Recently, Redfin asked our advisors to think of creative solutions to help first-time homebuyers save for their down payment. Visit the Redfin blog to hear what our very own advisor Angela Smith, CFP®, had to say as well as tips from other experts.
As a bonus, here are two additional tips from our advisors on how to save for a down payment:
- “Save your bonus, raise or tax refund. Instead of using these windfalls for a big-ticket purchase, save them for a down payment.” – Shelby Clements, CPA, CFP®
- “Sell or rent stuff you don’t use. Clothes, furniture, electronics, specialty equipment and other goods you rarely use could be sold or rented to earn savings for a down payment.” – Ashley Kilgust, CFP® & Janie Richards, CFP®