7 Ways for Kenai Home Buyers to Save Money For a Big Down Payment

7 Ways for Kenai Home Buyers to Save Money For a Big Down Payment

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Down PaymentTo buy a Kenai house a buyer must have their finances in order.  They need to budget, see how much room they have in their budget for a mortgage, and start saving for a down payment.  

Piecing together a large down payment can be a daunting task.  Especially, if the buyer is trying to put up to twenty percent down.  

Even though it may be a long road there are many ways to start saving more money to get the biggest down payment possible.


When thinking about budgeting many people think about the big items.   However, they do not track the small expenses that they have on a daily basis.  

Review each day’s spending habits and track every cent spent.  It is surprising how quickly spending a few dollars a day can add up.

Decide What is Important

Look at the monthly spending habits that have been tracked.  Find any items that are costing too much money. As this spending report is reviewed decide what items are important – like paying a utility bill – and what items are unnecessary – like buying a snack on the way to work every day.  

Making a Goal

The ultimate goal is to have a down payment for a Kenai house.  However, it is scary to think about needing thousands of dollars.  Instead of thinking about the end goal, set small monthly, quarterly, or yearly goals.  It is much more realistic to have a monthly goal of saving two hundred dollars versus thinking about the entire down payment as the goal.

New Savings Account

Do not keep down payment savings in the account that is used all the time.  It will be too easy to spend the money. Get a new savings account. Put money into it frequently but do not look at it as a way to pay for anything besides the new house.  Not being able to see the money in the account while looking at the regular checking account is going to help a buyer not think about the money sitting there.

Automatic Payments

Depending on the bank, there are ways to set automatic payments into a savings account.  Setting up an automatic transfer every time a check is deposited will make it so much easier to save.  The buyer will never see the money in their account and the bank will automatically send the selected amount into the savings account each paycheck.

Save Any Extra Income

Do not spend birthday money, Christmas money, or that tax refund.  Any and all extra sources of income should go straight into the savings account.  This will help to raise the amount being saved without straining a person’s budget.


Saving for a Kenai down payment is not going to be something a person does in a month or even a year.  Investing that savings account into account that can make money is a smart idea for someone who is thinking of buying a Kenai house in the future.  Using accounts like a certificate of deposit or even a money market account can help to gain profit from that savings.

No one should leap onto the Kenai real estate market without having a down payment saved.  The down payment is an important part of buying a house. Saving can be difficult with many problems or struggles presenting themselves every day.  This means that a potential Kenai homeowner is going to have to work hard to make sure their down payment account has money being deposited and saved until they are ready to buy a house.  

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