The Smart First-Time Home Buying Guide

How to Save for a Home Down Payment with Limited Money

By: Thomas.K Lutz

Narrated by: Michael Campobasso

Home prices are too high.

Buying a home is the pinnacle of adulthood, but as we all aware, home ownership isn’t exactly easy to navigate, especially for younger folks. Unless you’re completely debt-free, get help from parents, and disciplined enough to live below your means to save money, buying your first home in the future can seem more like a fantasy than an actual possibility.

In The First Time Home Buying Guide, we will be mainly focus on why and how to save up our money to have the down payment for our first home purchase, so we can be prepared when there is a home buying opportunity in the future.

What is a down payment?

A down payment is a big sum of money you need when buying a home. You may borrow money from the bank in the form of a home loan or mortgage, but a portion of the total cost must come directly from you. The down payment acts as an insurance of sorts for your lender.

It is not just about how to save, but why you should save.

As we all know, there’s a correlation between inflation and home prices. If we don’t save up now, the global home price will slowly keep going up. Now is the time to be prepared and save up, so when there’s home price correction underway, you will have the purchasing power to own a home.

The truth is that we all know how to save, but most of us are not aware of the reason why we need to save, and that becomes problematic. In this book, we will go in depth on this topic. We will also be sharing unique ways to save up for a down payment and ways to save a lot faster than an average person.

This is what you are about to discover:

• Why is saving so important in general?
• Why is it important to own your home, rather than rent?
• Budgeting and keeping track of your spending
• Extreme ways to save fast
• The important things you should know before buying a home

Would you like to know more?

Don't gamble on the future.

©2018 Thomas.K.Lutz (P)2019 Thomas.K.Lutz

Most people won’t sacrifice

I think saving for any sort of down payment on a home will require sacrifice. It's a lot of money. The easiest way to cut back is the best way to save. And that's eliminating small purchases that have become habitual but likely provide relatively little value to your life. Cut down on things like eating out, premium coffees, shopping for things you don’t immediately need. Great audiobook on how to save. Recommended.

Great book

I used the dream list to come up with my list of housing requirements. While I found the list difficult to use while looking at houses because it's long, it was still valuable to do the exercise so I had the right things in mind.

Home Buying Guide

The book is an easy-user-friendly read that helps prepare and guide your through the housing process from beginning to end. Thanks to this book, my home buying process has been less stressful and more realistic.

A sensible home-buying guide.

This so makes sense! Sacrifice on other parts like you don’t have to rent first. Yes, there are downsides as the author has mentioned, but if the effect is greater than your sacrifice, it’s so worth it, right?

Helpful Guide

To be honest, it’s quite hard to save right now for most people. Everything is inflating, because of the pandemic. I am lucky that can stay with my parents, so I can save a bigger portion compare to others. Love this~ thanks Thomas!