4 Things You Should Do Today If You’re Hoping to Buy a House This Year
If you’re looking to buy a home in 2022, you already know that you’re plunging into a turbocharged housing market. A shortage of homes for sale has pushed prices higher and higher.
The median home price climbed to about $350,000 as of late 2021 — an annual increase of nearly 15%, according to the National Association of Realtors.
Things are expected to slow down a little in 2022 due to an expected rise in interest rates. But if you want to buy your own home, you’ll need to be smart and strategic about it. Consider these six tips:
1. Get Paid Every Time You Buy Toilet Paper
To save up that down payment, you’re going to want to find new ways to save money on everything else. For example, groceries account for a good chunk of your budget. Everybody’s got to eat. You may as well earn a little money back while your groceries are being bagged up.
A free app called Fetch Rewards will reward you with gift cards just for buying toilet paper and more than 250 other items at the grocery store.
Here’s how it works: After you’ve downloaded the app, just take a picture of your receipt showing you purchased an item from one of the brands listed in Fetch. For your efforts, you’ll earn gift cards to places like Amazon or Walmart.
You can download the free Fetch Rewards app here to start getting free gift cards. Over a million people already have, so they must be onto something.
2. Stop Overpaying for Stuff Online
Here’s another way to save money. Wouldn’t it be nice if you got an alert any time you’re shopping on Amazon or Walmart.com and you’re about to get ripped off?
That’s exactly what this free service does.
Just add it to your browser for free, and before you check out, it’ll check other websites, including Walmart, eBay and others to see if your item is available for cheaper. Plus, you can get coupon codes, set up price-drop alerts and even see the item’s price history.
Let’s say you’re shopping for a new pair of shoes, and you assume you’ve found the best price. Here’s when you’ll get a pop up letting you know if that exact pair of shoes is available elsewhere for cheaper. If there are any available coupon codes, they’ll also automatically be applied to your order.
In the last year, this has saved people $160 million. You can get started in just a few clicks to see if you’re overpaying online.
3. Knock $610/Year From Your Car Insurance in Minutes
When it comes to saving up for a down payment, cutting your other bills can make a huge difference. So when’s the last time you checked car insurance prices?
You should shop your options every six months or so — it could save you some serious money. But don’t waste your time hopping around to different insurance companies looking for a better deal.
Use a website called EverQuote to see all your options at once.
EverQuote is the largest online marketplace for insurance in the US, so you’ll get the top options from more than 175 different carriers handed right to you.
Take a couple of minutes to answer some questions about yourself and your driving record. With this information, EverQuote will be able to give you the top recommendations for car insurance. In just a few minutes, you could save up to $610 a year.
4. Stop Paying Your Credit Card Company
Getting a mortgage for a house is a form of debt. But credit card debt is the most expensive kind of debt there is, and your credit card company is just getting rich by ripping you off with high interest rates. However, a website called AmOne can help you fight back.
If you owe your credit card companies $100,000 or less, AmOne will match you with a low-interest loan you can use to pay off every single one of your balances.
The benefit? You’ll be left with one bill to pay each month. And because personal loans have lower interest rates (AmOne rates start at 6.40% APR), you’ll get out of debt that much faster. Plus: No credit card payment this month.
It takes two minutes to see if you qualify for up to $100,000 online. You do need to give AmOne a real phone number in order to qualify, but don’t worry — they won’t spam you with phone calls.
Buying a home is a major step in life. If you follow these strategies, you’ll get closer to your goal.
Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder. He’s a homeowner.
