How Much Should You Spend On A Home?

By
Real Estate Agent 647742

How much should you spend on a home?- Business Insider

This is a question I hear all the time! 

In this post-recession era, both Millenials, who were never really affected by the housing recession, and those who bought real estate in “04 through ’07 who got hit pretty badly are a litle skittish about buying, understandably.

This article may help some of you as you decide whether or not to enter the housing market and to help you develop a framework for your spending budget. 

Although most buyers may be able to get better rates than the chart displays, the information is still relevant.  Once you achieve your home buying price range, it is now time to go shopping!  Remember this... even if you can't find the perfect home initally, there are resources to make a good house your dream home.

Although there are homes that are priced very competitively which attract bidding wars, most homes in the Baltimore area are actually selling for somewhere around 95% of the original listing price.

In my area of Howard County, the percentage is actually a little higher, which is good news for sellers.

If you are ever looking for how much your home goes for or how much to offer or simply just real estate consulting services, please contact me at http://www.suburbanmdhomes.com/ 

Gary Ahrens

Comments (17)

Captain Wayne - Rowlett Real Estate School
Rowlett Real Estate School - Panama City, FL
Rowlett Real Estate School / Owner and Instructor

Welcome to ActiveRain. It's great to have you aboard. I hope to see more of your posts in the future.

Jul 20, 2015 07:19 AM
Mike Rock
Complete Design - Granite Bay, CA
Granite Bay Luxury New Construction...For Less

good monday gary, welcome to the rain... nice first post

Jul 20, 2015 07:27 AM
Thomas F. Scanlon
Borgida & Company P. C., CPA's - Manchester, CT
CPA, CFP

Gary Ahrens - Well done. Yes, that question must come up frequently. Welcome Aboard!

Cheers,

Tom

Jul 20, 2015 11:34 AM
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Our area(Silicon Valley), it is 106% of listed price, 120% in better schools.

Remember East Palo Alto movie(CA)?  Facebook hdquarter is not far away.

The sold/listed in EPA is 107% at $550/sf avg.  Across 101 in PA it is $1250/sf. Mark Zukerberg  paid $30M for his 5 br older home there.

 

Jul 20, 2015 11:52 AM
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

$30M may sound lucrative to a realtor until you find out top lawyers in that town( over 1,000++ in PA) would like to talk to you about representation....

 

 Lawsuit -Mark Zukerberg

Jul 20, 2015 12:01 PM
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Great post Gary, I generally like to see people pay at least 10% less than they can afford.

Welcome to Active Rain, looking forward to reading more of your posts, let me know if there is anything that I can do for you!

Jul 20, 2015 03:04 PM
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Gary Ahrens most people continue to want more than they can afford but the banks have tightened up and the reigns are tighter than they were previously....

Jul 20, 2015 09:19 PM
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

and welcome to ActiveRain.... keep those blog posts coming.... you'll enjoy working here....

Jul 20, 2015 09:19 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Best wishes for great success with your ActiveRain blogs.

Jul 20, 2015 09:48 PM
Gary Ahrens
Woodbine, MD

Thanks so much for all your kind comments.  My son, who is interning with us, has encouraged me to start blogging.  I appreciate all of you!

Jul 21, 2015 12:14 AM
Wenceslao Cortes
Charles Rutenberg Realty - Hudson, FL

Welcome Gary, A few buyers will look to see whats on the market before contacting a Realtor or a Mortgage Professional to learn how much they can actually afford,

Jul 21, 2015 04:55 AM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Gary - Understanding how much you should spend on a home as opposed to how much you can qualify for is an important part of buying.

Jul 23, 2015 03:08 PM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Gary - Welcome to the ActiveRain community, and congrats on your first post here.

Jul 23, 2015 03:08 PM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Please know that the ambassadors, those with the orange badges, are here to help if you have questions.

Jul 23, 2015 03:08 PM
Olympus Executive Realty Inc.
Olympus Executive Realty INC. - Orlando, FL
Home Of The Top Producers

Welcome to AR, Congrats on your first blog, look forward to all your future blog post. Its a great place to share your Real Estate thoughts and experiences. 

Aug 08, 2015 01:49 PM
Mery Fernandez Empire Network Realty Luxury Brokerage
Empire Network Realty INC. - Orlando, FL
The Rise of An Empire, Let's Build Yours!

Welcome to the world of Activerain, may your blogging  create a whole new chapter in your Real Estate Career.

Aug 12, 2015 12:44 PM