial stability needed. How can you go about saving to buy a home?Many renters are wanting to turn over a new leaf by investing in a starter home. Current homeowners are wanting to take advantage of low prices and buy the home of their dreams.
Financial wiz Suze Orman tells her readers and viewers all the time about the benefits of homeownership, but also the importance of being financially ready for this move. She writes, "Never buy a home or piece of real estate if you do not have at least 10% to 20% to put down. While buying a home is a great investment, if you do not have at least 10% to 20% of the purchase price to put down, then you can't afford the home and are buying before you have demonstrated the ability to save, which is a bad idea in the current market."
Click here for full article
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