Buying a home is often one of the most significant financial decisions a person will ever make. It can feel like a formidable responsibility with so many things to consider, such as house size, neighborhood location, and what the house needs before moving in. The financial concerns that come with the home-buying process can also make this procedure stressful for the buyer.
Outspending your Budget
When starting the home-buying process, you have to know how much you can realistically afford. It is wise to allocate 30% of your overall budget to home-related expenses including taxes, maintenance, utilities and insurance. This percentage should also cover the down payment, one-time and recurring costs related to owning a home, and closing costs. This budget will allow you to understand what you can legitimately afford and prevent you from running out of money in the future.
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Joey Bergandi of Velocity Realty has been helping San Diego Buyers and Sellers successfully for the last five years. Joey’s ideology of Real Estate stems from transparency and communication. He believes that all transactions begin and end with direct conversations and honest expectations. If you are looking to start the process today, call Joey at (408) 603-6800!