That’s the best way I can say: don’t overspend…but also, don’t buy too small either. Your lender will give you a loan limit, based on your debt-to-income ratio. But you don’t have to spend up to your limit. You must decide what your comfort limit is, and ask that crucial question,“Can I afford to live in this house?”If you overspend that, you are at risk in 3 ways:
You risk by not having any margin in your finances. What if one family member looses a job, or gets a decrease in pay or employment? Again, only you can decide your risk tolerance.
You risk other financial goals when you overspend on a home. Over time, those unmet goals, whether they be travel, education, or future savings, take a toll on your quality of life. Be certain.
On the other hand…sometimes being too conservative is not the right choice. Buying a house that won’t meet your needs in the next 5 years also puts you at risk. When you are cramped for space and need to sell, you won’t have the equity to cover the costs.
If you are in a position in which you are certain of increasing income over the next few years, you may want to consider buying a larger home at the top of your price range. The choice is, of course, yours, and the risks need to be assessed. If you buy a house that is going to be too small when you have an addition to the family next year, or that isn’t in your preferred school district, for instance, that will be a problem. Sometimes it’s the right decision to stretch.(always consult a licensed financial adviser)
Use Your Realtor®!A good professional is key to navigating the lending rapids. Your real estate agent will have trusted lending professionals that they will recommend. Our team of professionals, whether lenders, title attorneys or home improvement, are interested in the best possible experience for you.
CLIENT SERVICE GUARANTEE: American Allstar Realty is committed to providing every customer with the highest level of service. As your agent, I promise to always remember that YOU are the most important person in the transaction. At American Allstar Realty, we believe that communication is the cornerstone to a successful transaction. Please feel free to communicate your wants and needs to me as frequently as possible. If I am ever unavailable to receive your call, I promise to return your call as soon as possible; normally in less than one hour.
Buying or selling a home is about much more than just the price you pay for a piece of land. Selecting a property to become your home or place of business is what it is really about, and that's why I enjoy helping my clients buy and sell real estate. My clients come to me because of my knowledge of the industry and my familiarity wi th the area. I can help you find that "dream" home. Call me today and let's get started!
To navigate the complex decisions involved in today's real estate market requires the guidance of a professional. I am committed to service with an emphasis on accountability, reliability, timeliness and enthusiasm. I provide my clients with all the information necessary to help them make real estate investment decisions throughout the changing market cycles.
A successful real estate transaction is built upon the strength of relationships and the experience of how to get things done. I am well respected by my peers, and have developed invaluable working relationships with other professionals in my industry such as title companies, attorneys, lenders and appraisers.
Don’t buy a house that puts you at riskThat’s the best way I can s
"We would not hesitate to use Matt again, or to recommend him to friends and family. He is very knowledgeable, accommodating and professional. Matt really went above and beyond during the sale of our home and purchase of a new home. He gave us valuable advice and guided us through the selling and buying process. Let's face it, buying/selling a home can be a stressful and emotional time, but Matt was the calming voice we needed."