Saving up a deposit for your first home is more of a marathon than a sprint, with the average UK first home buyer saving for six years if saving in a couple, and 11 years if single. Here are six ways to stay motivated for the long haul of saving to become a homeowner.
1. Keep an eye on real estate listings in your desired area.
This will help you stay motivated in a number of ways. Firstly, it’s something to browse during breaks at work that doesn’t lead to online shopping (keep away from the ASOS new in page!). Secondly, it will keep you focused on what you want. Thirdly, it will keep you in touch with the market and enable you to hone in on exactly how much you need to save to buy the kind of property you want.
2. Create a Home Pinterest board.
Sure, you may not be able to afford some of the dream houses you pin with the beautiful high ceilings and ceiling to floor glass windows, but this keeps properties and home ownership at the front of your mind.
3. Read blogs and articles on homes, house renovation and decor.
Some of my favourites are Apartment Therapy, Daily Dream Decor, My Scandinavian Home and French by Design.
4. Search Youtube for home tours
Binge on watching tours of other people’s homes. Then visualise yourself giving people a tour of your own home once you’ve purchased it (um, whether on Youtube or to actual guests).
5. Chunk your overall savings goal down into an obtainable monthly amount.
Focusing on saving say, 50,000 pounds is a bit overwhelming. Setting an obtainable monthly amount you can save to get there is a lot more motivating and it makes what you need to put aside to have that deposit one day clear.
6. Think, “it may take awhile, but that time will pass anyway.”
Saving a house deposit is no easy task. Its understandable to be put off by thoughts of how long it will take. What’s the point, right? But no matter how long it takes, that time will pass anyway! You may as well be working towards your goals because sooner or later that day will come, you don’t want to not have a house deposit in six years time simply because it was going to take you that long to save it up and you got discouraged.
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