What you need to know about buying real estate in St. Petersburg Tampabay
Buying property, Step 2
Now that you have thought about your NEEDS and WANTS we have to find out what you can actually afford. (Let's all them CANS)
I know, nobody likes to talk or deal with this, but it is a big part of the process.
Call you mortgage broker or your bank and set up an appointment.
Sit down with them (do not do this on the phone) and get the NUMBER. By that I mean the amount of money you can spend on your new home.
Make sure you can afford the payment, and do not forget that you need a cushion for repairs or increases in maintenance fees or taxes etc. for your home or condo. Do not stretch yourself to thin.
Just because your mortgage broker says "Based on your loan to income ratio you will have no problems making the payment." Doesn't mean that he is right, only you can make this determination, because in the end only you know your lifestyle and how much it costs. It always amazes me when people right now pay $1000 in rent and have no money left over at the end of the month, that these people and their mortgage broker think they can easily afford to make $2000 mortgage payment per month. So, make a responsible decision, and be safe rather than sorry.
Step #1 Buying property here in Tampabay St. Petersburg Florida
If you think about buying or selling a house or condo in the Saint Petersburg Florida area, please give me a call. Ask me about waterfront homes or condos in St. Pete beach, Treasure Island, Madeira beach, Seminole and other Clearwater Tampabay neighborhoods. Find out what we can do to sell your home or condo and what the value of your property is. Check out great real estate deals or visit condo associations like Seminole Isle.
We also work with short sale bank owned and foreclosures. Find a property or go to my website for more real estate information or simply contact us. 727 409 8706
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