In most cases, money is what’s stopping renters from becoming homeowners. It’s not just the down payment they have problems with. When they think of how much money they have to set aside for mortgage monthly, they decide it’s not yet time to invest in their future.
If this is how you think about buying a house, you’ll never own one. Change your attitude toward home buying by doing the following:
Look Within Your Budget
It’s fun to look at grandiose houses, imagining how your life would be if you lived in such an estate. The problem with this is the sense of envy and disappointment that comes with the inability to actually afford the lavish lifestyle.
Instead of torturing yourself then feeling sad about your own financial shortcomings, limit your search to houses you can afford according to a trusted mortgage calculator. This way, you can look at Scottsdale properties you can realistically live in, and you will not have to waste time and effort daydreaming about a life you can’t have.
Does this mean you can’t even steal a glance at a real estate magazine or online listing? You’re free to peruse them, so long as you know they’re beyond your budget and you’re only looking at them for design inspiration.
Consider the Inclusions
Houses sell in various conditions. Some of them may not be move-in ready, which means you will need to do some repairs to make them safe for people to live in. Other houses come in perfect condition, especially those that were newly built or renovated. This means prices vary, as well.
For buyers looking to move in with urgency, you would want a house that does not have to be fixed further. There are also inclusions that do not come with the property, but instead, they come with the neighborhood. A secured main gate, for instance, is an inclusion if you are buying in a gated community. The proximity to schools or other important places can also be considered inclusions, which will benefit you when you move in.
Choose Lot Wisely
A corner lot may sound like it will give you better land area and a good position in the neighborhood, but do your research on how vulnerable they are to burglary. They’re easily visible from both sides of the street, giving burglars a good peek and chance to plan their attack.
Of course, you have to weigh that risk with the level of security you plan to shell out for your home purchase, which will also impact the home insurance you can get. One small decision leads to several other costs or savings, so don’t just choose a property based on its market price. You will be paying the mortgage for years and if you’re constantly attacked by unforeseen costs relating to the wrong purchase, it will end up being more expensive than what you’ve anticipated.
Your home will be part of your life for years. Make it a wise and cost-efficient purchase.
