Do you want a home that works for you or do you want to be working for your home?

We all have dreams about the type of house we want to live in.  The location is perfect.  The condition is straight out of House Beautiful magizine. It has all the bells and whistles.  Unfortunately many people reach a little too far towards that dream and find themselves caught instead in a nightmare.  

A home should be place where you can enjoy your family and freinds, and you can't do that if you buy a house that is truly beyond your means.  You need to carefully look at the reality of your finances, your lifestyle, and the bottom line monthly payments when deciding how much you can afford to spend on a house.  Think about the day to day expenses we all have, food, gas, clothing, utilities etc.  Then consider the things you like to do, sports, travel, dining out, entertainment, and all the rest.  Don't forget to add a bit for emergencies that may cause a temporary loss of income of added medicla or repairs expenses.

Be realistic then ask your lender to tell you how much house you can buy with the amount of money you will have to dedicate to your housing expenses.  You may be surprised to see that the amount you are approved for and the amount of loan that you really want to be paying each month are two totally different numbers.  If you push yourself to the limit of your approved amount you may find yourself working just to make ends meet not to meet your wants and needs.

The happiest people I know are not necessarily living in their "dream house" but they are enjoying living in the home they chose based on affordability and comfort.  I hope that as you enter a search for a new place... be it a rental, your first house, or your tenth, you will take the time to think about how much you can easily afford rather than the going price of a dream.  If you do you will sleep better at night and enjoy your life more.

If you are planning to look for a new place in the Greater Hudson Valley of New York I would love to help you find the perfect place.  If you are looking anywhere else I will be happy to help you find an agent who you can work with who will be looking out for you.