Coco, Early Associates/Salem

Know What You Want and Can Afford in a New Home

by Marion White 05/26/2019

When you decide to make an offer on a home, your mind may be flooded with dozens of questions and concerns -- several of which may involve money matters, while others are about the condition of the house.

However, if you've had the house professionally inspected and made sure your income is sufficient to absorb monthly expenses, than you've already taken steps to prevent or at least minimize future challenges.

Since buying a home is such a big investment and there are so many emotional factors that could influence your decision, it's essential to stay focused, adhere to a budget, and be aware of what you need in order to be satisfied with your purchase.

The Financial Side of Things: Even though a mortgage broker or loan officer may approve you for a large mortgage, only you can determine whether you'd be comfortable making those monthly payments. In  addition to the cost of your mortgage, property taxes, and school taxes, there are also other expenses to consider and include in the equation. If you're moving into a larger house, for example, the cost of heating and/or cooling your home may be higher than you're used to. Poorly insulated houses can also have a negative impact on home energy costs.

Another key factor to think about when you're figuring out the affordability of a potential new home is property maintenance, the cost of HVAC service, and miscellaneous expenses, such as appliance repairs, plumbing leaks, and electrical services. Some neighborhoods, residential developments, and condos also require a monthly Homeowner Association (HOA) fee, which can potentially put a burden on your cash flow situation. A good rule of thumb, of course, is to avoid spending beyond your means. While nobody would dispute the logic of that advice, it's often a lot easier said than done -- especially on an ongoing, consistent basis.

Non-Financial Priorities: The only way to know what you truly want and need in a new home is to clarify your goals, requirements, and wishes. Making lists, discussing it with your partner, and visiting lots of homes for sale will help give you the ideas, the inspiration, and helpful points of comparison you need. Online real estate listings and home improvement websites can also provide a wealth of practical ideas.

In addition to having enough bedrooms and bathrooms to meet your family's needs, it's also important to feel comfortable with the quality of the school district, the amount of noise in the neighborhood, and the traffic level on nearby streets. Proximity to recreation, shopping, and other amenities can also make the difference between your ideal home and one which doesn't quite make the grade. Privacy (or the lack, thereof) is also a major issue which can impact your satisfaction with a real estate purchase. While it's good to approach home buying with a sense of optimism, the best time to weigh all the pros and cons is before you sign the final papers at the closing table!

About the Author
Author

Marion White

As a full-time and results-driven REALTOR, with high expectations for myself, I am committed to helping you buy or sell a home.  I thrive on goals, challenges and results.  My effort, determination and commitment will remain steadfast throughout the process.  I have 21 years of Residential Real Estate experience.  I have been a resident of Plaistow, NH for 43 years with 2 Children and 3 Grand Children, I enjoy the game of Golf as a player and spectator as well as Football and Baseball.  I carry a multi-faced background and professional approach to Real Estate.  My professional affiliations include:

     *New Hampshire Association of Realtors

     *Granite State South Board of Realtors

     *Northern New England Real Estate Network (NH MLS)

     *Massachusetts Property Information Network (MA MLS)

     *Showcase of Homes on Realtor.com

Welcome to your resource for your southern New Hampshire, Rockingham County and Essex County Massachusetts real estate needs! If you are seeking a licensed REALTOR® that provides professional representation and a high caliber of service, I specialize in providing customers/clients with personalized service in finding both a home and a community that meets their needs. Whether you are a first-time Home Buyer, Relocating or Purchasing or Selling, I welcome working with you!  That means finding the exact home you're looking for, or selling your home promptly and for the best price. It means not having to worry, even if you're new to the real estate arena, or if you're moving thousands of miles away.

You need an experienced professional. I will put my knowledge and experience to work to help you make your move pleasant one. Make your choice wisely. The agent you choose will help you make many important decisions. No one will work harder or more professionally.  Effective at communicating, marketing, negotiating and selling real estate for clients,  As a full-time REALTOR®, and long-standing resident of New Hampshire, I am committed to achieving your real estate objectives and goals with the highest professional standards. I take great responsibility in the your most important financial investment with me 

With 17 years of Residential Real Estate experience I believe in keeping my clients well-informed throughout the real estate transaction, in order to allow you to make informed and educated decisions. I make myself available to my clients by phone, e-mail and text, all calls or correspondence are returned promptly.

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We are a professional business network group where it's sole purpose is to help generate referrals, tips, leads and clients your advertising dollars may not be bringing your way. Our sole purpose is to put "Dollars In Your Pocket" with qualified referrals and warm leads.

Marion J.White,  Licensed REALTOR® New Hampshire & Massachusetts, Coco, Early & Associates 

Thank you for utilizing my website as a resource for your real estate needs and I look forward to hearing from you!