Your Budget Isn't Made to be Broken #budget #buyingahome #homebidz

Your Budget Isn’t Made to be Broken

Although it may be tempting at first, if you are a first time home buyer, or a veteran to buying a home, it is never a good idea to go over what your set budget is. There are many reasons why this is an important note to remember during your home search.

Your Monthly Payment

When you set a budget, you have already factored in what you will need in order to be able to make your monthly mortgage payments. If you go outside of the budget that you have set, that means that you will come up short when it comes time to pay one of your bills. More often than not, it is usually the mortgage payment.

Be Prepared for Emergencies

Another reason you should stick to your budget is the fact that there will always be surprises that will come up when it comes to your expenses. Owning a home also means that you will be paying the money out of pocket for any type of repairs or even simple fixes that must be completed. Considering this is an ongoing process with a home, it is better to save money early so you will have it when you need it.

Get Help

If you are having trouble sticking to your budget, you can enlist the help of a real estate agent. First time home buyers benefit from having a real estate agent because they will search for homes that are specifically within your budget range. They are able to find great homes at great prices, all while keeping you within your budget. As a final thought, remember that you will have a number of different bills that must be paid outside of what you factor into your budget. Groceries, doctors visits, and gas are just a few bills that can add up each month.

Latest Posts

The Art of Changing Realtors When You Need to via @homebidz

The Art of Changing Realtors When You Need to

First Time Home Buyers Click Here Finding a realtor can be kind of like dating. There are a ton of them, each with their own set of pros and cons, different areas of expertise, etc. So, when you start forming a...
Loans, Fees, and the Real Cost of Owning Your Home via @homebidz

Loans, Fees, and the Real Cost of Owning Your Home

Need a Home Loan? We know this may come as a shock, but that home that’s for sale for $350,000 will actually end up costing about $575,000 over time. How? Between the interest rates, insurance, property tax, and...
Rent to Own vs. Traditional Mortgages via @homebidz

Rent to Own vs. Traditional Mortgages

Need an FHA Loan? It’s no secret that most people seek out rent-to-own home options over traditional mortgages because of credit issues: either their credit is fair or poor or simply just unestablished. Depending...
Why Does My Credit Matter? via @homebidz

Why Does My Credit Matter?

Click Here to Look at Bad Credit Home Loans Honestly, if you have less than perfect credit, you can still potentially buy under a rent to own option, but you still have to get financing at some point, so you'll need to...
Taking the First Step on Your Rent to Own Journey via @homebidz

Taking the First Step on Your Rent to Own Journey

Looking for Rent to Own? When considering a rent to own journey, there certainly are a couple different choices. Each requires the rental property itself, two authorized documents, and then -- sometimes -- an...
Simple Ways to Save for Your Down Payment via @homebidz

Simple Ways to Save for Your Down Payment

Need Family Support? There are a lot of different ways to purchase a home. You can get creative and try owner-financing, or even buying a home at an auction. For the majority of us though, we’re still using banks and...

Categories