I'm freaking out about the money! |
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I can't stop worrying over money.
How can I get some peace of mind? |
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| Answer: A home is typically the single largest investment in a person's life, so it is only natural to be nervous. To put your mind at rest, try these steps: |
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| May be the best thing you can do! |
| Make sure you have an Shreveport Bossier City Realtor® - real esate agent that involves you in the process. The best agents understand how uncertainty can cause anxiety. They keep their clients updated with the latest information. Their clients are not calling asking about the results of appraisals, home inspections or any other step in the buying process. Good agents have systems and a support staff to make sure the process in transparent. |
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| MAIN OFFICE® real estate agent professionals are experienced in keeping the real estate process transparent. When you're ready, we'll be there. |
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| Think about it for a moment. If an agent is knowledgeable and skilled enough to manage the whole process - has provided you with accurate information to make good decisions with - you're probably in good hands. A comforting thought at times like these. |
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| > Determine a suitable price range by subtracting all your non-housing monthly debts and expenses (e.g. credit card and loan payments, tuition, transportation, food, clothing) from your monthly income to calculate how much income can be applied to housing expenses, including mortgage payments, real estate taxes and insurance. As a rule of thumb, this "housing" amount should be no more than roughly 30 percent of your total monthly income. An affordability calculator can help you understand how much house you can buy in your current financial situation. |
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| > Consult a financial advisor or talk with a MAIN OFFICE® real estate agent professional to review your numbers before you go to a lender for a mortgage application. |
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| > Expect the unexpected. Be sure to put aside some money for closing costs and home repairs that may be needed. Knowing you have this "emergency kitty" set aside should help calm some of your nerves. |
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| > If you are still concerned, consider scaling back your price range for greater peace of mind. But remember this may require you to move again just a few years down the road to a larger home or one with a better location. |
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| > Remind yourself of all the benefits of Shrevepor Bossier City home ownership (tax breaks, a sense of comfort and safety, investment, sense of accomplishment.) Try to focus on the positives of owning your new home and know that some nerves are just part of the process. |
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