How to start saving for your dream home

May 17, 2023

Buying a home is likely one of the costliest things you’ll invest in during your lifetime. And with that in mind, it’s never too early to start saving. It’s the milestone almost everyone wants to achieve one day and especially if you can secure your dream property.

When you finally reach this goal, you’ll be forever thankful to your past self for sticking by it. Here’s how you can start the saving process.

Improving your credit score is the natural first step

One of the first hurdles to face is having a sufficient credit score. Many may not think about this until it’s too late, so try to take action sooner rather than later. There are many ways to improve your credit score, and you should choose the options most fitting to your current financial situation.

For example, if you pay rent, you could make sure you log this so that you have it as evidence in your credit history. Mortgage lenders want to see evidence that you can pay back any money you’ve borrowed.

Switch providers to save on bills

The perceived hassle of changing providers is preventing many people from getting the best price on their household bills. Take the time to see whether you can save on your bills by moving elsewhere.

This can include energy, Wi-Fi and mobile providers. Don’t forget other frequent expenditures such as the gym.

Consider moving back in with your parents temporarily

While it may feel like taking a step backward, there shouldn’t be any shame when choosing to move back in with parents to save money. In fact, it’s a lot more common than you might think.

Rental prices are soaring, making it extremely difficult to save. Often, the option to rent somewhere cheaper in another location leads to increased costs in other areas, such as having to commute or having less amenities on your doorstep.

Create a budget to reduce unplanned expenses

Unexpected costs crop up far too often, whether it’s a work social or a spontaneous day trip. While you should still embrace going out and enjoying a social life, it’s sensible to have a budget in place for these expenses. With a budget in place, it will help you tweak your spending habits.

By syphoning off your spending on leisure, it means you can consistently put a proportion of your income towards your future house.

Set a realistic long-term plan

Stay on track by setting a long-term plan that’s achievable. Overly optimistic plans that aren’t attainable will only leave you feeling deflated, so be honest with yourself while creating it.

Remember, the deposit isn’t the only cost you’ll need to save for. Consider solicitor fees, mortgage repayments and possible renovations to fine-tune your dream home. Keep this in mind, but remember that you still need to live your life in the meantime. Work out how much you can realistically save each month to achieve this.


I believe in making the impossible possible because there’s no fun in giving up. Travel, design, fashion and current trends in the field of industrial construction are topics that I enjoy writing about.

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