Buying a house for the first time can be an exciting, yet overwhelming time for any individual. Aside from having its own unique set of challenges – more than ever, you want to make sure you keep enough money around in the event of emergencies.

Here are 11 money saving hacks you need to know if you are a first time home buyer.

1. Just because you are approved for a certain amount of money does not mean you have to spend it all. Opting for a house below your optimal approval amount is wise and practical. It is vital you have funds left after the purchase for other bills.

2. Look into opportunities that fit your financial situation. For example, if you have low credit scores, research options for people in your situation to save money.

3. Don’t discredit a house that is older or needs some work. You can save money in the short term, and when you have saved up some more funds later, you can make the necessary renovations so that the house is uniquely yours. You can find great ideas on how to save money when remodelling your house.

4. While the reputation of the neighbourhood is important, some communities receive bad images for no reason. The only person who needs to like the community is you; outside perceptions don’t matter. You can score a great deal in a safe and quiet neighbourhood that has an unfairly negative reputation.

5. Avoid racking up spending for your house with your credit card. Doing so can lead you into massive debt, and you may find yourself spending the rest of your life trying to get out.

6. If someone offers to throw you a housewarming party or a shower if you’re getting married, consider accepting the proposal. Doing so will let you get some needed items from your house.

7. Don’t feel as though you need to tackle every project right away. Try to work on one room at a time so that you don’t spend all of your home improvement money immediately. You can also find a list of common renovation “traps” here.

8. Ask your relatives and friends for help. Instead of hiring a painter, maybe your group of college buddies can lend you a hand. On moving day, ask your parents to watch the kids as opposed to hiring a babysitter.

9. Shop garage and yard sales. You’ll be impressed at the excellent items you can purchase that have a place in your new home.

10. As soon as you can start to use your kitchen, begin preparing meals. While ordering food in every night as you set up seems tempting, doing so is costly.

11. Although you may want to decorate the entire house now, you have time. Spending all of that money isn’t necessary; allow the decorating process to come naturally.

Using these tips can help you to keep more money in the bank when buying your first home.