Buying a home is a significant expense. It doesn’t matter whether you’re a first-time buyer or have experience. Unless you have a large pile of cash, you’ll need to ensure your finances are in order before closing. In this post we’ll explore four financial items you’ll want to check off before buying a new home.
Figure Out Your Current Monthly Budget
First, you’re going to want to sort out your monthly budget. If you’ve never done a budget before, start with something basic. Open up a spreadsheet or take out a piece of paper. Make two columns: ‘income’ and ‘expenses’. Fill in each column with the amounts that you make or spend each month. Bank, credit card and other statements can help with this process. It’s a good idea to go back at least 3 months to ensure you’re capturing your true spending.
Make A Debt Management Plan
Do you have any debts? If so, you’ll want to make a plan for how you’re going to manage these when you buy a new home. For example, you may have a car payment, student loans, a line of credit or credit card debt. Write down your debts, how much you owe and when payments are due. If any debts are due monthly, make sure you include those in your budget.
Keep in mind that your outstanding debts may impact your ability to borrow for a mortgage as well. If you plan on taking out a mortgage to pay for your new home, it’s best to get your debts figured out beforehand.
Understand All Your Real Estate Costs
Next, you’ll want to determine what all your real estate costs are going to be. If you’re not yet close to the bidding or closing process, this might be a bit challenging. But ask your real estate agent for a breakdown of what you can expect to pay for a home in your price range.
Set Up An Emergency Savings Cushion
Finally, you’ll want to set up a financial cushion in case of emergencies. It’s not much fun to think about, but losing a job or having a health event is possible. Most financial experts recommend having at least six months of expenses saved up. Of course, this is always easier said than done. What’s important is that you have at least some cash tucked away, just in case. If you can, save a bit extra each month or from each pay check and add to this emergency fund.
When you’re ready to buy a new home, a licensed real estate agent is your best bet for success. Give me a call today and learn more about how affordable a new home in your community will be! J.P. Cook – 602-320-4253.
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32783 N Slate Creek Drive
San Tan Valley, AZ 85143
$469,990
4
Beds
3
Baths
2,808
SqFt
Status
Active
MLS #
6654901
Property Type
Single Family Residence
Price Type
--
This newly updated home showcases stunning new updates, tons of versatile space, a redesigned kitchen, and all new backyard landscaping. The goodies don't stop there. It also boasts a 3-car stacked pull through garage to the backyard and NO REAR NEIGHBORS. As you make your way into the home you are greeted to all new vinyl flooring, 5-inch upgraded baseboards, and freshly painted walls for a sleek finish. The downstairs library provides an enclosed sanctuary that can be used as a fourth bedroom for guests, and the upstairs loft provides additional versatile space. The updated kitchen opens up to the family room and provides a large center island with drop-in sink, quartz countertops, updated cabinets with hardware, and stainless-steel appliances. Upstairs, you will find the comfort of all NEW CARPETING and three additional bedrooms, all equipped with walk-in closets. The main bedroom offers a large retreat with a reading nook as well as an en-suite that boasts a JACUZZI tub and separate shower. One of the most appealing attributes about this home is its lot location - no homes behind you, ensuring privacy and an unobstructed view of the Superstition Mountains. Don't miss the chance to call this home yours.
11810 S 173rd Lane
Goodyear, AZ 85338
$469,990
3
Beds
2
Baths
1,841
SqFt
Status
Active
MLS #
6663445
Property Type
Single Family Residence
Price Type
--
Situated on a homesite facing sweeping views of the Estrella Mountains. This beautiful home boasts 3 large bedrooms and a private enclosed study. The open-concept kitchen includes ample countertop space, built in appliances, designer backsplash, a center island, and an expansive walk-in pantry. Host your next dinner party in the open dining and great room then transition to the covered back patio for dessert and a nightcap. Additional highlights include wood like tile, 8' interior doors, 5.5'' floorboards and pavers at the driveway, walk and entryway. Located within the Estrella masterplan with 2 state-of-the-art Residents Clubs including fitness centers and pools, Starsplash Water Park, and a community lake with activities including boat rentals.
1005 E Tempe Drive
Tempe, AZ 85288
$469,990
3
Beds
2
Baths
984
SqFt
Status
Active
MLS #
6670125
Property Type
Single Family Residence
Price Type
--
Renovated top to bottom and Cute as a button home in a great North Tempe location! Almost everything is new, AC, windows, kitchen cabinets, counter tops, vanities, flooring, paint, appliances.... This lovely block home has NO HOA and features 3 bedrooms and 2 full baths on a huge Multi-family zoned lot with the potential to expand or build another house.. Minutes to shopping, restaurants, Scottsdale Rd and 202.
