When it comes to real estate, there are always going to be upswings in the market that will have an impact on your mortgage payment and overall financial health. However, with a fluctuating market here to stay, you may be wondering how you can guard your biggest investment and your finances against rate increases. If you’re concerned about rates on the rise, here are a few tips to test out you’re fiscal well-being.
Calculate Your Debt-To-Income Ratio
It’s beneficial to determine your DTI ratio prior to purchasing a home, but since debt and housing costs are always fluctuating, calculating this number again can be a wakeup call. By adding up your monthly expenditures (including any debt), and dividing that number by your pre-tax income, you’ll be able to determine your DTI percentage. While it’s ideal to have a percentage of less than 28%, if your expenditures have risen above this number, it may be time to take a look at your monthly budget and see what you can cut out.
Do You Have Emergency Savings?
Many people make a habit of putting money into their retirement funds each paycheck, but it’s equally important to have emergency savings you can access in the event of car repairs, home maintenance issues or an unforeseen medical problem. While it’s often suggested that a person should have a minimum of 3 months of expenses at their disposal, saving more than this can make you even more prepared in the event that a rate increase requires you to dive into other funds.
Review Your Budget
It’s easy enough to have a monthly budget, but the hard part for most people is sticking to it on a day-to-day basis. If you’ve veered off the trail a little bit in this regard, sit down to review your expenditures and determine what your financial outlook would be if you experienced an interest rate bump next month. In the event that there’s very little cushion and no money for savings, it may be worth your time to craft a new budget that gives you a bit more wiggle room.
Many people are uncertain about what the short-term economy will bring for their mortgage rates, but by reviewing your budget and maintaining emergency savings, you can be better prepared for the future. If you’re currently considering purchasing a home, give me a call for more information – J.P. Cook – 602-320-4253.
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13175 N 148th Avenue Surprise, AZ 85379
$495,000
4
Beds
3
Baths
2,104
SqFt
Status
Active
MLS #
6674260
Property Type
Single Family Residence
Price Type
--
Welcome to this modern living home nestled within the charming Marley Park community! This stunning home with an open floor plan boasts 4 bedrooms, 3 baths. Adorned with stainless steel appliances, granite counter tops, and 42'' cabinets with ample storage. A convenient guest room downstairs offers privacy and comfort. Upstairs you'll find large sized bedrooms and a large master retreat with full en suite that includes a tiled shower, dual sinks and a walk-in closet. Outside, enjoy the low-maintenance lifestyle with an oversized backyard featuring a putting green. This Marley Park community also boasts a beautiful Club House with a community pool!
6518 W Desert Blossom Way Florence, AZ 85132
$495,000
5
Beds
3.5
Baths
3,368
SqFt
Status
Active
MLS #
6671988
Property Type
Single Family Residence
Price Type
--
You won't be disappointed with the 5 bd, 3.5 bath, 2 story Yucca floor plan complete with a main floor master suit with walk-in tile shower, large walk-in closet, double sink. The main floor also includes a den, 1/2 bath, laundry, open floor plan with vaulted ceiling, separate dining area, gourmet kitchen, upgraded cabinets, tile backsplash, stainless steel appliances, granite countertops, water filtration system, large center island, 2 pantry closets. Upstairs you will find 4 more bedrooms, 2 baths, sitting area. Your backyard oasis offers a heated chlorine pool and spa, built in grill, covered patio and plenty of seating area for all your outdoor entertainment. Want to step away form the house you are within walking distance to all amenities offered by the community; open space parks, playgrounds spread throughout the subdivisions, catch and release fishing ponds, outdoor amphitheater, state of the art community center, heated community pool, water slides, splash pad area, various athletic courts and areas, K-8 School, dining, grocery store, and the Troon managed golf course Poston Butte.
4697 N 204th Lane Buckeye, AZ 85396
$495,000
2
Beds
2
Baths
1,657
SqFt
Status
Active
MLS #
6674327
Property Type
Single Family Residence
Price Type
--
MOVE RIGHT IN to this Kennedy on the corner! Situated in a quiet little niche of Victory, this Lennar floorplan is super popular - two bedrooms PLUS den, two baths, open kitchen/dining/great room. These original owners have maintained perfectly and upgraded - from custom metal screen security door to new lighting, ceiling fans, professionally painted throughout, epoxy garage floor, permanent heavy duty shelving & overhead storage in garage, professional landscape install extensive pavers in back & side yards. Ready to enjoy Victory living in a charming Victory neighborhood! FHA loan at 3.625 is Assumable!
