Purchasing a new home from Cornerstone Communities doesn’t just have to be a dream. With a little determination and planning, one of our beautiful homes may be within your reach. If you are saving for that all-important down payment, here are some tips to putting together a helpful budget to get you closer to your goal!

Set a target. If a new home is your end game, then determine exactly how much money you need to save for the exact home you want. If it’s a new construction home, visit the models often to keep reminding you of what you’re reaching for!

Determine all potential income sources. Not only are your individual or combined salaries important, but also consider other sources of income. This can be financial gifts from family, stock sales, extra money you can make on the side or large items you could sell for an injection of cash.

Track how you spend. Using a spreadsheet and a good honest look at your spending habits, track your fixed expenses like certain utility bills, car payments or insurance, and most importantly, those areas where you have control over how much you spend. An example of this could be dining, clothing, trips, some utilities like electric, etc.

Make adjustments. Once you determine your flexible spending costs, you should prioritize your needs and wants. Remember that once you meet your ultimate goal (a new house!), you can slowly go back to enjoying the items or activities you had to take a break from.

Check your plan often. Be sure to review your budget regularly to make sure you’re on the right track and to see if you need to make any necessary adjustments.

If you are continuing your search for a new home, please know Cornerstone Communities is still building homes throughout the county of San Diego and Temecula. To see our homes, we are offering virtual tours on our website, you can chat with us online or we can schedule a private in-person appointment with you.