For the first time homebuyer, the transition from tenant to homeowner might feel perfectly natural… like a duck to water. But for others, it’s a bit more of an adjustment… Especially the financial implications.
With today’s low interest rates, it’s not all that unusual for the house note on your new home to be lower than what your rent had been. So how do you plan to spend those extra dollars left over each month? – New furniture? New car?
Whoa!! Hold on there big spender – SAVINGS FIRST.
Having just about wiped out your bank account on a down payment and closing costs, do you have enough set aside if the water heater goes out? And God forbid – What if we have a hurricane hit? Do you have enough to cover your insurance deductible? …Or do you even know how much that might be?
Home ownership is the American dream.
However, many first time homeowners don’t plan for the financial risks and obligations that come after the sale. Then suddenly they are face to face with a roof that needs replacing or the air conditioner that quits in the middle of July. It’s as if it took awhile for them to realize this isn’t just about lowering the monthly rent. There is sooooo much more.
So now you know you must set aside a few dollars each month for emergencies…. And that’s true no matter how perfect the new home is. And that said, I really do extend my
Best Wishes First Time Homebuyer! May you Enjoy Many Happy Years in Your New Home.
About Joyce Albert
Why you need a Real Estate Consultant, not just another Agent…
The difference between a real estate agent and a real estate consultant is the difference between someone who just wants to make a sale, and a professional who is willing to share with you their in-depth knowledge of the market in order to help you navigate one of the largest financial decisions of your lifetime.
In my career as a real estate consultant, putting my clients first is the hallmark of my success. So if you are looking for a true professional to help you buy or sell a home in the Greater New Orleans Area, please contact me. I look forward to woing with you.
Certified 203k Specialist
I am a certified FHA-203k Specialist - a program designed to assist buyers wanting to purchase distressed properties (hurricane damaged, repos, short sales) that require repairs or major rehab.
Accredited Buyer Representative (ABR)
Short-Sale & Foreclosure Certified (SFR)
Other Memberhips. . .
Louisiana Association of Realtors
New Orleans Metropolitan Assn of Realtors (NOMAR)
Gulf South Real Estate Information Network
National Assn of Realtors (NAR) of Realtors (NAR)
Real Estate Board of Accredited Buyer Consultants (REBAC)
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