- Get a roommate. Splitting your rent and other monthly bills will let you save more money each month.
- If you already have a roommate, spouse, or significant other, considering relocating to a building with lower rent or downsizing to a smaller unit.
- How close are your parents? The idea might not seem appealing, but a few months of rent-free housing could allow you to save enough for a down payment.
- Make a lower down payment and finance more of the home’s purchase price.
It’s a never ending cycle. You have to pay rent, so you can’t save much for a house. You can’t stop paying rent because you can’t afford a house. You have several options to help you break the cycle and budget for a home.