Special offer

Don’t be house poor, buy what you can afford.

Reblogger
Real Estate Agent with United Real Estate DC Metro Region (703.216.5635) cheryltee47@gmail.com

The title speaks for itself and it's simple as that.  Don't allow your eyes to be bigger than your pocketbook.  Owning a home is one of the greatest rewards one can have, however, putting ALL your money in it does not make it great, in fact, its draining and makes life just pure hell! Remember to add in the maintenance costs and things such as utilities, because you will be spending on such things.  John's short blog is reality...period.

Original content by John McCormack, CRS 16572

Don’t be house poor, buy what you can afford.

Just recently I was speaking with a young couple and they had just returned from their big box bank.  They were so excited to learn they had been approved for a good bit more than they had originally Don't be house poor, buy what you can affordanticipated.  I could easily see they were armed and ready to spend the max.  I really wanted to share in their excitement but I am going to be their Albuquerque Realtor and they needed some solid guidance going forward.  

Obviously this is great news and you’re now pre-qualified and ready to proceed but consider this. Don’t be house poor, buy what you can afford!  They said, “ But John the bank said we can afford more now.”  I understand, but just because you are approved for more does not necessarily mean you should spend more.  When we first talked you had a budget in mind, we talked about current expenses, student loans, car payments and you have plans to grow your family.   I really think we can find you a home that fits your budget without spending the approved maximum.  You still want to have a life, enjoying social events, date nights and vacations.  You also need to be saving for your future and that planned family.  When buying your first home be wise, consider all things in reasonable perspective and Don’t be house poor, buy what you can afford.

Albuquerque Homes and Lifestyle Blog

 John McCormack Agent Photo

 

 Albuquerque Homes Realty Transparent Logo

www.AlbuquerqueHomes.com

********************************************************************************

John McCormack    Owner/Managing Broker,  e-PRO

505-980-4576 / John@AlbuquerqueHomes.com

Search Albuquerque Homes For SaleSearch Albuquerque Homes & Lifestlye

If your considering Buying, Selling or Relocating  to Albuquerque or Rio Rancho, NM and need a Professional Realtor It would be my pleasure to help you!

Be sure to visit my AlbuquerqueHomes.com website for total access to all available homes in the following New Mexico communities:  Albuquerque, Rio Rancho, Los Ranchos, Placitas, Bernalillo, Tijeras, Sandia Park, Cedar Crest, Bosque Farms, Los Lunas & Belen.


Come On Back and Visit My

Keys to Blog

Button to Subscribe to Albuquerque Homes and Lifestyle Blog

Google Me John McCormack Albuquerque

QR Code to AlbuqurqueHomes.com

Come Join Me On Facebook  

RSS Feed to Albuqueruqe Homes and Lifestyle Blog

 

Lets Connect on Linkedin

 

 

Albuquerque Homes and Lifestyles on YouTube

 
Posted by

 

 

Serving all areas of Prince William, Fairfax, Stafford, Alexandria, Arlington and Spotyslvania Counties. Guiding you through the process of purchasing or selling residential property.                 

                                                                                                                   

 Cheryl Thomson, Realtor ® | 703.216.5635 | cheryltee47@gmail.com | Jobin Realty | 9327 Main Street, Manassas, VA 20110

 

            

 

 

 

 

                                                                                                                                                    

 

 

                                                                          

Comments (6)

Edward Gilmartin
CRE - Boston, MA

You have to keep in mind that Property taxes can keep going up...many homes require upkeep that you are responsible for....Buy a home you can afford and invest some money on the side..and when at all possible go for a 15 year mortgage so you can pay the place off sooner.

Nov 19, 2012 09:16 PM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

That is such a breat post by John. How often we have seem so many get in trouble buying what they really can't afford.

Nov 19, 2012 09:16 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Cheryl. This is the path that many of us need to follow in so many avenues of life, not just buying homes. Have a Happy Thanksgiving.

Nov 19, 2012 09:20 PM
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Good morning Cheryl -

Long time no see.... Lady you are missed in the Rain!  Thanks for the re-blog you are very much appreciated.  I take re-blogs as a high honor and compliment.  Hope you enjoy a very Happy and Blessed Thanksgiving.  

Nov 19, 2012 09:28 PM
Roy Kelley
Retired - Gaithersburg, MD

Good choice for a re-blog.  John provides some very sound advice.

Have a very special Thanksgiving Holiday!

Nov 19, 2012 09:37 PM
Cheryl Thomson REALTOR Ret Army
United Real Estate DC Metro Region (703.216.5635) cheryltee47@gmail.com - Prince William, VA
Associate Broker in Northern Virginia

Hi John..I know, I know, miss you guys too and your welcome.  It certainly was worthy:)

Everyone thanks so much for commenting, credit goes to John!

Nov 19, 2012 10:20 PM