Follow these tips and expert insight to help you get your budget in order and get yourself ready to buy your first home.
1. Organize Your Finances
You may know how much you have in your bank accounts, but do you know how much you spend on household expenses and luxuries each month? Or which credit card has the highest interest or balance?
Getting a good handle on your money starts with a clear idea of where your money is going. This info will also help you determine what you can afford and your homebuying timeline. Start by breaking down your finances into the following categories:
2. Do the Math
Before setting homebuying goals, figure out how much you can afford by crunching the numbers. Here are five steps to figure this out:
3. Set Goals
While the overall goal is to buy a home, setting smaller goals will help you stay on track and motivated until you can finally buy.
As you set goals, remember that you don't need to just on saving. You may also need to cut back on other expenditures. Here are a few goal ideas to consider:
4. Update Weekly & Reassess Regularly
The final step is holding yourself accountable to your goals and regularly updating the budget. Remember that a budget is fluid, and many "things" will come up and throw it off. If you make an unplanned purchase, add it to your budget and readjust how much you can save that month.
That's okay! As long as you stay focused on the goals you've set for yourself. If you go over budget one week, reel it in the next week so you can stay on track for the month.
Still unsure how to navigate the financials of the current housing market as a buyer? Experienced loan originators at our office are ready to help make your homeownership dream a reality.
We've been helping customers afford the home of their dreams for many years and we love what we do.
Company NMLS: 235599
Real Estate Broker – CA Dept of Real Estate – Lic #01851459 – NMLS #235599
140 Litton Dr Suite 208
Grass Valley, California 95945
Nevada County Mortgage strives to ensure that its services are accessible to people with disabilities. Nevada County Mortgage has invested a significant amount of resources to help ensure that its website is made easier to use and more accessible for people with disabilities, with the strong belief that every person has the right to live with dignity, equality, comfort and independence.
Nevada County Mortgage makes available the UserWay Website Accessibility Widget that is powered by a dedicated accessibility server. The software allows nevadacountymortgage.com to improve its compliance with the Web Content Accessibility Guidelines (WCAG 2.1).
Nevada County Mortgage accessibility menu can be enabled by clicking the accessibility menu icon that appears on the corner on the page. After triggering the accessibility menu, please wait a moment for the accessibility menu to load in its entirety.
Nevada County Mortgage continues its efforts to constantly improve the accessibility of its site and services in the belief that it is our collective moral obligation to allow seamless, accessible and unhindered use also for those of us with disabilities.
Despite our efforts to make all pages and content on Nevada County Mortgage website fully accessible, some content may not have yet been fully adapted to the strictest accessibility standards. This may be a result of not having found or identified the most appropriate technological solution.
If you are experiencing difficulty with any content on Nevada County Mortgage website or require assistance with any part of our site, please contact us during normal business hours as detailed below and we will be happy to assist.
If you wish to report an accessibility issue, have any questions or need assistance, please contact us by sending an email to: email@example.com