5540 W Alta Mesa Avenue
Laveen, AZ 85339
$469,990
3
Beds
2
Baths
1,953
SqFt
Status
Active
MLS #
6681357
Property Type
Single Family Residence
Price Type
--
Come see this well-thought-out single-story home. With 3 bedrooms plus a den and 2.5 baths with almost 2,000 square feet this home offers just the right amount of space. You drive up to a cool craftsman exterior with paver driveway that provides the most darling front porch area outside where you can enjoy your morning coffee. You walk inside the home through a large 8ft exterior door and inside where the ceilings are 9 ft, creating a very grand space. This home features our Harmony design palette that includes wood style ceramic plank tiles everywhere except the bedrooms and den. This split floorplan and open concept is an entertainer's dream. You walk into a large open concept great room, kitchen, and dining space.
31991 N Rider Drive
San Tan Valley, AZ 85143
$469,990
4
Beds
3
Baths
2,200
SqFt
Status
Active
MLS #
6681461
Property Type
Single Family Residence
Price Type
--
Explore the elegance of the Sunflower Floor Plan at Bella Vista Farms by Ashton Woods. Stunning 4bedroom, 3bath residence featuring an open floor plan with a guest retreat. The exterior features our contemporary farmhouse Elevation, and a convenient 2-car tandem garage. Modern kitchen, inviting living spaces, and a private master suite make this home both elegant and functional. Stainless steel gas appliances, 8 foot doors, and upgraded interior features makes this house both charming and functional. Don't miss out on this opportunity! Move-In Ready with Washer Dryer & Fridge!
9420 W Morrow Drive
Peoria, AZ 85382
$469,989
2
Beds
2
Baths
1,603
SqFt
Status
Active
MLS #
6689983
Property Type
Townhouse
Price Type
--
*FULLY FURNISHED!* ALREADY INSEPCTED! HOME WARRANTY INCLUDED (because we care about you)! Located in the best part of Westbrook this VERY WELL APPOINTED home! REMODELED REMODELED REMODLED! All the bells and whistles are included, like furniture, linens and cookware! All yours! Comes full or partially furnished, with very nice furniture and appliances... GORGEOUS! All Granite counters- stainless appliances- with Induction cooktop- upgraded cabinets and 2 pantries! All new Dual pane windows, custom colors and wood floors! Modernized Bathrooms with HUGE walk in showers, taller Granite vanities, and a ''recirculating pump'' keeps the hot water at the shower for you, means INSTANT HOT WATER! WAIT TILL YOU SEE THE MASTER ROOM!!! The AC is new in 2017, and W&D stay! SEE DOCS FOR INSPECT INSEPCTED 2 MO AGO AND WE NEVER MOVED IN! FREE FOR YOU-SEE DOCS TAB. The most adorable back patio, with fruit trees, and BIG beautiful shade trees the HOA maintains for you! Gotta come see! $5k LESS ON PRICE IF YOU DONT WANT THE FUNITURE! My seller just bought this home 6weeks ago and has to sell...give us your best offer... this home offers all furniture, towels, linens, cook ware, utensils, EVERYTHING! Just bring your toothbrush as its been said. Hurry!! We are taking a loss, but your gain!
15829 W Hackamore Drive
Surprise, AZ 85387
$469,900
3
Beds
2.5
Baths
2,052
SqFt
Status
Active
MLS #
6664868
Property Type
Single Family Residence
Price Type
--
Everything is stepped up on the McCormick floorplan at Mason Ranch! 3 CAR GARAGE!!! This home is a true stunner with 10 ft ceilings, 3 Bedrooms, 2 and a half Baths, enlarged Kitchen with White Shaker Cabinets thru-out w/ 42 inch Kitchen uppers, Walk-in Pantry, Stainless Steel Whirlpool appliances with Gas Range, 24x12 staggered modern ceramic tile, Super-sized Kitchen Island, all with beautiful quartz kitchen tops in the kitchen area. ALL of which overlooks a massive Great Room! Each bath has been modernized with square sinks and marble-like shower wall panels! Exquisite! ALL of our homes include SMART Home technology. This home is ready for move in!
