HUD Articles

Steps to Saving for a Down Payment on a House

I’m a real estate agent in the Washington DC area where the median home price is about $500,000.  The area is also home to a large number of millennials.  Unfortunately, most millennials have a hard time purchasing homes in the area because of the high prices.  I’ve come to realize that millennials could do more when it comes to saving their income and purchasing homes.  Ryan Fitzgerald lays out great steps to save for a down payment on a house.  One of the steps he mentions is creating an automatic savings plan, which I believe is a brilliant plan for millennials. They typically struggle with saving, so an automatic savings plan is a perfect strategy to save money.

This is a great article to share with anyone struggling to save for a house down payment.

Source: Realtytimes.com