How Many Coffees Would It Take To Save For Your Down Payment

Dated: 07/26/2017

Views: 49

How many Starbucks coffees would it take to pay for a down payment on a new home?

Let’s use Stephanie located in Reno, NV, as our example. According to Starbucks pricing, a Vente Caffe Latte is $4.15. The Reno/Sparks Association of Realtors list the average sold price in Greater Reno/Sparks in June 2017 at $340,000; so 20 percent of the average home sold in Greater Reno/Sparks would be $68,000.

So it would take you not purchasing 16,386 Vente Caffe Latte’s to put a down payment on a home in the city in Reno, Nevada. That’s a lot of years of no Starbucks, right?

Putting down 20 percent is not an easy task (and it isn’t always necessary to put down that much!) But doing so requires cutting back in other areas of your life and focusing on saving every penny to reach your goal of homeownership.

Add to this some other small cost saving tips and techniques, and together they may make all the difference in coming up with the money to make the purchase of a lifetime. Here are a few ideas to suggest to save money. 


Ways to save money inside the home

  1. Eliminate your cable bill for one year

  2. Stop buying coffee outside the home

  3. Buy generic brands at the grocery store

  4. Cancel magazine subscriptions

  5. In-source everything household: Clean your own home, do your own weeding and mowing, etc.

  6. Make gifts for people versus purchasing them for one year

  7. Consolidate student loans

  8. Downgrade to a cheaper cell phone bill; there is usually always something better if you call in

  9. Request a credit card rate reduction

  10. Try buying used books when purchasing from Amazon for just one year

Ways to save money outside the home

  1. Try uberPOOL instead of uberX

  2. Cycle or walk to work if possible within two miles

  3. Only eat out one time per week or month

  4. Stop smoking or drinking, if this is something you do regularly

  5. Keep the tires on your automobile properly inflated; every two PSI of air you’re able to add to your tires can improve your gas mileage by 1 percent


What ideas can you come up with to save money? 


Credit: Inman, Cheryl Spangler

Blog author image

Amy Lang

Amy Lang started her real estate career working as an assistant to a top producing real estate broker where she learned how to manage a demanding work load and large volume of inventory. Soon after b....

Latest Blog Posts

10 Home Trends That Will Be Hot In 2018 And 2 That Are OUT

Whether your home is due for a decor update or you simply prefer to keep up with the latest interior design styles, experts have revealed the decorating trends that will dominate 2018. So, if you

Read More

Excellent New Kitchen For 2018

White Kitchens are In AND the mix of Metals!!!  What do you think of this Kitchen? ;

Read More

3 Common Fears Of Home Buyers And How To Overcome Them

Buying your first home can be one of the most exciting experiences of your life.But it can also be one of the scariest.Buying real estate is a complicated process. And if you've never purchased a

Read More

Learn Stuff

    Have you heard of the word ginosko? It's a Greek word. It has a great meaning. I don't think there is a English word that means the same concept. The word is used for people who

Read More