Don't Settle When You Settle Down

The trend in home shopping right now is “find the worst home in the best area,” thank you Fixer Upper. But what about finding a nice home in a high priced area? If you live in the most expensive cities like NYC or Boston, or pretty much the whole state of California and Hawaii, this will be no shock for you. Right now, the median home value in NYC is $660,000, $594,600 in Boston, $619,000 in Hawaii, and $550,800 in California. These are the most expensive real estate markets and that completely blows my mind. Owning a home is one of the biggest financial goals many people have. It can be done in a nice area!

Timing!

Make sure this is the right time for you! When buying a home, things have to be in place in your life. It is one of the biggest commitments you will make, and trust me, I can’t even commit to what I want to have for dinner tonight. You don’t want to jump right into buying a home. It takes time, patience and true commitment.

Look at ALL YOUR OPTIONS

I know it is easy to get stuck on a neighborhood, or a style of a home and think “this is what I want” I don’t want to look anywhere else,” but you have too! Look at ALL of your options. Don’t get stuck on just one neighborhood. When looking for a home you have to consider all the factors, location, commute time to your job, school districts if you plan on having children, how close are you to a grocery store. So many things come into play when you are looking for a house, and make sure you look at them all!

Save Save Save

There is no doubt that buying a home costs the big bucks. This is something that needs to be thought out. Definitely saving should be top on your priority list. There are daily things you can do to save a bundle. Try cooking dinner more a week rather than going out to eat, I know Starbucks is tempting every morning, but even just having your morning coffee at home will add up over time. See what little things you are spending money on and how you can cut back even a little.

Maximize your Credit Score

Did you know the higher your score to a certain point (about 760) the better your mortgage interest rate you will receive? Building up your credit takes time, so it is definitely something you should think about a few years before you settle down and purchase a home. The better credit you have, the lower you can get a down payment program. The lower you can get your mortgage interest rate to be, the more home you can buy for what you can afford every month. Go big or go home, right?!