SarahSalt
SarahSalt
Jul 20, 2017 · 1 min read

I had no real strategy. I used a combo of Capitol One 360 and a S&P 500 mutual fund. I used the mutual fund for the first five years or so and then when I started actually looking for a house (at about 50K saved) I just kept adding money to the savings account. You do need to have some money (ernest money) accessible when you put in an offer. If the seller accepts your offer they will want the ernest money in a few days. My seller wanted to move up the closing by about a week and I was not able to do it because the money from the mutual fund took several days to transfer into my checking account. When I sell and buy another house I will not wait so long to move the money around, it just felt really weird to have 60K in checking…

)

    SarahSalt

    Written by

    SarahSalt

    Art Director in Los Angeles