29417 N 123rd Glen Peoria, AZ 85383
$495,000
4
Beds
2.5
Baths
2,622
SqFt
Status
Active
MLS #
6682362
Property Type
Single Family Residence
Price Type
--
Fantastic opportunity for this beautiful original-owner home in Vistancia Village that offers 4 bedrooms + den and loft in a spacious 2622 SqFt. The kitchen features 42'' white shaker-style cabinetry with hardware, granite countertops, subway tile backsplash, contemporary stainless/white Samsung appliances including a gas range and the matching refrigerator is included! Sliding doors lead out to the side patio with new pergola covering, pavers, and easy-care artificial turf, perfect for outdoor entertaining. Bedrooms and laundry are upstairs. The oversized primary bedroom has a step-out balcony and en-suite bath with extended dual sink granite vanity, framed mirrors, and large tiled shower with rain showerhead and glass surround. Upstairs bath also has granite counters and dual sinks,* and all bedrooms have walk-in closets. Other features include a den/office on the main level, under-stair storage, stone exterior elevation, and a 3 car garage. Community amenities include a private pool for the Village residents, and the Mountain Vista Club includes lap and resort pools, splash pad, tennis/pickleball courts, fitness studio, indoor basketball court, game room, and Vistancia's 3.5 mile Discovery Trail. See today!
17866 W Villa Chula Lane Surprise, AZ 85387
$495,000
4
Beds
3
Baths
2,204
SqFt
Status
Active
MLS #
6680598
Property Type
Single Family Residence
Price Type
--
Seller is offering $10,000 towards buyers closing cost incentive with full price offer! This stunning residence, built in 2021 is ready for a new owner. Boasting 4 bedrooms plus a den and 3 full bathrooms, there's ample space for your family and guests to enjoy. Featuring a open concept layout, the kitchen steals the show with granite countertops, modern cabinetry, and a stylish backsplash. Enjoy the 3-car tandem garage, while the backyard oasis awaits with lush turf, elegant pavers, and a double gate for added convenience with custom paver steps down the oversized side yard. The community is renowned for its amenities such as a pool, baseball fields, racket/tennis courts, playgrounds, hiking trails, dog park, and access to the 303, shopping, and the thriving area of Surprise
3130 N 160th Avenue Goodyear, AZ 85395
$495,000
2
Beds
2
Baths
2,247
SqFt
Status
Active
MLS #
6680054
Property Type
Single Family Residence
Price Type
--
Lovely expanded Topaz model with owned solar, private backyard, pool w/cascading wall fountains, pavered patio & built-in BBQ for your outdoor living & entertaining. Kitchen boasts upgraded white cabinetry w/glass doors, crown molding, granite counters, full ht. backsplash, R.O. tap & ss appliances. Beautiful wood & tile floors, updated ceiling fans & plantation shutters. Large laundry room incorporates added cabinetry for extra storage, sink, & washer/dryer will remain. New A/C (2019) & WH (2020). Garage is extended length plus has golf cart cut-out, attached storage cabinets & soft water system. Located approx. 2 blocks to the Tuscany Falls clubhouse, art & fitness centers, this fabulous home is move-in ready to start enjoying the award winning PebbleCreek resort lifestyle!
36990 N Aleutian Drive San Tan Valley, AZ 85143
$495,000
3
Beds
2
Baths
2,183
SqFt
Status
Active
MLS #
6679966
Property Type
Single Family Residence
Price Type
--
An amAZing home for sale sitting on the border of San Tan Valley & Queen Creek only minutes from all new dining & shopping. This gated community has miles of walking trails throughout plentiful, lush open spaces along with 3 parks! This plan features 3 bedrooms (+office area off main bedroom),2 bath split floor plan. TWO outdoor living spaces: a courtyard & covered patio for your entertainment needs. The kitchen offers plenty of usable counters, & comes w/modern white shaker cabinets, quartz countertops & stainless steel appliances. & tile t/out all common areas! Smart home technology is included along w/14 seer 3 zone HVAC & energy saving features. Soft water loop! blinds! ceiling fans! & nicely landscaped backyard. Just had 1 yr inspection w/builder! Enjoy the AMAZING SUNSETS!
