24.-Do-not-max-out-your-budget_1

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Buyer Tip – Do not max out your budget!

Maxing out your home buying budget can be tempting especially after pre-approval, but it can also cause plenty of financial risk down the road. Making sure you leave yourself enough room for other financial goals is sure to help you in the long term.

A rule of thumb to keep in mind when purchasing your home is not to max out your budget! Stick to a home buying budget that is comfortable for you in your current position.

Remember, The bank will review your financial portfolio to determine the maximum mortgage amount you qualify for. Do not use your entire life savings when purchasing a home. Remember, you will also need to put some money aside to cover potential closing costs, taxes, insurance repairs, and monthly bills.

Unsure of your options? Reach out to me with your questions!

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Justin Hemker

Justin Hemker is a North Carolina licensed real estate broker whose real estate experience dates back to 2003 when he was first licensed in Michigan as a real estate salesperson. Almost two decades later, Justin has seen how the industry has changed from paper MLS books and print-marketing, to the digital-dominant marketing of today. Putting his Web Technologies background to work, Justin strives to bring the highest caliber of real estate service to Triangle-area home buyers and home sellers of every price point.

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