Luxury Homeowner Dreams? 4 Tips for Building up Your Finances to Reach Your Goal
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You’ve spent too many years living in a home that’s not up to your high standards. You’ve sacrificed luxury for affordability, and it’s time to make a change.
In this article, we’ll show you how it’s possible to start building up your finances to finally afford the luxury home of your dreams.
Freelance During Your Free Time
If you’re like most Americans, you probably work eight hours a day, five days a week. That leaves eight more hours left over every day when you’re not sleeping, and two full days, to do anything you want.
How do you spend the majority of your free time? Is it wasted or put to good use?
If you’re serious about buying a luxury home but can’t find that elusive six-figure job, it’s time to take on a side gig. What skills and talents do you have that you could use to make a side income as a freelancer? Sites like UpWork, Freelancer and Fiverr are full of freelance opportunities in a variety of fields.
Take a look at these sites, then decide what service you’re able to offer in your off-hours. You could bring in a couple thousand extra bucks each month that can be set aside for your luxury home purchase.
Build up your finances by using your free time to drive for Lyft, Uber, DoorDash or others. Even if you only work a few hours each night, you can earn hundreds of extra dollars each week by doing nothing but driving.
Do this on a regular basis and your luxury home could be only a few years away.
Avoid Wasting Money
Would you believe that the average American spends over $3,000 each year dining out? While it’s nice to treat yourself to a nice restaurant once in a while, you’re probably wasting a lot of money on dining out when you could just as easily cook your own food.
Put the money you save from ending the habit directly into your luxury home account every month. It’ll stack up quickly.
Sell Your Current Home
If you’re looking to get on the fast track toward the purchase of one of your favorite luxury homes, sell your current house and find an inexpensive place to rent for awhile.
Then, take the sales profits you make and the money you save every month by renting, and put it into your luxury account. While you may need to live further below your standards for some time, remember this is about achieving the end result.
With these four tips, you’ll be well on your way toward luxury homeownership. Enjoy the journey.
Emma Sturgis is a freelance writer based out of Boston, MA. She writes most often on health and education. When not writing, she enjoys reading and watching film noir. Say hi on Twitter @EmmaSturgis2
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