3 Ways To Make Extra Money For Your Home's Down Payment

If one of your plans for the new year is to buy a home, you probably already know you will need a down payment. While you may have some money saved, it doesn't hurt to have some extra cash to throw at your down payment. If you are unable to get a second job, consider some other ways to generate extra income. The following are some easy money-making methods that will help you add to your down payment:

Have a Community Garage Sale

This is a great time of year to organize a community-wide garage sale. As the weather begins to warm up and people begin to purge their homes for the spring season, it can be easy to get your neighbors on board with a big community sale. Go through your home room by room and collect the things that you no longer need or use. Do not pre-judge anything you want to put in the sale. What you may think is not useful to anyone may be just the item someone else is looking for.

Consider Alternative Transportation

If you want to save some extra money to put towards your down payment, you may want to use alternative transportation to save on vehicle costs. With springtime approaching, now is a beautiful time of year to walk or bike to where you need to go. You can also save on your gym membership by getting some extra exercise!

You can also use public transportation. Bus fare is often much less costly than gasoline for the car every day. You will also save on your car maintenance, such as oil changes, brake work, and the like.

Start a Side Hustle

Starting your own side hustle to make some extra money is getting very trendy and can be quite lucrative. In fact, some people do so well with their side hustles that they turn them into a full time job. Think of something that you can do that would be valuable to someone else. Chances are, someone will be willing to pay you for your services. Some examples include tutoring, art lessons, building websites, freelance writing, baking, or any other services that you can think of.

These are only a few examples of ways you can earn extra cash to put towards a down payment on a home for sale. The smallest amount will get you one step closer to getting your dream house. In addition to raising extra money, you can also practice frugality by living below your means to decrease your expenses.