As exciting as it is to start your journey towards home ownership (or even up- and down-sizing), there are a few things you should consider first.
Most importantly, you need to determine your purchase range. Having the proper budget for your future home is the best way to ensure future financial success! To create a proper budget, you need to look at your monthly income and expenses to determine how much you can afford in monthly mortgage payments. Download my Mortgage Toolbx app directly above this article and create a profile today to access all of the amazing features, including mortgage estimates and budgeting tools. From there, you can determine your purchase price! Ideally, it is best to try and find a home that fits your needs that is below your maximum budget, which will give you a lower mortgage payment and a little more financial freedom and security for the future.
Beyond determining what you can afford, you need to identify your housing needs. It is important to know that, unless you build it yourself, no home will have everything you are looking for. However, you can find a home with most of the things you want and all of what you need if you are able to be a little bit flexible and realistic about your deal breakers. You should have a list of your must-have items that you cannot do without, such as needing a second bathroom or a third bedroom for a growing family. Your list of must-have items, or needs, should be things you cannot change; flooring and paint color should never be on this list.
Once you have your list of needs and your budget, you can connect with me and begin the pre-approval process (more information on that below). I can also help to connect you with a real estate agent to begin your search.
Remember, whether it is your first or fourth house, home-hunting can be a process. Be prepared to revisit your list and homes several times to find the right fit. It is out there! As long as you stay within your budget, you will not only build equity in your new home but you will have a solid financial foundation to continue growing from.
Angela Calla is a 16-year award-winning woman of influence and mortgage expert. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. She educates and empowers individuals on the “The Mortgage Show”, which she’s hosted for over a decade and is the best selling author of The Mortgage Code available on Amazon. All proceeds from her book sales are donated to Access Youth Outreach services, a local charity in our community supporting our youth.
Angela leads by example with passion and conviction. She is known as an industry expert on TV and radio and the go-to source for publishers across the Country. On top of all her achievements, Angela finds the time to be a loving wife and mother of two beautiful children.
For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at firstname.lastname@example.org or 604-939-8777.