10/24/2016 0 Comments Home buying 101: What's my budget?Find this house, at our location in Verrado, here.
Ready to buy your first home, but have no idea where to start? Before you find the perfect home in the perfect spot & mentally move yourself in, you need to determine your perfect BUDGET. I know, the dreaded B-word! While no one loves talking budget, it is the very first & maybe most crucial step to buying a home. Creating a budget, will help you create the parameters of your search & ensure you don't get in over your head. There is nothing fun about being house poor. So where do you start? How do you create the budget? First, you need to write it out. Get out those spreadsheets, or just some paper & pencil. At the top, write down your total monthly income after taxes. Then, make a list of every single monthly bill you are currently paying. That would include, rent, car payments, insurance, water, electric, cable, internet, cell phones -- everything you are required to pay every month. Then, start adding the things that don't come as 'bills' but that are still monthly expenses, things like groceries, gas & eating out. Once you have it written out... Add it up. That will give you your monthly expenses. Subtract your monthly expenses from your total monthly income to determine how much disposable, or extra income you have each month. This is your 'flex' space & depending on how much flex space you like to have, will help determine how much you should put towards your new home. Trim the fat. If you're looking to move into something bigger & better, you might need to cut the fat in order to afford a bigger mortgage. Where can you cut back? Do you need cable? Is there a less expensive alternative? Can you brown bag your lunch a couple times a week? You're mortgage is really going to end up taking the same spot as rent, and a standard rule for lenders is that your monthly housing payment (principal, interest, taxes and insurance) should not take up more than 28% of your income before taxes. This debt-to-income ratio is called the "housing ratio" or "front-end ratio." Once you have these numbers all written out figure out what your 28% is. It is not recommended that your mortgage be more than 28% of your monthly take home pay, and if you can keep it less, do it! Run the numbers. Once you have a monthly mortgage number you're comfortable with its time to start talking to a lender. Or you can use a mortgage calculator to help determine your housing price point. There are all sorts of apps and websites that provide relatively accurate mortgage calculations, but know that none of them are as good as talking to a lender who can give you exact rates & parameters for your unique situation. Don't hesitate to call, it's their job after all! Stick with it. Remember this is a process. If this exercise shows that you need to save more for a down payment, make the changes necessary & do it. If it shows that you can afford more than you thought, well do a happy dance & get shopping! While rarely does anyone like sitting down to go over budget, its the only way to better empower your decision-making. Small changes will add up & make a big difference.
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10/7/2016 0 Comments October City Guide6 things to do this October The weather has finally shifted & it's time to get outside...or just have some fun. 6 things to put on your October calendar and fill up your Instagram feed with. 1. TOMORROW NIGHT! It's Monster Jam. Whether the men in your life are 5 or 55, this always seems to be a hit. Who am I kidding? It's not just the boys that love the rock & roar of this event. With the likes of Grave Digger, MaxD and Northern Nightmare on the line up there isn't much to complain about. Head here for all the details & ladies...pay attention to what bag you can and cannot bring into the venue with you. 2. ARIZONA STATE FAIR Whether you're there for the fried twinkies, Concert series or petting zoo, just make sure you get there! The fair is running from 10/7 - 10/30 this year. The Concert Series, which is free with a paid entry ticket, is bringing some fun names like, Big & RIch (10/8) Iggy Azalea (10/15), Charlie Puth (10/21), and Gavin DeGraw + Andy Krammer (10/28). Every year I'm astounded at the amount of fun attractions and things to do. Head here for more info and bring the whole family or make it a date night. 3. Speaking of Date Night...Have you heard about the ? This is a 21 & over event? Enjoy haunted stadium tours, costume contest, gourmet food trucks, beer, and wine---then cap off the night with a movie on the field (blankets only)! Head here, to vote for which movie to show & start prepping your costumes asap. 4. Find Fall. Head up North & find the best fall foliage. We all know that no instagram feed is complete without a picture of #fall. Pack a picnic lunch & enjoy a drive to the mountains. Need some ideas of where to head? Here are 5 great spots. If you're looking for a great hike while you're there, try Tonto Natural Bridge, a great hike for the whole family. Make sure you hike down through Pine Creek Trail...you won't believe you're still in Arizona!
5. And if going north is too big a hassle to find fall, just head to Schnepf Farms. Always fun for everyone with hayrides, corn mazes & pumpkin picking! you can get discounted tickets at your local Fry's. Head here for all the details. 6. And after all the inevitable munching that will happen at those events...get yourself signed up to run the Haunted Half Marathon + 5K on October 29th. Race starts at 7 am in the San Tan Mountains...go here to sign up & get training! |
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Hi, I'm Amy, the resident blogger for Pinnacle West Homes. A licensed real estate agent, I've worked in the new home industry for over 10 years. While real estate is fun, I'm mostly a wife & mother & understand that you're not just buying a house, you're creating a home. If you have a question you can't find the answer to here, shoot me an email & I'll get you covered. We're happy to be on this journey with you. ArchivesCategories |