How do you save for a house?

Work hard and save as much money you make.

God it seems as though everytime I feel close to being able to save for one, something happens and then things just take a diffrent direction. It's' really difficult these days, specially the way prices for everything are ridiculously high. I mean are we going to work just for a house? My little cousin just started her university which is $38,000/year. So my question is, does one just work a whole year to send their child to school? So how about the homes, the taxes, the car payments, the groceries? I think this is why there's so many houses being repoed and homes being on sale, because people just can't afford it these days. That just scares me!

Hi Ejobsuccess! I am also like you, I am considering myself to be in real estate, but then I have no idea. All I know is that you should have a capital and that you know what you are doing. As of now, I don't have any work yet, I am still looking for one, so hopefully when I have a job already, then that's the time that I will look to be in real estate. You can save if you want to, and wishing you luck of having your own house soon.

Hi Ejobsuccess! I feel for you. I really do. It can be so hard to save for that first home. You might try checking into local banks or other government programs that offer special incentives for first time home buyers. They are hard to find, but not impossible, depending on where you live. In today's society, it's easy to get wrapped up in a "got to have it now" attitude. And, that makes it almost impossible to save money or be happy with your current situation. And, when you look at the total amount of down payment that you will need it can be truly discouraging. However, if you start putting away small amounts of money weekly from your salary, you will eventually have a nice nest egg. Cut expenses where-ever possible. Don't look at the big picture or you'll get depressed. Just look at the amount you have saved. Who is to say that home prices won't go down in the next five years? Or, maybe you could use your savings to obtain an advanced degree or education that would give you a bigger monthly salary. And, then you would automatically be able to afford better housing. How about that idea?Perhaps you could find a home in another district, state or even country where prices are much lower. Currently, my spouse and I are living in an area where home prices are far too expensive. But, just two states away home prices are less than one third what they are here. Needless to say, when it comes time to buy our next home or upgrade we will be moving out of state! For us, it's the only sensible solution.