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Posted by MDM Realty, Inc on 8/4/2020

Saving for a down payment on a home is a long process that requires discipline and organization. But we all know that with so many other things going on in our lives it can be hard to spend enough time focusing on your budget.

Fortunately, there are several tools available to soon-to-be homeowners who want to keep track of their spending and make sure they meet their down payment goals. In this article, we’re going to talk about some of the best budgeting apps, websites, and other tools to help you keep yourself accountable so you can be living in your new home as soon as possible.

Why budget for a down payment?

If you’ve saved money in the past for a purchase without a budget you might be wondering why you should go through the effort of creating one now.

However, there are many reasons to have a budget, especially if you’re planning on making an investment as large as a home. Here are just a few:

  • Keeping an accurate budget will let you know almost exactly how much you can expect to save for a down payment

  • Budgeting helps you locate and cut out expenses that would be better used in your savings account

  • Budgeting will give you peace of mind along the road to saving for your down payment

Now that we’ve talked about the importance of making a budget, let’s talk about some of the best ways to get it done.

YNAB

You Need a Budget, often shortened to YNAB, is one of the most useful tools for learning about and creating a budget. I don’t know about you, but I was never formally taught how to budget in school. But, it would have been a useful class to have!

YNAB combines budgeting tools with educational materials to help you save while you learn more about managing money. It can be easy to feel lost when it comes to learning about personal finance--that’s what makes YNAB so great.

Their basic precept is that you “give every dollar a job,” meaning there won’t be any money in any of your accounts or in your paycheck that doesn’t have a purpose. That doesn’t mean you can’t spend money on yourself every once in awhile, just that you’ll have planned ahead for moments so you can manage them.

You Need A Budget is available for Apple, Android, on Alexa and in your browser.

Saving with your spouse

Planning a budget yourself is complicated as it is. But planning together with a spouse can be even more confusing. However, there are ways to effectively make a family budget to save for a down payment.

First, you should both make sure you have individual budgets to make sure you know how much money from each of your incomes can go into savings. Opening a joint savings account and having a certain percentage of your paycheck direct deposited into that account is a good place to start.


From there, monitor your savings for a month to see if you need to alter this number, and try to stick to your monthly savings goal.




Tags: budgeting   down payment  
Categories: Uncategorized  


Posted by MDM Realty, Inc on 8/1/2020

This Single-Family in Yarmouth, MA recently sold for $385,000. This Ranch style home was sold by - MDM Realty, Inc.


2 Kencomsett Cir, Yarmouth, MA 02675

Single-Family

$385,000
Price
$385,000
Sale Price

5
Rooms
2
Beds
1/2
Full/Half Baths
Look No Further! You have found your Cape Cod home. When you first arrive, you will notice the lovely landscaping & beautiful condition of the home. Entering the home it feels so inviting with the open entry area leading to your kitchen with beautiful granite counter tops, a breakfast bar as well as a dining area with slider leading to the deck and private backyard. Refinished hardwood floor throughout. Large living room with fireplace, two large bedrooms, one with private 1/2 bath an additional full bath both with granite counter tops. First floor laundry. Full dry basement with cedar closet and 1/2 bath and room for expansion. Updated Items Include Electric, Heating system and hot water tank, All Harvey Windows, Added Generator, Appliances and the list goes on.

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Categories: Sold Homes  


Posted by MDM Realty, Inc on 7/31/2020

This Single-Family in Framingham, MA recently sold for $431,500. This Ranch style home was sold by - MDM Realty, Inc.


5 Brookfield Cir, Framingham, MA 01701

Single-Family

$425,000
Price
$431,500
Sale Price

7
Rooms
3
Beds
1
Baths
Absolutely immaculate updated 3 bedroom ranch located in a quiet northside neighborhood. Location has easy access to the pike and route 9 for many different commuter routes. House is meticulously maintained and has a beautiful bright and sunny renovated kitchen, Complete with White wood cabinetry, stainless appliances, a nice sized island and granite counter tops. Living room has a centrally focused wood fireplace, wood flooring and large picture window for added sunlight. Renovated bathroom with tiled tub and shower, pedestal sink and tile flooring. 3 bedrooms all have laminate flooring and also beautiful light. Backyard is fenced in with flat yard and has a patio and fire pit. Nothing to do but move right on in!

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Categories: Sold Homes  


Posted by MDM Realty, Inc on 7/31/2020


11 Treasure Way, Ashland, MA 01721

Condo

$339,900
Price

5
Rooms
2
Beds
1/1
Full/Half Baths
It's all about the location! Pine Lakes is a wonderful development located right off of Route 135 in Ashland where you can enjoy nice walks, Ashland State Park and a quick drive to shopping and restaurants. The commuter rail is an easy bike ride, 3 minute drive or a brisk walk away. As you enter the property via stairs to the first floor, you are welcomed by an expansive covered porch to enjoy outdoor living. You will then proceed inside of this 2 bedroom/2.5 bath condominium which is awaiting your personal touches and updates. The first floor is where you will find the fireplaced living room, dining room area and eat in kitchen with banquette nook. The second floor hosts 2 large bedrooms with a full bath off of each. The master has plenty of closet space while the attached bath has a tiled shower and separate tub. The lower level is finished and great for office space or gym. Don't miss out on getting in to the town of Ashland and all that it has to offer
Open House
No scheduled Open Houses

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Tags: Real-Estate   01721   Ashland   Condo  
Categories: New Homes  


Posted by MDM Realty, Inc on 7/30/2020

This Single-Family in Shrewsbury, MA recently sold for $397,500. This Colonial style home was sold by - MDM Realty, Inc.


30 Walnut St, Shrewsbury, MA 01545

Single-Family

$397,500
Price
$397,500
Sale Price

7
Rooms
3
Beds
2
Baths
GREAT LOCATION, GREAT TOWN!! This charming 3 bedroom/2 bath/2 story property has a prime location in Shrewsbury and is waiting for your updates and personal touches. Located In a friendly neighborhood with an easy walk to Dean Park and Ward Hill Ski Area, this home is a 5 minute drive to Northboro Crossing and a 10 minute drive to the Westboro MBTA. Built solidly in 1911 this New England farmhouse style home has many improvements including a 7'x 21' three-season porch, renovated 2nd floor bath, newly paved driveway, detached 2 car garage and spacious shed. The spacious 2/3 acre yard boasts mature trees and many plantings. Full basement and walk-up attic offer storage galore.

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Categories: Sold Homes