Living within your means

Posted By Lindsay Faircloth @ Nov 8th 2011 9:40pm In: Posts for Buyers

How many of you have heard this phrase before? Now how many of you apply it to your lives? Real Estate is a great investment but it is also very rewarding to be a homeowner. While the Myrtle Beach real estate market is different from others, they all still have one thing in common, opportunity. Whether you are an investor or homebuyer there are opportunities for you around every corner. So what’s the key to finding the right property and NOT losing it? Stay within your means!!

Most people create a list of things that they need in a home. I bet you have done the same thing, right? Take a good hard look at that list. How any of your “needs” are actually wants? This is where we go off track. In this market you know that you need to have your pre-approval, this tells you how much you can spend and how much your payment will be. Only, how do they know how much you can afford? They looked at your credit right? Everything is on there and they know how much money you have coming in and going out each month so you’re good. WRONG! Think about the things that are not included in that. Gas for your car(s), car insurance, life insurance, health insurance, groceries, utilities, doctor bills, dentist visits, etc. Always be sure that YOU know how much you can afford.

It may take a little longer to find that perfect house that meets all of your needs and your wants but you will be better off in the end if you know your budget and stay in it.



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