1) Be smart with your money – Never live above your means. Cut down on things you don’t need to buy. For instance, substitute high end brands for cheaper ones as long as it serves the same purpose as what you are willing to achieve and whatever you save on buying a cheaper version put into your home savings. Shop at discount stores.

2) Intentionally take out money from your monthly earnings¬† – Don’t wait until you have spent your monthly income before taking a percentage aside for housing. Save as soon as you get paid. The tendency to never save is inevitable if this doesn’t become a constant practice.

3) Use smaller cars – Decide that your family will use low maintenance cars. A car is a depreciating asset and not only does it depreciate over time, it costs a whole lot of money to run. Insurance, registration, maintenance, and petrol all cost money. If you can live with one car instead of two then you could sell one of your cars and put the money you make into your home savings. Go for a cheaper or second hand car if you can live without an expensive option. You can always upgrade after you have bought your own home.

4)¬† Create a second income for yourself – Don’t depend solely on one source of income. Look for multiple channels to generate extra income.
There are several ways to go about this. You can live off your primary income and save what you make from your extra income. Learn a new skill / trade and put it into use.

5) Spend money on non-depreciating assets – More often than not we are tempted to spend on things where their value disappears in a short while. Buy items that you can resell after a period of time e.g good furniture, antiques, art, etc.

6) Lower your current rent and save the difference – Live in temporary discomfort and pay the price to live in your dream home. Instead of living in duplex, move to a flat or a cheaper apartment for the time
being and add the difference you saved on the duplex to your home savings.

7) Encourage spouse to be a part of the saving process – There’s always the bread winner in every family who usually does the budget and organizes the way money is spent. Much as that is not a problem, the time spent on saving by one person can be shortened and quicker if you drive the project of getting a new home as a team. No matter how
little,  get your spouse on track and encourage them to save towards buying your new home.

Finally, when it comes to buying your dream house, ensure that you shop for the best prices in the real estate market and negotiate for the best deal.