Want to buy a home in 2015?

Is buying a new home part of your New Year’s resolutions?

Excellent! There are a few things to consider and important things to do before you move into your new house. First step? Put together a down payment.

Have you set up a household budget? Do you have a budget, but you’re finding it hard to delegate extra cash to your house savings? Start figuring out your financial situation, which will be set the foundation for your house-hunting adventures.

Set a budget

If you haven’t yet, set a budget for your household spending. Sit down with your spouse or partner to review your bills and expenses, and create a practical, mutually agreed upon budget that gives you enough room to cover your expenses and makes space to send some of your hard-earned cash into savings.

There are a ton of great free resources – blogs, websites and smartphone apps – to make budgeting even easier. We recommend looking at Gail Vaz-Oxlade’s website. (You may recognize her from her TV shows and bestselling books.) She’s a smart, no-nonsense “money maven” who’s driven to get people to take control of their money and their lives.

Vaz-Oxlade provides plenty of free resources including a budget worksheet that you can use online or download to use in an Excel worksheet. As well, there’s great information about managing money, getting out of debt, and developing a strong foundation of savings. Between Vaz-Oxlade’s website and blog, you’ll be well-equipped to create a smart budget and set aside money to save up for your down payment.

Rework your spending

Do you have a budget, but find it hard to scrounge up extra cash to set aside for a down payment?

Take a look at how you’re spending your money. Are there some things that you could give up? Are there ways that you can make extra money over and above your regular work income?

There are tons of blogs with tips on saving money through DIYs, couponing, hunting down deals, consigning old clothes, and more. Find out what works best for you and your family. Here are a couple of places to start:

• Canadian Living’s favourite money-saving blogs
• Topmommyblogs.com’s blogs about saving money
• Top 50 frugality blogs
• The Non-Consumer Advocate

Find creative ways to get your entire family engaged in saving money. Maybe instead of going out to dinner, you can have a living room picnic. Substitute pizza delivery for a homemade one and put the cash saved into your down payment fund.

Get creative with how you and your family can make a couple extra bucks for your new house. It’s easy to do without sacrificing what you need.

Email today for your personal buyer information package at office@eximus.com