Saving with Simple for a down payment

It took a few years and a couple offers, but Aaron, his partner and their dog (Cow) now have a home to call their own. Read on to learn how Aaron saved for a down payment with Simple.
Aaron - Oakland home

Owning a home had always been on Aaron’s radar. And when they started looking in San Francisco, he knew it wasn’t going to happen overnight, or be cheap.

Getting serious about savings

After reading a book called I Will Teach You to Be Rich, Aaron came up with a plan to save for a down payment. He was going to save in $1,000 increments, like the book suggested. “It seemed so much less intimidating than saving towards a huge lump sum,” he said. “I figured, why not try it?”

So he set his first Goal for $1,000 and let Simple take it from there. He liked being able to see his Goal add up, without having to actually move any money around himself. Without the automatic daily contribution, Aaron said he’d never trust himself to move the money over.

After he accomplished his first Goal, he set another. And then another. After a while, he found that he’d saved a pretty good amount. One that could actually be used as a down payment on a first home. So they started seriously looking.

A change of plans

Initially, they wanted to buy directly in San Francisco. Aaron works in tech, in the city, and was convinced they were going to find something that could work.

After a few tries, they started to notice that the properties were either in need of some serious work, or pretty far outside of what they were willing to pay.

They ended up going to see a place in Oakland, and fell in love immediately. It was charming, mostly renovated, and something they could afford. They moved in this past September, and haven’t looked back.

Aaron - Oakland home 1 (1)

“I still feel like I’m a part of the San Francisco community,” said Aaron. “And I’m really happy with where we ended up.” It’s just a short commute for him, and an even shorter one for his partner who works a few blocks away.

But the best part? The backyard. There’s a big, bright mural that really catches the eye. And Cow, their lab mix, is so excited to finally have her own yard after living in apartments for her whole life.

Cow - backyard home

Up next

With this big life achievement checked off the list, Aaron is back to building his Savings Goals up. He’s taking full advantage of the competitive interest rate he’s earning in his Protected Goals Account, and is saving for property taxes and maybe a new roof – $1,000 at a time.

“My Goals used to be so interesting,” he said. “Like this down payment, a trip to Japan and other vacations. I guess this is adulting though. It’s still pretty exciting.”

Congrats, Aaron. We think it’s really exciting. And we’re so glad to be a part of your saving process!

How to save for a down payment with Simple

If you’re interested in buying a house in the near or distant future, start by creating a Goal with Simple. Follow these tips to help you reach your Goals even faster!

Start saving for your down payment with Simple!
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