3 Easy Ways to Save for a Down Payment

User Not Found
Getting ready to dive into the world of home ownership? Then you’re probably looking closely at your budget and bank account. One of the best ways to save money, when buying a home is to stash away as much money down as possible, so that you can avoid PMI and reduce your loan amount.

Here are some ways you might be able to squeeze a little bit more money out of your budget and save big over the next year.


If you’re addicted to a little caffeine in the morning, we won’t judge you. But, it’s financially smart to not drive to Starbucks for your morning cup of joe. Home-brewing your coffee could actually save you over $550 a year vs. going to coffee shop.


The average consumer will pay around $1,200/year on cable…that’s a lot. Think about streaming your TV shows from an online streaming provider and you could save around over $1,000/year. That’s some serious mullah.


The average gym membership costs around $480/year…working out at home is free. There’s a $480 savings right there, unless you need to invest in some workout equipment, which could pay for itself within a year or so.

Over a 5-year period, by doing the things above – you could save over $10,000 – which is a significant chunk of money that could be applied to your down payment.

If you’ve gone down this road and have some tips for our readers, please leave a comment below.

And, as always — we have SIRVA Mortgage associates on standby ready to answer any questions that you might have about your next adventure – just call 800-531-3837.