Make sure you talk with a financial advisor to decide what you can actually afford. Talking to a loan officer at Quest Home Loans is a great first step to deciding what you can afford. They will look at your expenses, and give you an estimated number that you may be comfortable with.
Spending the Max You Can Afford
Finding that dream home that is on the high side of your budget can be dangerous. Just because it is within your budget doesn’t always make it the best choice. Always leave room in your home buyers budget for emergencies/unexpected expenses when it comes to the home/mortgage.
Not Getting Pre-Approved
As we have discussed before, the first step you should take before even looking for a home is get pre-approved for a loan. This will open opportunities for you, and make the process less stressful. Read more about why you should get pre approved first HERE
Failing to budget for Repair and Maintenance
Even a new home will need yearly maintenance or repairs. Make sure you have room in your budget for unexpected repairs and some maintenance.
