If you're a homeowner, you know what it's like to pay off your mortgage. You'll love knowing that every dollar you put toward your home is going toward something that will last for decades (or longer). But if you're not yet able to buy a home, don't worry: there are plenty of ways to save up for a down payment on your first property.

Read on for our favorite tips for putting together that savings account and finally becoming a homeowner!

Check Out These Creative Ways to Save Money on a Down Payment for Your Dream Home!

If you’re struggling to save up a down payment for your dream home, there are some creative ways to make it happen. Whether you’re looking to buy on your own or as part of a couple, these financial institutions offer assistance programs to help buyers with their down payments.

• Down Payment Assistance Programs (DPAs)

Down Payment Assistance Programs (DPAs) are available through several government-funded agencies, including the U.S. Department of Housing and Urban Development (HUD), Veterans Administration (VA), Federal Housing Administration (FHA), Rural Housing Service, and Native American Housing Fiduciary Corporation. These programs provide cash grants or loans that cover anywhere from 3%–5% of your home's cost to make homeownership possible for low-income families and individuals who otherwise couldn't afford it without assistance. Some examples include: the FHA 203(k) Rehabilitation Mortgage Insurance Program; VA Home Loan Guaranty Program; HUD Section 502 Direct Loan Program; USDA Rural Development Direct Mortgage Loan Program; USDA Rural Development Guaranteed Loan Program; HUD 202 Direct Loan Program; etcetera

Set up an Automatic Withdrawal From Your Paycheck

A method that works for many people is to set up an automatic withdrawal from your paycheck. You can do this by setting up an online transfer with your bank or credit union, or by scheduling an electronic funds transfer through your payroll department. This method is particularly useful because it allows you to see exactly how much you're saving each month and in turn, encourages you to keep up with it even when the going gets tough.

If possible, try to put aside money before taxes—this way you won't have less cash on hand after calculating the tax rate off of that amount. That said, if tax season comes around and there still isn't enough money in your savings account yet, don't feel bad about using those funds for other things (like a down payment). After all, this money is specifically designated for use when buying a home: The sooner it gets there, the better!

Put Your Windfalls to Work

There are a lot of ways you can use your windfall, but the most important thing to remember is this: don't spend it on anything that isn't contributing to your down payment. For example, if you get a bonus at work and someone suggests treating yourself to a new TV or car, please don't do it! You probably don't need either of those things—and even if you did, wouldn’t it be better to have your own home?

Make sure whatever financial windfall you receive goes directly toward saving for your down payment. If there's any money left over after making payments on other expenses, put that toward getting closer to reaching the 20% needed for qualifying for an FHA loan (or whatever percentage yours requires).

Cut Back on Takeout

You might think that grabbing a quick bite on the way home from work is convenient and saves time, but it's costing you more than you realize. Takeout food averages $10 an hour of cooking, compared to just $1.67 for a home-cooked meal.

The health benefits are also great: eating at home means you're in control of what you're putting into your body, which can help prevent obesity and other diseases associated with poor nutrition (and high-calorie fast food).

If cooking feels like too much work after a long day at the office or school, try planning by making freezer meals ahead of time—or even getting started while still in bed! "The good thing about prepping breakfast [is] that I get to do it when I'm still half asleep," says one blogger who saves money by making oatmeal before leaving for work each morning.

Conclusion

We know how hard it can be to save for a down payment on a home. That’s why we created this list of creative ways to do it. If you’re looking to buy your first home, then check out some of these options that will help you get there faster!