{"id":150,"date":"2015-01-12T15:37:32","date_gmt":"2015-01-12T15:37:32","guid":{"rendered":"https:\/\/clarksvilletnrealestateforsale.com\/?p=150"},"modified":"2015-01-12T15:37:32","modified_gmt":"2015-01-12T15:37:32","slug":"plan-home-buying-success-not-paralysis","status":"publish","type":"post","link":"https:\/\/clarksvilletnrealestateforsale.com\/?p=150","title":{"rendered":"Plan for Home-Buying Success, Not Paralysis"},"content":{"rendered":"

Plan for Home-Buying Success, Not Paralysis<\/h1>\n
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By:\u00a0Anne Miller<\/a><\/span><\/span><\/p>\n

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\"Purestock\/Thinkstock\"<\/p>\n

It\u2019s hard to balance your needs, wants and\u00a0finances<\/a>\u2014almost every aspect of your life\u2014when buying a new home. The\u00a0<\/span>sheer range of choices and decisions can lead to \u201cparalysis by analysis\u201d for prospective home buyers.<\/span><\/p>\n

Overanalyzing\u00a0when buying a home is perfectly understandable, but the crucial\u00a0question is: How can you get past it?<\/p>\n

Stay organized<\/h2>\n

List what you\u2019re looking for in a home, then\u00a0divide the items\u00a0into \u201cwants\u201d and \u201cneeds.\u201d<\/p>\n

These items should\u00a0include your preferred\u00a0<\/span>location<\/a>, home style, size and features, or proximity to friends, work and shopping. Keep this list handy when looking at homes.<\/p>\n

Create a list for each aspect of the buying process, and then break out\u00a0your options and what you hope to get out of each stage. For example, consider the professionals (e.g., REALTORS\u00ae, lawyers, mortgage brokers and engineers) you will need to consult. Jot down thoughts on the help you\u2019ll require\u00a0from each of the experts, and then update your notes\u00a0with the advice they give you.<\/p>\n

If you\u2019re debating on where to compromise on your home\u2014and if the\u00a0property is worth it\u2014the experts can help you decide.<\/p>\n

Taking some time to think through your concerns and needs, and how to get answers to your questions, can help give your search direction\u2014and ensure you don\u2019t forget anything important.<\/p>\n

Balance sheet<\/h2>\n

The financial aspects of buying a home can be\u00a0daunting, particularly as you try to figure out what kind of house you can afford.<\/p>\n

Start by examining\u00a0your current income, assets and liabilities, and then consider your needs in the immediate\u00a0and near\u00a0future. Will you need to pay for preschool, college or retirement?<\/p>\n

Consider future sources of income, including\u00a0any expected promotions or other salary increases.<\/p>\n

Weigh the costs involved in purchasing and maintaining your new home, including tax and insurance.<\/p>\n

Apply the 20\/28\/36 rule: Aim for a 20%\u00a0down payment<\/a>, then assume a mortgage not more than 2% of your gross monthly income and monthly expenses that hover around 36% of your gross monthly income.<\/p>\n

These are guidelines, not rules\u2014there may be valid reasons why your percentages vary\u2014but these simple ratios can guide\u00a0your decision.<\/p>\n

Fear of the future<\/h2>\n

Finding reasons to worry is\u00a0easy.<\/p>\n

It\u2019s natural to fret over making\u00a0your mortgage payments, whether the place you buy will meet your needs in five years or 10, or whether your investment will increase in value.<\/p>\n

Some fears are easier to deal with, such as managing your money well so you can afford to pay off your mortgage. Seeking professional financial advice may help put your mind at rest in this regard.<\/p>\n

Interest rates and property prices are beyond your control. However, your best hedge against the future is to keep your home in good condition for when you decide to sell it. Quite often, a well-maintained home will attract a buyer.<\/p>\n

As for the difficulty in predicting what your personal situation will be\u2014whether you will have a partner, children or parents to care for\u2014this is where you need to just close your eyes and leap.<\/p>\n

Trust that all of your preparation and homework have led you to make the best possible decision you can. That\u2019s the best anyone can do.<\/p>\n

And it often works out just fine.<\/p>\n

Based on an original article by\u00a0<\/span>Ben Apple<\/span><\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Plan for Home-Buying Success, Not Paralysis By:\u00a0Anne Miller It\u2019s hard to balance your needs, wants and\u00a0finances\u2014almost every aspect of your life\u2014when buying a new home. The\u00a0sheer range of choices and decisions can lead to \u201cparalysis by analysis\u201d for prospective home buyers. Overanalyzing\u00a0when buying a home is perfectly understandable, but the crucial\u00a0question is: How can you … Continue reading Plan for Home-Buying Success, Not Paralysis<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-150","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/clarksvilletnrealestateforsale.com\/index.php?rest_route=\/wp\/v2\/posts\/150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/clarksvilletnrealestateforsale.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/clarksvilletnrealestateforsale.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/clarksvilletnrealestateforsale.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/clarksvilletnrealestateforsale.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=150"}],"version-history":[{"count":1,"href":"https:\/\/clarksvilletnrealestateforsale.com\/index.php?rest_route=\/wp\/v2\/posts\/150\/revisions"}],"predecessor-version":[{"id":151,"href":"https:\/\/clarksvilletnrealestateforsale.com\/index.php?rest_route=\/wp\/v2\/posts\/150\/revisions\/151"}],"wp:attachment":[{"href":"https:\/\/clarksvilletnrealestateforsale.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/clarksvilletnrealestateforsale.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/clarksvilletnrealestateforsale.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}