How Do You Save Up for Your Dream House in Cebu?
The idea of owning a dream house seems so far away. With prices ranging far beyond the reach of your current bank account, it’s almost impossible to obtain. Or… is it?
The impossible becomes possible with the right approach. In case you aren’t aware, there are many great value house and lots in Cebu. You just need to commit to your end goal. To help you get started, here are a few hacks:
1. Estimate expenses.
You don’t need to drop the full fee in a lump sum. But, you will need enough money for the deposit. Take a rain check. Compare how much funds you require against the amount you already have on hand.
Now, aside from taking care of the deposit, you should also practice paying a mortgage. Save an amount monthly from your salary. Work your way up little by little. Before you know it, you’re already a proud homeowner living in one of the pocket subdivisions in Cebu.
2. Involve the whole family.
Who said owning a dream house has to be a one-man job? Buying your dream house is always a team effort. Think about it! Even though you’re the breadwinner of your family, you will need everyone’s help to save on expenses.
Talk to your loved ones about a plan of action. The more united you are with the decision, the easier it is to save for your dream house.
3. Find ways to improve your income.
Do you feel discouraged because your baseline salary is a bit low? Don’t lose hope! There are many ways in which you can earn more money. You can start a sideline gig, a business, or even offer up your skills and talents online. Once you put your mind into it, it’s doable.Do you feel discouraged because your baseline salary is a bit low? Don’t lose hope! There are many ways in which you can earn more money. You can start a sideline gig, a business, or even offer up your skills and talents online. Once you put your mind into it, it’s doable.
Now, before you jump into money-making projects, you should consider:
- The amount of income you want to earn monthly.
- The competitiveness of the work industry.
- The time you are willing to spend on the business/gig.
- The degree of skills you have.
You’re the person who knows yourself best. Identify your limits and work with them. Don’t forget to give yourself time to rest as well! It prevents burnout and helps you stay laser-focused on your goal to buy your own home.
4. Free up your expenses.
Take a look at your utility bills monthly. It’s quite a lot, isn’t it? Do you think you can trim it down a bit? With the right mindset, you can. A couple of actionable things you can do include:Take a look at your utility bills monthly. It’s quite a lot, isn’t it? Do you think you can trim it down a bit? With the right mindset, you can. A couple of actionable things you can do include:
- Signing up for a cheaper internet plan
- Saving on your phone bill
- Postponing to upgrade your gadgets
- Turning off appliances when not being used
- Limiting the number of times you eat out
These habits may seem insignificant from the start. But, the money you are able to set aside stack up over time. As a bonus tip, you can also invest your acquired savings. That way, your money grows while you continue saving for your dream house!
5. Make use of your first home.
Everything you own is an asset that can be used to fund your dream house. This includes not just your liquidated assets, but, your current property too.
How do you make it happen? Well, there are certain banks that offer home equity loans. Through these, you can borrow money against the price of your first home. Pretty handy, right? If you want your dream home to be in one of the pocket subdivisions in Cebu, contact us. We’re here to help you invest in your future today.
Share this post with your family and friends. They might be interested in becoming a homeowner just like you.