Fowler Real Estate - Boise
ADA COUNTY: Ada County, Boise, Collister, Eagle, Garden City, Kuna, Mayfield, Meridian, Mora, Pearl, Star, Ustick, West One Bank
BOISE COUNTY: Banks, Boise County, Centerville, Crouch, Garden Valley, Gardena, Horseshoe Bend, Idaho City, Lowman, New Centerville, Pioneerville, Placerville, Silver Creek Plunge, Star Ranch, Steirman
CANYON COUNTY: Bowmont, Caldwell, Canyon County, Doles, Enrose, Greenleaf, Huston, Knowlton Heights, Melba, Middleton, Nampa, Notus, Parma, Roswell, Stoddard, Sunnyslope, Weitz, Wilder
VALLEY COUNTY: Alpha, Burgdorf, Cascade, Donnelly, Lake Fork, Lardo, Mackey Bar, Mc Call, Roseberry, Stibnite, Valley County, Warm Lake, Yellow Pine.
Additional Services You Receive When You Use An Exclusive Buyers Agent!
What Are "Fiduciary Duties" and Why Are They So Important?
What Is An Exclusive Buyers Agent?
The Secret Big Corporations Have Known For Years
What An Exclusive Buyer Agent Will Do For You
The Agent Who Listed Our Home Says He Can Be Our Buyer's Agent
Take Some Confusion Out Of The House Hunting Process
What Others Say About Buyer's Agents
How Much Home Should You Buy?
You may have heard a real estate Agent or someone else say, "Always buy the biggest home you can afford. It is a good investment and the larger the investment the larger the return on investment will be".
But is that good advice for you? Maybe, maybe not.
When deciding to buy a home the first thing you need to do is get a loan. Yes, get the loan before you shop for homes. The lender will give you a letter stating how the maximum amount they will lend you given your income, debts, and the amount of cash available for down payment and closing costs.
Now that you know the maximum amount you can borrow and what the monthly payment will be on that amount, ask yourself some questions about your "comfort level". We all have a different comfort level when it comes to debt.
Some things that affect each individuals comfort level are:
Do I worry a little or a lot about money I owe?
Am I comfortable that my job is secure and my income will be stable for the next few years?
Do I reasonably expect to have a considerably larger income in the near future?
Am I willing to change my lifestyle (travel less, eat out less often, keep our car for a few more years) in order to make a house payment?
Think about all of that and then decide what payment you are comfortable with. If it is the maximum amount the lender has stated, fine. But if it is less than that amount, then buy less home.
The new home should be a place of comfort, not a place to sit in and worry about how you are going to pay for it!
Besides, you can always "move up" later if you situation or comfort level changes.