For many of us, having a home can be a dream come true. Especially a dream because the cost of buying a home is huge, especially buying where you can easily reach. Apart from those challenges, it is very possible to keep the process going and achieve your dreams of having your own home.

After identifying where you want to buy, you need to look at how to increase the deposit, which usually includes a percentage of total costs, attorney fees, stamp duty and transfer fee. If you buy in installments, some of that amount can be paid late, but you still need to come up with a deposit amount. Sometimes you may end up dealing with an agent who charges all the other charges and will pay the agreed amount in addition to the hidden costs.

Don’t be discouraged by the prices you need to pay less. There is plenty of good news that some have done successfully.

Having the right mindset is very important, without you, you will not be able to do it easily. Fear not, follow some or all of the following ideas, keep your eye on the prize.

1. Reduce other costs such as purchases

Keep track of your expenses for 3 months, keeping track of all small and large expenses, including purchase costs, travel, supermarket shopping, green market purchases, and even street vendor expenses. Once you have your 3-month report, check your monthly expenses with a thick lens to eliminate all unnecessary expenses. Continue to create a soft, meaningful monthly budget and stick to it.

2. Rent a cheap house right now.

Do you really need to live in 3 bedrooms, where you can comfortably fit in 2 bedrooms? Do you have to live in that expensive place? See how much you can save by lowering or lowering where you live.

3. Get down your car

For many, driving a good car can be a real boost to their self-esteem, as well as a good massage of their self-esteem. It gives the impression that you have “arrived”. But remember that the car you love the most, will one day be an old trash. So why not leave it at that for a moment, move on to a low-maintenance car and eventually get back on track once you have achieved your goal of owning a home.

4. Create a second hustle

Add your savings using the “side hustle”. Without further ado, choose a career that will not put you in “conflict of interest” with your current job (No need to risk losing your current job). There are many opportunities. Try to enter one that you can easily and without further study, or that may take several years to reap the benefits.

5.   Involve your partner

As a married couple, if your spouse is present, it will make it much easier to raise that low income. At least he can contribute to reducing costs, and at best, he can contribute to the savings pot.

6. Consider affordability of the property.

If you still don’t see the possibility of saving for the home you really want and dream of, consider searching online or asking friends which real estate company offers the best deal you can afford over time. Go for the most affordable property to avoid too much investing and yet you still have a house to build.

For instance land for sale in Nakuru, a new city in Kenya have the cheapest properties while convient to city residence.

Other ideas

• Set aside any company bonuses.
• Save your temporary money on the stock market to reduce the temptation to enter it at any “emerging expense”.
• Ask the seller to provide you with a convenient payment method for your deposit.

Be aware that you may be overreacting to what you really need to start your journey home. Calculate how much you really need to save.

Mark Pereira