Buying a home requires meticulous planning. Whether you’re saving for your own home or assisting your children onto the property ladder, obtaining the best advice is crucial.
Most people aspire to homeownership, but soaring prices can make this seem unattainable. However, with a sound, savings-based financial plan, accumulating the necessary funds for a deposit and securing your dream home is possible.
Over the past decade, house prices have escalated. If your ideal home’s value is €200,000 today, it might significantly increase in five years. If you’re only saving on deposit, you might fall behind your house deposit goals.
Bank deposits are often considered safe but pose a challenge when saving for significant milestones like buying a house. Especially with today’s low-interest rates, your money might not grow fast enough.
Your savings strategy depends on your monthly saving capacity. Start by determining your deposit amount, the time you have for your savings to grow, and the financial vehicles that best serve your objectives.
Consider an investment bond or a regular savings plan with an investment provider like MBC Financial. Money doesn’t grow on trees, but it can grow when you save and invest wisely.
You don’t need to be a financial genius to save for your goals. Use our budget calculator to determine your saving capacity. Our budget spreadsheet will also help you manage your income and expenses effectively