Im looking for a house that's at least to $180k. What's a good amount to be saving up every 2 weeks if you were me?

[Anonymous]

[zeitgeist057]

Simple math skills should help you figure out what you need to be saving.

First lets just bump that "minimum" up to a more round average figure of $200K. You will need a 10% minimum deposit on the house, which will be $20K. Next couple of questions:

1. How long do you want to take to get that deposit together?
2. How big of a loan does your current income qualify you for? (you need to make about $50K/year to get a $180K loan, but you can use the calculator at the link to get a more exact number)

Let's say you want to have your deposit next month. That's easy; goal is $20K, time is one month. $20K/1 = $20K/month.

If you want to have your deposit ready 5 months from now, $20K/5 = $4K/month.

So the formula is Deposit amount ($20K) divided by number of months, equals how much you need to save each month. For two years (24 months), it looks like this: $20,000/24 = $833.33

Keep in mind, that if you take too long, house prices will go up. That $200,000 house may be selling for $220,000 two years from now. So don't take too long to get that deposit together, or you're behind the power curve!

If you are wanting to invest in real estate, but don't have the funds to buy an entire piece of property on your own at the moment, you might consider doing what I've done, and build your nest egg using Fundrise, a real estate investment app. Right now they are doing a referral program where if you use my link and deposit even $10, they give you a bonus $50. This might be a good place to start saving, as your savings will earn interest as the real estate appreciates. Here's my referral link. https://fundrise.com/r/5noy0p
.

This is a good way to keep your savings from depreciating with inflation.

$50 bonus for both

If you want a shorter answer, the tldr is I would save ~$500 every two weeks.

[Guy13]

1500.00 every two weeks will put you at 20% down which is what the bank woukd like to see.

[Drumlin2001]

As much as you can.