Would you like to become a homeowner within the next year or so? If you've set this goal for yourself, there are ways that you can start working on reaching that goal. You simply need to start saving while figuring out what kind of home you can afford.

Start Saving for Your Down Payment

When you are buying a home, you do not need to pay the full amount of the home's value in one lump sum; however, you do need to put a down payment on the home. The amount of the down payment depends on the cost of the home and the specific loan you are using to pay for the property. For example, those looking to buy properties often need to put down around 20 percent of the actual cost of the home, but this percentage may be drastically reduced for you if you are getting an FHA loan, a type of loan that is typically offered to people with a credit score of at least 500.

The goal is to start saving as much as you possibly can right now. Start deducting your expenses from your income and then set aside a percentage of what is left. You can put that extra money into a savings account and watch as it grows. In just a few months, you could end up with the exact amount you need to have for your down payment on the home you want to purchase.

Start Figuring Out Exactly What You Can Afford

You need to know what you can afford to spend on a home before you start shopping around. While you may have a vision of living in a beautiful home with dozens of bedrooms, multiple bathrooms, and all the amenities you could possibly want, you also need to think realistically and stay within your means. If you choose a home based on the way it looks and are not paying much attention to the cost, you could end up paying way too much for your mortgage each month. Always remember that the mortgage payments are often much lower on homes that are more affordable. You will need to do the math with your earnings and living expenses to figure out what you can afford.

Work With a Real Estate Agent

Searching for homes for sale is often harder when you try to do it alone. Find a real estate agent who can talk to you about your budget and the amount of money you are looking to spend on a property before finding several ideal matches for you to check out. The real estate agent could help you find an amazing home for sale that is right within your budget.

If you want to buy a home, you need to start saving for that down payment, figure out what you can afford, and then let a real estate agent help you on your journey to finally getting a home you love. The process can take some time, but you will feel great about it when you have the keys to your new place.