Can You Afford the Home You Want?

Can you afford to purchase the home you really want? Here are some things to consider:.

  • What kind of home do you want?
  • What kind of neighborhood do you want to live in?
  • What features and characteristics do you need in a home? (Three bedrooms? A large living room for entertaining? A backyard big enough for a garden?)

Then, do a quick search:

  • What homes currently on the market match that criteria?
  • Are there some properties for sale that are close to what you’re looking for?
  • What are their listing prices?
  • How much, realistically, will it cost to buy one of those homes?

Then, it’s important to know:

  • How much, realistically, can you expect to get for the sale of your current property?
  • How much of a mortgage will you need? How does that compare to the mortgage you qualify for?
  • What additional costs will you incur in selling your current property and purchasing your new home? (For example, moving, home inspection, repairs and renovations, closing costs, etc.)

Chances are, there’s a home on the market that you can afford – and is right for you. And if answering all of these questions feels a bit overwhelming, just give me a call to discuss. I’d be happy to help you find the perfect fit for you.