Let’s take a look a your finances before you start the home buying process. As outlined in home buyer checklists, home buying is not a go at it alone experience. You MUST assemble your team to reap the greatest success in the process. Among your team is an qualified sales agent(me), a mortgage team, a law team, and your accountant. So anything discussed in this section should be reinforced by your professional tax and law advisors.

The PRESENT

Start with determining you current financial condition.
1. Ask questions… Do you have money saved? Do you have a family member contributing to a down payment?
2. Talk to your accountant. Ask questions like “Would I save more money in income tax savings than I would pay in real estate taxes?” What are my benefits tax wise if I bought vs. rent?
3. Play with mortgage calculators like Zillow’s tool. Change different variables to determine monthly cost. What can you comfortably afford?

THE FUTURE

Where are you headed? Does the market look promising for your job? Does the market look promising for the area in which you are searching?