Considering to increase the budge of your new home?

are you having troubles finding "The One" home under your budget?

Watch this article in a one minute video

As the home inventory continues to be low on the market, many buyers now seems to be limited with the homes that they can find. 

I have been working with new buyer clients who has is very clear on their budget, wants/needs list, with great motivation, however, the problem has been that we  have not been able to find the home that matches their criteria within their budget for few weeks now.

Under given circumstances, my clients had told me that they are they are willing to increase the budget of their mortgage & price of the home – then, we have been able to find few homes that are much closer to their desire list. 

However, an alarm immediately started to ring in my head – as I immediately rewinded to one of the first conversations we had at our initial buyer consultation – which was, when I asked them what are some of the things that were important to them – and one of them was, that “We don’t want to be house poor” (meaning paying a big portion of your income on the mortgage – which is an extremely good thought) 

This buyers in particular, are a first time home buyers, who has great income, has done their  due-diligence very intelligent, organized and who had carefully been thinking about their future.  

Yes, it is likely that they can easily afford higher mortgage. 

However – mortgage is a very long commitment.  And anything in life can happen in the long term.  On the positive side, they may be able to refinance when the interest comes down, or may have more income in coming future, but it was important for me to remind their values – what is important to them, also, that home buying does associate a lot of additional costs (depending on the home you get, could be repairs, updates, moving costs, etc.) 

This is one of the most important reasons why we do a buyer consultation with all of our buyers, to understand their priorities and values. 

You will find under the “Services” section on top of this page, where I have some steps of home buying, as well as basic Q&A’s. 

Our buyer consultation is with no obligations, so if you are considering of buying this year, please do reach out for free consultation any time! 

 

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