Keller Williams Realty,Brevard

Reasons to Tailor Your Home Search to Your Budget

by Maria "Action" Jackson 04/07/2019

For those who want to simplify the homebuying process, crafting a budget is ideal. Because if you tailor your house search to your finances, you can eliminate the risk of spending beyond your means to acquire your dream residence.

Now, let's take a look at three tips to help you budget for the homebuying journey.

1. Analyze Your Financial Situation

Request a copy of your credit report – you'll be glad you did. You are eligible to receive a free copy of your credit report annually from each of the three credit reporting bureaus (Equifax, Experian and TransUnion). Once you have your credit report, you can assess your credit score and take steps to improve it as needed.

Getting your credit report can help you identify outstanding debt and other financial issues that may make it tough to acquire a house. If you can correct these issues today, you can eliminate the risk that they could impact your ability to buy your dream residence in the near future.

2. Consider Your Homebuying Expenses

The price of a home is one of many financial considerations that a buyer will need to evaluate during the property buying journey. Fortunately, if you map out your homebuying expenses, you can ensure that you'll have the finances available to cover these costs as you pursue your dream home.

For example, a property inspection may be used to assess a house's condition before you finalize a home purchase. This inspection will require you to hire a professional home inspector, so you will need to make sure you have the money available to cover the cost of this homebuying expense.

You should consider home closing costs as well. And if you start saving for home closing fees and other homebuying expenses, you won't have to worry about scrambling to get the money to cover these costs as you navigate the property buying journey.

3. Get Pre-Approved for a Mortgage

Pre-approval for a mortgage is a must, regardless of your homebuying goals. If you meet with a variety of banks and credit unions, you can analyze your home financing options and select a mortgage that suits you perfectly.

Banks and credit unions are happy to teach you about different types of mortgages and how each type of mortgage works. Plus, if you have any mortgage questions, banks and credit unions are ready to respond to your queries right away.

As you prepare to pursue your dream house, you also may want to hire a real estate agent. In addition to helping you streamline your search for your ideal residence, a real estate agent can put you in touch with the top mortgage professionals in your area, help you plan ahead for various homebuying expenses and much more.

If you want to conduct a successful home search, it may be a good idea to prepare a homebuying budget. Thanks to the aforementioned tips, you can craft a homebuying budget so you can accelerate the process of acquiring your dream house.

About the Author
Author

Maria "Action" Jackson

Maria Jackson grew up in Germany, but the first time she saw Cocoa Beach’s surf and sand, she knew she was home. That date was December 24, 1983, and although she goes back to Germany to visit often, she has never regretted her decision to stay here permanently.

Maria worked in several fields over the next few years, but they all had some link to the real estate industry.  She finally realized that was the career she was looking for and in 2004 she obtained her real estate license.  In 2019 she joined Keller Williams (KW). “I’m pretty tech savvy,” she says, “and I liked that the KW app is so up to date with the latest in marketing tools and internet sales.  I love using Social Media including Facebook, Twitter and the DSRE app.  I believe it’s important to utilize every tool at my disposal to market my customer’s listings.” Maria recently closed on a $860,000 home and credits the marketing tools to her success.

She wakes up each morning excited about what the day will bring. “Every day is a new day, a new client, a new listing.  I love the variety of learning something new every day. I’m a really good communicator and even better at being able to see the whole picture, even when my client doesn’t. Sometimes clients think they want one thing but I can point something out to them and they will do a complete reversal. It’s my job to point out all the details that sometimes they don’t see.”

Maria, who is fluent in English and German, has worked extensively with local and international investors. Although she lives in the charming Canaveral Groves community, she manages listings and transactions throughout all of Brevard County.

Maria and her husband have three grown daughters and two grandsons. They love family get-togethers and spend as much time on the water as possible. Maria devotes her volunteer time at a local elementary school and has helped host fundraising benefits for local residents in need.

Maria’s feelings haven’t changed since that first day she set eyes on the beach; she continues her love affair with Cocoa Beach and the surrounding area and knows that she made the right decision in calling this new place home all those years ago.