helping you through the house-selling process

Selling real estate can be just as much work as buying. There are so many things to worry about as you prepare your home to list on the market. Then you have to worry about the real estate agent you will hire to help you get the house sold. After that, you have to worry about who will be coming in to tour your home throughout the week. Will you hold an open house? Do you take the first reasonable offer you are presented with? Our blog was designed to assist you through the selling process a little bit easier.

Budgeting For Your First Home


Think about your dream home. What do you imagine? A decked out kitchen? A giant garden tub? A workshop off the garage? Now think about which one of those things you could live without. The truth is that your first home purchase is going to be stressful and you may not find exactly what you are looking for as a turnkey property. Much of the stress comes from the financial responsibility required of a homeowner. If you are like most Americans, you don't generally have 10% sitting in the bank for a down payment, but there are things you can do to help increase the probability of getting hold of those keys sooner. 

Be Realistic

The bank is not the first place to go — your own kitchen table is. Sit down with your spouse and discuss what you must have in a home and what can be added later on. Do you really need to have stainless steal appliances? Is that big garden tub going to make or break the purchase? The truth is that you will more than likely not come across a house for sale with everything that you must have and want — especially within your budget as a first time buyer. Make sure that you're not settling for something without your must-haves either. By coming up with a game plan you will be better prepared to take that leap and make the purchase. 

Separate Your Finances

When you start saving for a home purchase, opening a separate savings account can make all the difference. This will make it easier to keep the money flowing in without a constant outflow of cash. Many companies will allow you to automatically deposit a set amount from your paycheck directly into more than one account. So even if you are already getting direct deposit, you may be able to have some of that going into your home savings account without having to make the conscious effort. Commit to refrain from withdrawing any amount from this account until the time that you are ready to make the purchase.

Don't Rush

If you are starting your budget from scratch ($0), it may take longer than expected to come up with a significant down payment. Consider if you were to put $200 into your savings account each month. By the end of one year, you will have accumulated $2,400. This is very rarely a high enough down payment. By understanding what you can afford to save, you can determine what your time frame really is.

The bottom line is that by coming up with a game plan and separating your finances, you will be more apt to find a home that you love without having to really stretch your budget in the long run.


3 January 2017