Saving money to buy a home in South Florida

Saving Money to buy a homeYou have decided to buy a home in South Florida, but you are afraid about not having enough money to make the Real Estate transaction.

Relax, you don't always need 20 percent of the home value for the down payment. If you are determined to buy a home, let's say a home that is priced $280,000, the down payment could be only 5 percent of it. That would be $14,000. This means that you should save about $1,200 or so every month in one year, unless you have already started the saving process a year ago.

In other words, anyone determined to purchase a property must count with some money into a savings account unless you can receive the money to make the down payment as gift from a relative.  Either way, it's always significant to save at least something on your own and no matter if it is less than the entire 20 percent stipulated for the down payment.

Your Real Estate Agent will guide you during the entire home buying process. You can start searching for a home as well as evaluating how much home you can afford by using BLUE ONE Realty mortgage calculators.


Tips to save money for the down payment

Tips to save money for the down paymentYou have dreamed with buying a home in South Florida for a long time. Now, it’s time for you to wake up and start making your home dream a reality. Buying a home is the greatest decision in your life so you need to be prepared.

Here are some useful tips to save money for the down payment.

Saving money always reduces costs to the minimum.  Save as much as you can for the down payment, so you can get away from paying a second mortgage to make the down payment. Saving money also gives you the chance to reduce financing costs such as the mortgage insurance charge.

The more money you can save, the more lenders will like you. Why? Just because you need to qualify for a mortgage loan. Your credit history and your employment situation must be worthy. Saving gives you the security you need to walk into financing at the less possible risk.

Do not spend unnecessary money and reduce your spending to the minimum.

Take the saving process seriously and think that every penny counts. Look at yourself and become a South Florida homeowner with the simple act of saving as much as you can to make a reality the dream of purchasing a property.

Think about getting a second part-time job at home and save the entire payment for your home purchase. Stop eating out at fine dining restaurants. Also, keep in mind that  unexpected situations such as an illness, losing a job or any other critical moment can knock on your door during your home saving process. So, it is recommendable to pay cash your shops and keep one credit card to cover unexpected situations.

Look up at your closet, basement and garage, you will realize that numerous items are not in use and won’t be, so consider them for sale and save that money for your home purchase. Congratulations! You will become a South Florida homeowner soon

Contact Us

Fill this form so we can responde to your questions


Home for Sale in FloridaBLUE ONE Realty offers the Home for sale in Florida section to fulfill your expectations about what really involves homeownership in Florida State. Home for sale in Florida counts with instructive articles related to location, property search, home buying process, home buying tips and more. It doesn't matter if you are a first time homebuyer or an experienced home investor. BLUE ONE Realty provides the right tools for you to succeed throughout the entire home buying process by educating you with the best possible ways to buy a home in Florida as well as preparing yourself to write an offer to buy a home in Florida State. Home for sale in Florida


Mortgage Rates and ToolsBLUE ONE Realty provides this Florida Mortgage Rates and Mortgage Caculator section to keep you informed and trained with articles related to different types of mortgage loan programs to buy a home. There are different types of mortgage programs and that's why BLUE ONE Realty decided to create this section to alert and help you with weekly articles. If you are determined to buy a home in South Florida, you definitively must be qualified and get-approved for a mortgage loan as well as getting your financial situation in good standing. Florida Mortgage Articles and Mortgage Caculator


Mortgage Rates and ToolsBLUE ONE Realty offers a Florida Real Estate section for you to learn more about real estate in Florida whether you are a first time homebuyer, home investor or want to sell a property. Florida Real Estate will keep you updated with specific articles about the Florida real estate market. The purpose of this Florida Real Estate section is to make you feel secure about the decisions you will be taking when doing a Real Estate transaction now or in the near future. BLUE ONE Realty provides high quality guidance to everyone interested in buying Real Estate in Florida. Florida Real Estate

Real Estate Glossary

Understanding is the main theme of all professions and careers. Real Estate is not the exception and in this section you will find all the technical words and daily used words within the market but in a more comprehensible language. Real Estate Glossary

Sell Your Home

By visiting this section you can be informed about the home selling process and for how much your home should be valued and more…! - Sell your Home in Florida

Become an Agent

Becoming a BLUE ONE Realty Agent is one of the best decisions you will make in your Real Estate careers, and as we all know, in Real Estate as in Life is all about making good decisions... - Become a Real Estate Agent

About Us

BLUE ONE Realty is a lot more than a Real Estate company. We are a team of professionals who know how important and stressful buying or selling a home could be... - About BLUE ONE Realty