Buying a home is a major financial undertaking, so much so that a growing number of Americans are struggling to meet that milestone.
1. Rework your budget
You might think its hard to save money , but if you're willing to take a long, hard look at your budget, you'll probably come to find that there are some expenses you can manage to cut.
2. Get a side hustle
If you're willing to put in the time, that second gig could help you save some serious cash.
3. Consider the suburbs
4. Boost your credit score
Though having a strong credit score won't help you come up with a down payment, it will help you qualify for the best possible mortgage rate available, thus making the prospect of homeownership more affordable on the whole.
5. Tap your IRA
Though this should only be used as a last resort, if you're really having a hard time saving for a home but are tired of throwing out money on rent, you have the option to remove up to $10,000 from an existing IRA in order to purchase your first home.