Tag Archives: home purchase

Budgeting for a First Home

Do you want to buy your first home, but have too much debt? An overload of debt can hurt your ability to buy a home in many different ways: cash flow, credit score and loan approval. If you desire the opportunity to buy a home, try this plan to help you get there. Start by first determining the amount of money you will need to borrow in order to buy a home in your area. Basically preview the prices of homes you think you could be satisfied with, and deduct any amount you have saved for a down payment. Then … Continue reading →

Spend as Little as Possible on Your Home

To really maximize your investment and improve your overall financial picture, you should actually spend as little as possible on your home. Instead of finding out the maximum your mortgage broker will allow you to borrow (as so many people do), you should figure out the minimum house that will satisfy your needs. Not only do homes in the lower price points tend to increase in value the most, they also allow you the most disposable income in reduced house payments. This additional money each month can be invested in more profitable endeavors, or simply allows you to live with … Continue reading →