531 E Sack Drive Phoenix, AZ 85024
$495,000
4
Beds
2
Baths
1,950
SqFt
Status
Active
MLS #
6680094
Property Type
Single Family Residence
Price Type
--
THIS HOME WILL NOT LAST. 4 BEDROOM WITH A DIVING POOL ON A CULDESAC. WELL MAINTAINED HOME. EASY ACCESS TO THE FREEWAY. THIS IS A WORK REQUIRED MOVE SO TIME IS IMPORTANT
4011 W Voltaire Avenue Phoenix, AZ 85029
$495,000
4
Beds
2
Baths
2,070
SqFt
Status
Active
MLS #
6697045
Property Type
Single Family Residence
Price Type
--
Welcome to your dream home nestled in the heart of vibrant Phoenix, Arizona! This stunning 4-bedroom, 1.75 bathroom oasis boasts a spacious 2,070 square feet of luxurious living space, meticulously designed for both comfort and style. No HOA. Step inside to discover a modern marvel featuring a blend of contemporary elegance and timeless charm. Adorned with premium upgrades throughout, including exquisite granite countertops, plank tile floors, and extra-tall cabinets, every detail exudes sophistication and quality craftsmanship. Entertain with ease in the expansive living areas, where natural light dances through the shutters, casting a warm glow upon the sleek surfaces. Unwind in the primary bedroom retreat, complete with a charming barn door and tranquil ambiance, offering a sanctuary of relaxation after a long day. Escape to your own private paradise in the backyard haven, where travertine tile and pavers lead the way to a sparkling diving pool, perfect for making a splash on sunny Arizona days. Enjoy dining under the shade of the aluminum gazebo, equipped with electricity for effortless outdoor entertaining. And with a small hand-crank awning on the west side of the patio, you can bask in the sunshine or seek shelter from the elements with ease. But the luxury doesn't stop there - this home is equipped with solar power (loan, not a lease), providing energy efficiency and cost savings for years to come. Plus, with gutters installed for added convenience, every detail has been carefully considered to enhance your living experience. Conveniently located near ASU West, shopping, dining, and more, this is more than just a home - it's a lifestyle. Don't miss your chance to make this exquisite retreat your own and experience the pinnacle of Arizona living. Welcome home!
4818 W Ellis Street Laveen, AZ 85339
$495,000
4
Beds
3
Baths
2,606
SqFt
Status
Active
MLS #
6688126
Property Type
Single Family Residence
Price Type
--
HUGE DROP IN PRICE FOR QUICK SALE!!! MOVE IN READY. See this beautiful 2 story Laveen Home in a great neighborhood! It features 4 Bedrooms, 3 Bathrooms, Living Room, Family Room, Dining Area, Open Island Kitchen and granite countertops! Low Maintenance Front and a large grassy backyard - a great playground! A detached guest house (or office or shop. This is a super home for a large family AND for entertaining!
7914 W Pueblo Avenue Phoenix, AZ 85043
$495,000
4
Beds
2
Baths
2,089
SqFt
Status
Active
MLS #
6690039
Property Type
Single Family Residence
Price Type
--
Welcome to this spacious 4-bedroom, 2-bathroom home with a contemporary open floor plan that is sure to impress! Step inside and be greeted by the bright and airy living space that seamlessly flows from the living room to the dining area and kitchen. The heart of the home, the kitchen, is a chef's dream with new appliances, ample counter space, and a large island perfect for meal prep and casual dining. The master suite is a peaceful retreat with a private en-suite bathroom featuring dual vanities, and walk in shower. Three additional bedrooms provide plenty of space for family, guests, or a home office. .Enjoy indoor-outdoor living at its best with easy access to the backyard from the living area, where you'll find a private oasis perfect for entertaining!
3935 E Rough Rider Road Phoenix, AZ 85050
$495,000
2
Beds
2
Baths
1,386
SqFt
Status
Active
MLS #
6688769
Property Type
Apartment
Price Type
--
No more lugging your groceries upstairs. Beautiful single level, ground floor, unit in the highly desirable gated Villages at Aviano. This may be THE best condos in the development, fronting onto lush green landscaping, community pool, and BBQ. Let the scent of freshly mowed grass waft over you as you enjoy your morning coffee on the patio. Come inside and marvel at this 2 bedroom, 2 bath, 2 car garage home. Everywhere you turn you'll find upgrades. Granite countertops and travertine tiled peninsula in the kitchen, cherry cabinets and upgraded s/s appliances and wine cooler. Tumbled travertine flooring, custom built in media center, crown moldings, oversized baseboards, door casings, and stone bath & shower surrounds. Designer paint and motorized shades. This is a gem and is truly move-in ready. Residents also have use of the incredible Aviano community center with pool, spas, ramadas, basketball, tennis, rock wall, park, well equipped gym, and meeting rooms. Come see why Aviano is one of the most sought out areas in the valley.