Happy Holidays! With Thanksgiving 2007, being a pastime and Christmas around the corner, being in the market can be a challenging time. If you are currently looking for a home, it is important that your budget is put into full effect. We all know how easy it is to overlook our saving habits and spend money on Holiday decorations, gifts for family & friends and even spend extra money on ourselves, but we have to crack that whip and remain discipline.
Here area some tips to help budget during purchasing or refinancing a home during the holidays.
1. Do not overspend. Budget! Budget! Budget!
- Write down your current monthly income.
- Estimate your monthly withholdings
- Estimate your current fixed expenses (rent, insurance, savings, etc...)
- Estimate your current flexible living expenses.
It is important to know what is coming in, what is going out, and adjust accordingly!
2. Don't change your regular saving habits. Set up Automatic withdrawal through your company's payroll. By having direct deposit eliminates the hassle of having to do it manually yourself and shows a lender stability.
3. Make sure your credit remains the same or improves by:
- Checking the information on your credit report and make sure that it is accurate.
- Continue to pay down credit cards and keep your percentage of amount owed less than 30%
4. Keep in touch with your Real Estate Agent. Keep appointments and remain active in your House Hunting. Remember, it is a Buyer's Market and as a pre-approved Homebuyer you have the upper-hand and can take advantage of some great opportunities.
If you have all ready pre-qualified for a Home Loan, it is important for you to know that once you decide to put an offer in, you do not want your financial or credit situation to change in a negative manner. Doing so will have a negative effect on the amount that you will qualify for or even change your qualifications.
Shopping through the Holiday causes for homebuyers to be extremely discipline and display will power, but if done right you will be enjoying the Holidays in a brand new home! HO! HO! HO! Merry Christmas!
For a list of current listings or if you are interested in purchasing a home...contact your Mother & Daughter Realty Team Professionals! Happy Holidays!
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