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Saving money for the down payment on a home can feel daunting. In fact, saving the necessary funds to buy a house may feel darn close to impossible as the lion’s share of your money each month is spent on bills and expenses. We suspect that with a lot of determination and little creativity, most of us can find ways to put away more money.  These are 4 ways to boost your house down-payment fund, and one extra “fun” way to put a little extra cash in your pocket.

Negotiate Your Rent

Although this may not apply in your specific area, with interest rates so low, more people are buying homes. In some select areas that could cause landlords to scramble to find tenants to fill their units. Talk to your landlord or management company. Sign an extended lease at a reduced payment. Put the extra money into your “house account.”

Look at Student Loans

If you’re drowning in student loans, you’re not alone. If you haven’t yet, consider refinancing or consolidating those loans as doing so can lower your monthly payment. Check an online calculator to find out if the new income-based repayment program on federal loans will benefit you.

Reorganize Spending

Cutting three trips to Starbucks a week will put an extra $13-$15 in your pocket. Getting rid of a gym membership you haven’t used in a year is not only sensible, but it will give you at least $360 extra towards your down payment after one year.

For a little extra cash… Throw a Garage Sale

How about all that junk that you’ve been holding onto for no good reason; you know… the stuff you would not wear or use in a million years? Someone else is going to think it’s absolutely awesome and want to pay you for the opportunity to own it themselves. A garage sale is a quick and easy way to clean your closets, garage, basement and storage unit while giving a boost to your savings account.

At Jenn Blake Real Estate Group we know how hard you work for you money. Isn’t it time to let your money work for you? When you’re ready to look for a home, contact us!  Jenn Blake Real Estate Group at 858.663.6788.