*    Realty One Group Elevations   *  18951 E Main Street Ste D * Parker, CO 80134   *   970-593-8500     colin@creeproperties.com
Colin Cree Realtor
  • Home
  • About
    • Meet Colin Cree
    • Our Team
    • Testimonials
  • Buy
    • Property Search
    • My Listings & Sold Homes
    • Buying
    • Financing
    • Loan Payment Calculator
  • Sell
    • Selling
    • Home Valuation
  • Communities
    • Denver
    • South Denver Area
    • West Denver Area
    • East Denver Area
    • North Denver Area
  • Resources
    • Blog
    • Recommended Vendors
    • Market Statistics
  • Contact
  • Relocation
  • Coaching
  • Home
  • About
    • Meet Colin Cree
    • Our Team
    • Testimonials
  • Buy
    • Property Search
    • My Listings & Sold Homes
    • Buying
    • Financing
    • Loan Payment Calculator
  • Sell
    • Selling
    • Home Valuation
  • Communities
    • Denver
    • South Denver Area
    • West Denver Area
    • East Denver Area
    • North Denver Area
  • Resources
    • Blog
    • Recommended Vendors
    • Market Statistics
  • Contact
  • Relocation
  • Coaching

Three Major Mortgage Mis-steps

7/17/2017

 
Picture
 
Buying a home is one of the biggest financial investments you'll make in your life, and it's important to make sure that you're doing what will be right for you down the road. If you're trying to avoid buyer's remorse and are wondering what major missteps to avoid when diving into the market, here are a few things you may want to watch out for.
 
Buying Too Much Home
 
It's often the case that a homebuyer will get so excited about a home they see that they need to have it, but putting all of your money into one investment can be difficult to sustain over time. Instead of deciding to budget and buckle down on your expenditures, ensure that your monthly budget still leaves room in the event of other expenses or financial setbacks. This will ensure that your home stays as something you can enjoy that won't become a burden.
 
Not Saving Up Enough
 
Many people want to invest in the market right away and get into a home, but it can often be worth the wait to save up so that you have at least 20% for a down payment. Putting 20% down on a house means that you won't have to pay the added costs for Private Mortgage Insurance (PMI). Not only can this lead to smaller mortgage payments on a monthly basis, it also means that you'll be able to pay off your mortgage loan that much more quickly. 
 
Forgetting All The Associated Costs
 
It's easy to be wooed by the cost of the monthly payment and think that it's less expensive than you thought, but it's important not to forget about all the other costs that go into owning a home. In addition to the closing costs of home ownership, there will also be property taxes, homeowner's insurance and the maintenance fees required for home upkeep. If the monthly mortgage payment is already pushing it, costs like these can throw your overall cost into unmanageability.
 
There are many mistakes that can be made when it comes to purchasing a home, but by being aware of all of the costs of home ownership and taking the time to save up, you'll be well on your way to owning a home that's affordable and sustainable. If you're getting prepared to delve into the real estate market, you may want to contact one of our mortgage professionals for more information.


Comments are closed.

    Archives

    October 2019
    August 2019
    July 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015

    Categories

    All

Colin Cree

Home
About
Buy
Sell
Resources
Blog
Contact

Communities

Denver
South Denver Area
West Denver Area
East Denver Area
North Denver Area

Contact

Email
970-593-8500

© COPYRIGHT 2015. ALL RIGHTS RESERVED.