16461 W Yucatan Drive
Surprise, AZ 85388
$469,900
3
Beds
2
Baths
2,180
SqFt
Status
Active
MLS #
6672354
Property Type
Single Family Residence
Price Type
--
Don't miss this gorgeous single story home with many upgrades. This 3 bedroom and 2 bathroom home has an open floorplan. It is located in Sycamore Farms with many great parks and close proximity to restaurants, shopping and entertainment. This home has neutral paint, new carpet- 2022, new hot water heater in December 2023, new artificial turf was installed this past spring- 2023. This home has granite counter tops in the kitchen with raised cabinets, soaring 9' ceilings, huge dual (2) walk-in master closets, and a tandem 3-car garage. This original owner has taken great care of this home! Don't miss out!
3257 E Malibu Drive
San Tan Valley, AZ 85143
$469,900
4
Beds
3
Baths
2,264
SqFt
Status
Active
MLS #
6687571
Property Type
Single Family Residence
Price Type
--
Nestled w/in the picturesque Bella Vista Farms community, this stunning single-level home, meticulously completed in 2023, boasts exceptional curb appeal & contemporary design. Step inside to discover an array of special features, including 9+ flat ceilings, dual pane windows that flood the space with natural light creating a bright & airy atmosphere. The open floorplan seamlessly integrates the brand new kitchen features a spacious layout w/ a breakfast bar/kitchen island, Quartz counters & stylish shaker cabinets, and hidden/under cabinet outlets, perfect for culinary enthusiasts & entertaining guests. Retreat to the beautifully appointed master bedroom w/ double sinks & private toilet room. Outside, the tranquil backyard oasis beckons w/ a covered patio, ideal for outdoor dining or relaxation that also has gas line hookups for outdoor grills & outdoors outlets for lighting systems/christmas lights. Home has keyless entry, pre-wired for surround sound systems, ceiling fans & recessed lights inside while also having a ring security system, motion detectors, doors sensors and smart thermostat for convenience. Additional features include fresh new interior paint, soft water hookup, exterior tankless water heater, 220v in the garage & 2 storage racks in the garage convey. Residents of Bella Vista Farms enjoy an amenity-rich lifestyle w/ exclusive access to an onsite swimming pool, picnic area, splash park, playground, basketball court, volleyball court & greenbelt. Nearby, San Tan Regional Park offers endless outdoor recreational opportunities, while Queen Creek Marketplace provides shopping/dining options. Experience the best of San Tan Valley living.
10510 E Flintlock Drive
Sun Lakes, AZ 85248
$469,900
2
Beds
2
Baths
1,545
SqFt
Status
Active
MLS #
6682860
Property Type
Single Family Residence
Price Type
--
Updated and Remodeled Home in Sun Lakes. Wood Plank Tile Flooring throughout out with Newer Windows. Exterior Painted in 2023. Wonderful, gated courtyard with brick pavers and rain gutters. Spacious wrap around back and side patio for entertaining with above ground spa. Granite Counters and pendent lighting in kitchen. Garage has epoxy floors, service door and mini split ac in garage, golf cart garage door. Master bath shower has been remodeled with updated sinks and faucets in baths. Enjoy the 5 different public golf courses that Sun Lakes has with plenty of restaurants grocery stores and Hospitals nearby.
9864 E Fortuna Avenue
Gold Canyon, AZ 85118
$469,900
3
Beds
2
Baths
1,606
SqFt
Status
Active
MLS #
6685210
Property Type
Single Family Residence
Price Type
--
New construction with Samsung appliances, 4 ton A/C unit, 40 gallon electric water heater, septic tank, asphalt shingled roof, 2 car garage, low maintenance landscaping in front yard, surrounding block wall, and a glorious curved iron front door. Live in luxury in this beauty located in the low desert near the Gold Canyon Golf resort.
7167 W Merriweather Way
Florence, AZ 85132
$469,900
2
Beds
2
Baths
2,094
SqFt
Status
Active
MLS #
6686698
Property Type
Single Family Residence
Price Type
--
DON'T WAIT MONTHS TO BUILD when this immaculate and highly upgraded Pursuit model is ready today. Notice the meticulously maintained desert landscaping, paver lined driveway and paver front patio. Inside is just as stunning as outside with features that include a chefs kitchen w/cherry cabinets, slide drawers, crown molding, quartz countertops, stainless steel appliances, pendant lights, under cabinet lighting, plantation shutters, a built-in entertainment center w/surround sound, den with double doors, a spacious laundry room w/storage cabinets and sink epoxy floors, garage storage and garbage can corral. Open up the two sliding doors to let the outdoors in! You and your guests will love the extended paver patio w/electric shade, fire pit and privacy wall. AMAZING HOME! AMAZING PRICE!
