The Congressional Team's Blog
Establishing a homebuying budget can be tough. But for those who want to secure a terrific home at an affordable price, entering the housing market with a budget in hand can make it easy to accelerate the homebuying cycle.
Now, let's take a look at three questions to consider about a homebuying budget.
1. How much money have I saved for a home?
Examine your finances and see how much money is readily available for a home purchase.
Remember, the more money that is at your disposal, the more likely it becomes that you'll be able to secure your dream residence in no time at all.
Although savings are important, it is essential to note that those who have little to no money saved still have plenty of time to get ready for the homebuying journey. And if you start saving a little bit each day, you can move closer to accomplishing your homeownership dreams.
2. Do I need to get a home loan?
In most instances, a homebuyer will need to obtain a home loan so he or she can purchase a residence. Luckily, many lenders are available to help you discover a home loan that matches or surpasses your expectations.
Meet with a variety of lenders in your area – you'll be glad you did. Each lender can provide insights into assorted home loan options, explain how each home loan works and respond to your home loan concerns and questions.
Also, it often helps to get pre-approved for a mortgage. If you have a mortgage available when you enter the real estate market, you'll know exactly how much you can spend on a residence, thereby reducing or eliminating the temptation to overspend on a house.
3. How will my monthly expenses change after I buy a house?
Owning a home is different from renting an apartment. As such, you'll want to account for all potential expenses as you create a homebuying budget.
For example, a homeowner will be responsible for any home cable, internet and phone bills. This property owner also will need to consider any home maintenance costs like those associated with mowing the lawn in summer or removing snow from the driveway in winter.
Crafting a homebuying budget that accounts for your personal finances can be tricky. If you need additional support along the way, lenders may be able to provide expert tips to ensure you can acquire a wonderful house without exceeding your financial limitations.
Lastly, don't forget to reach out to a real estate agent for help along the homebuying journey. A real estate agent is a housing market professional who will go above and beyond the call of duty to assist you in any way possible. From setting up home showings to negotiating with home sellers on your behalf, a real estate agent will make it easy for you to secure a superior home at a budget-friendly price.
Consider the aforementioned homebuying budget questions, and you can speed up the homebuying process.
Are you finally taking up the challenge to clean your fridge after many weeks or months or glossing over it? Kudos to you. Not sure of how to begin? Follow these simple steps.
First of all, remove the contents of the fridge before starting. An empty fridge makes cleaning it a lot easier for you. You should also take out all the removable pieces like shelves and drawers and soak them in a pan of warm water and dish soap for a few minutes. Wipe, rinse and dry them when you are ready.
Clean up all the surfaces in the fridge with a soft washcloth using warm water and dishwashing liquid. Make sure you sue a particle that won't leave particles in your fridge. If there are particularly strong stains, apply a mixture of baking soda and water to it for about an hour before wiping down. Baking soda will also help get rid of stubborn odors and smells, leave a small bowl with a handful of baking soda in it at the bottom of your fridge and watch it absorb any odors.
When you finish cleaning, then it's time to organize your fridge to make it easy to find whatever you need. Place items that require no cooking such as canned foods or leftovers at the top while everything else is organized downwards based on the cooking temperature. This design is to help prevent cross-contamination from happening. The door is the warmest part of any fridge so only put condiments and things that cannot go bad there. The upper shelves should be used for drinks and ready to eat foods like yogurt and cheese.
Label foods in clear containers so you can see what contains what. You can put similar food items in baskets, so they are easy to reach. Put fruits in the lower drawer, leaving them in a plastic bag. Don't wash them before use as the moisture may promote the growth of bacteria. For more storage space, hang suction baskets on the walls of the fridge and fill them with little items that might otherwise be lost in the refrigerator. You could also buy detachable magnets and glue them to the underside of small plastic containers and attach them to the side walls of your fridge.
Visit your local supermarket for more options of additional storage bins you can incorporate into your fridge.
Let's face it – reviewing an offer to purchase can be difficult. And if a home seller feels unsure about a homebuying proposal, this individual may want to consider rejecting the offer to purchase.
Ultimately, there are many reasons why a home seller may decline an offer to purchase, and these include:
1. An offer to purchase fails to meet a home seller's expectations.
If a home seller receives a "lowball" offer to purchase, he or she may submit an instant rejection. In fact, this seller likely will have no regrets about declining the offer to purchase and continuing to wait for a homebuying proposal that matches his or her expectations.
As a home seller, it is vital to establish realistic property selling expectations before you list your residence. If you set a competitive initial asking price for your home, you may reduce the likelihood of getting lowball homebuying proposals. And as a result, you may be better equipped than ever before to speed up the home selling journey.
2. A home seller has multiple offers to purchase at his or her disposal.
If a home seller receives multiple offers to purchase his or her home, this individual likely has a tough decision to make. Fortunately, a seller can review his or her options and make an informed decision.
When a home seller receives several offers to purchase his or her residence, there is no need to rush to reject or accept a proposal. Instead, a seller should evaluate each homebuying proposal closely and use all of the information at his or her disposal to determine the best course of action.
3. A home seller can afford to wait.
If a home seller lists his or her residence in a buyer's market, the demand for houses may be limited. Conversely, if a seller lists a home in a seller's market, this individual may receive many offers to purchase as soon as his or her residence becomes available.
Sometimes, a home seller who can afford to be patient may choose to reject an offer to purchase in a buyer's market, even if the proposal is competitive. Because if the seller waits for the real estate market to improve, this individual may be able to optimize the value of his or her residence at a later time.
For home sellers who are committed to getting the best price for a home, it generally is a good idea to employ a real estate agent. This housing market professional will help a seller establish a competitive initial asking price for his or her residence. Plus, a real estate agent will set up open house events and home showings to promote this house to potential buyers. And if a seller receives an offer to purchase, a real estate agent can recommend whether the seller should reject, accept or counter the proposal.
Want to list your house and streamline the property selling journey? Hire a real estate agent, and you can work with a home selling expert to evaluate any offers to purchase your residence.