Reading time: 4 minutes, Category: Finance & Economics

Buying a flat in Dhaka is likely be one of the biggest purchases we make in your life. While it can be challenging to save money for your ideal property purchase, there are tips and tricks to help you achieve your goal. Thanks to BestBari, we present you five money-saving tips to give you some helpful ideas on how to save money for your dream property purchase in Dhaka.

Determine what type flat sale in Dhaka you want

The first step to saving for property is to determine what type of property you want and in what location. For example, how many bedrooms and bathrooms, what are the desired suburbs, how many secure car parking, etc. Once you get an idea of what you want, research similar properties in the area and note the prices and set yourself a realistic budget.

Speak with your bank about how much money they can lend you and you will get an idea of how much you should save for your first home deposit to purchase a property in Bangladesh. When you know your savings goal, write it down and the time it will take to reach that goal.

Be smart with your money

A good way to save money is to adopt smart saving and spending habits. Start maintaining a strict monthly or weekly budget and make yourself a goal of how much to deposit to a dedicated savings account for your home deposit.

Review your income and expenses regularly and find ways to reduce your expenses. There’s also a variety of budget apps available to help you manage your money during the saving period. Consider setting up an automatic transfer from your transaction account to your savings account as an easy way to transfer money to your savings account every time you receive your paycheck.

You may even want to explore other ways to earn more cash for your property purchase. For example, selling unnecessarily items or clothes or even get or even get a part-time job. Anything you can do to find additional income will help you reach your savings goal much quicker.

Lastly, contribute any spare cash to your allocated savings account. For example, if you receive a bonus at work or some cash for your birthday, add it to your home savings account to help you achieve your dream property purchase.

Reduce your spending

It goes without saying eliminate any unnecessary spending and redirect the money to your savings account. For some people, eating out less and cooking more at home is a great approach. Also, do not shop on impulse. Buy your groceries and other personal items when they’re on sale and choose the cheaper brands. And if you don’t need to buy a certain item, then don’t buy it. Control your urge to spend and focus on saving instead. Remember the reward will be purchasing your dream property soon.

Also it doesn’t hurt to compare service providers to see which service providers offer the best prices and deals, whether it be your mobile phone and internet provider, electricity or gas company or even your bank for your home loan, research and compare to reduce your expenses will always help you save money.

Set yourself a purchase date

Nothing is more motivating than having a deadline to work towards. When you start saving for your ideal property purchase, set yourself a target date you intend to purchase your Dhaka flat and write it down to keep yourself accountable.

Set yourself a reminder in your diary. Having a deadline will also force you to stick with your saving schedule. Without a target date of purchase, you’ll find it easier to spend your money on wasteful items instead of depositing money to your savings account for your dream home.

Wait for the right time to buy

Last but not least, wait for the best time to buy your flat in Dhaka. Flat prices in Dhaka can fluctuate frequently and there are certain times where you’re more likely to get a better deal. For example, there are certain market conditions, motivated selling and vacancies that can help you time the market to help you find an apartment at a very attractive price.

If need assistance on finding an apartment to purchase in Bangladesh, please contact us. Our team of property specialists in Dhaka will reach out and help you find your dream home, at a cheap price in your budget using BestBari’s network of premium real-estate brokers and property developers. We will then simply connect you with the real-estate broker or property dealer according to your wishes, free of charge.

On behalf of BestBari, we hope you have found this article useful and found ways to help you save money for your ideal Dhaka flat purchase. Please visit our News and Reviews page for more useful articles like Easy ways increase the value of your Dhaka flat.

On behalf of BestBari our team wishes you the best of luck with your flat for sale in Dhaka. BestBari is a premium BD property company in Bangladesh.