Dont be house poor!!

Managing Real Estate Broker with CORNERSTONE REALTY LLC

After many years of working with buyers of real estate the one major oint of advice I have each client is Do Not get in over your headn and DONT BE HOUSE POOR. Buyers, even though you feel have found the home of your dreams, step back and look at the complete and entire picture. Go over your finances carefully and talk with your mortgage lender to go over each and every option you have on buying the home. You do not want to get into the home purchase, close on the home and three months down the road your struggling to make your payments and making ends meet. This adds major stress to your lives and you will feel as if your sinking fast in quicksand each month as you struggle with your payments.

Go over your finances carefully and leave room with your budget for cicumstances beyond your control. Leave room in your budget and your payment to be comfortable. Only you know what that comfort zone is. Think and act carefully and accordingly. Talk to your Realtor about mortgage rates and financing options that will suit you and your family best! Happy House Hunting! Http://

Comments (2)

Rick DeGroff

Great blog Jeff.  You are right on the money with your evaluation.   One thing I teach my flight students about evaluating the weather before a flight, is that it is always better to be on the ground wishing you were in the sky, than it is to be in the sky wishing you were on the ground!    I advise my mortgage clients of a similar policy; it is better to wish you were in a more expensive house and not be, than it is to be in a more expensive house and wish you weren't!    Great job my friend.  Keep up the good work!

Nov 20, 2012 07:48 AM
Todd Clark - Retired
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

Welcome to Activerain and I hope you are learning a lot and if you ever need any assistance, don't hesitate to check out my blog, email me, call me, I will be glad to help you in any way possible. Also, check out the main page of Activerain and look for the Activerain University tab, there are lots of educational webinars to help you build your business.

Nov 21, 2012 12:20 AM