Seattle Real Estate – Buying a Home You Can Really Afford

Seattle Real Estate – Buying a Home You Can Really Afford

Seattle real estate agents see it all the time – clients that want to buy a house that they really can’t afford. It can be hard to see your friends and loved ones moving forward faster than you are if they have higher paying jobs or less debt to manage. One of the things you’re going to have to do is just settle back and look at the houses that you really can afford.

Purchasing a house that’s out of your budget is going to run into complications later on down the line. There are a lot of things that come up when you own a Seattle real estate and some of them can be very costly. For instance, a small hole in your roof can run you hundreds of dollars to get fixed. Roofers aren’t cheap.

You’ll also have to examine the cost of running a home. While you are factoring out the cost of paying your utilities, remember that these prices are only going to rise from year to year. Will your paycheck be able to keep up with these price rises? If you buy Seattle real estate that you really can’t afford you won’t be prepared for sudden spikes in the price of utilities.

You’ll also have to forfeit a lot of the extras that you may be used to. Are you ready to sacrifice your yearly vacation, for example, to own a bigger and better house? Well you have to eat out less often or cut down on your shopping? In the worse case scenario, will you even be able to afford enough food to feed the family for the month?

Buying Seattle real estate that doesn’t match your budget is never a good idea. While it may seem so now, and you may be thinking that you are willing to give up some of the extras or work a part-time job later to handle emergency it expenses as they come up, you may live to regret it later. Take some time to have a good discussion with your real estate agent if you are tempted to buy a bigger house than you can really afford.

This Seattle real estate market update is courtesy of Adrian Willanger at Coldwell Banker Danforth& Associates 206 909-7536 helping people buy and sale homes in the Greater Seattle area. 

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