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Hacking home buying

Hacking Home Ownership

Going about home ownership from renting using the conventional method is for the outdated (un fun).

Even with today’s crazy home property prices there is still a cheap and affordable way to own a home, especially in markets like the San Francisco Bay Area, Los Angeles, and New York (Yes Manhattan too)


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Face it, we all have to own a home some day. And unfortunately it becomes one of the biggest expenses and investments that drag on throughout our lifetime. Owning your first home is even more difficult given the major barriers that are put up by the market–particularly the down payment of your home and the subsequent monthly mortgage payments.

But you can’t avoid it unless you plan on throwing away money on rent for the rest of your life.


There’s a cheaper and financially savvier way!

Why be a sucker?

If you’re going to require a roof over your head and pay for it with your hard earned money, one way or the other, you might as well do it in a way that truly maximizes your sacrificed dollars. Renting isn’t the best thing to do for your current wallet and future wallet, I’ll get into a solution in a minute.

You get it, I get it, owning a home is the way to go but there are barriers! Down payments now a days are not cheap, depending on what city you are in they can easily be in the six figure range and take years to earn.

For example a 20% down payment on an $800,000 home in greater Los Angeles or a $1,000,000 home in the Bay Area outside of San Francisco is $160,000 and $200,000 respectively.


Coming up with a down payment is daunting – Hack the process!

If you co-buy a home, you can halve that down payment. What’s more is if you co-buy a home using Home Savvy’s flexible down payment requirements, say putting 5% down–you can own that home for only $40,000 and $50,000–a difference of $120,000 – $150,000. Yes you read that right. Read it again.

You can further hack the homeownership process by getting a third person to co-buy with and split that down payment to one third of the requirement!

Doing the math for a $800,000 home bought by three co-buyers and splitting 10% down via Home Savvy:


$800,000 x 10% = $80,000 down payment divided by three co-owners is just $26,6667 per homeowner!


Owning a home in San Francisco’s Bay Area for $33,333 or Los Angeles for $26,667 is the ultimate hack

Also remember you are splitting the monthly mortgage payments three ways. So your monthly out of pocket payment can be cheaper than rent. Perfect for millennials or people living in expensive areas or just those who want to save money on buying a home.

Remember with Home Savvy you can sell your share at any time, independently of each of your co-homeowners. Home Savvy will also step in if one of your co-owners missis a payment or should any other financial issues arise.

It’s clearly the ultimate way to hack home buying, one of the biggest requirements in life.

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