Preparing to Buyer a Home? – Additional Expenses When Buying a Home

You’ve decided to buy a house, that’s great!  But what goes into being a home owner?  Additional expenses and responsibilities can be a concern for many home buyers, especially if you are a first time home buyer.  Many home buyers are timid about the expenses around caring for their new home but with a little plan ahead it is well worth the financial gain and freedom to take on home maintenance and expenses!

Additional Expenses When Buying a Home

Once you make the jump to being a home owner, there are additional expenses to your mortgage payment.

  • Property Taxes
  • Insuring Your Home
  • Routine Maintenance and Up-Keep
  • Roof or Appliance Repairs
  • Homeowner’s Association Fees

 

Tatyana Sturm and The Storck Team have over 10 years experience in AuroraCentennial, and Parker real estate and have helped buyers in many different walks of life with finding their new home from the first time home buyer to seasoned investors all across Colorado.  We have a true passion around finding you the best home for your lifestyle.  Please call or text The Storck Team at (720) 350-5909 or email us at thestorckteam@exitrealtydtc.com to start your home buying process with a knowledgeable and trustworthy real estate professional.

Preparing to Buy a Home? – Know What You Can Afford!

Considering a move?  Are you thinking of buying a new home?  There is SO much that goes into purchasing a new home whether you are a first time home buyer or purchasing your 5th home.  Purchasing a new home should be the most exciting time in your life, but it is often stressful as well.  A good Realtor or real estate agent will make themselves available to you for advice outside of just your “Purchase Contract” and will be invested in helping you arrive to your ideal situation.

Know What You Can Afford

Figuring out what you qualify for regarding your monthly mortgage payment is a vital first step toward buying your new home, but much more needs to go into this piece of the puzzle beyond the black and white monthly payment number your mortgage lender prescribes.  Often the amount your lender says you can afford and the amount you are truly comfortable paying on a monthly basis can vary.  We encourage you to create a fairly detailed budget of your monthly expenses by subtracting all of your monthly expenses from your take home pay while leaving out any current rent or mortgage payments you may have.

Did You Know?

When applying for your new home loan, there are several common monthly household bills that your lender does not include when considering how much you can afford to pay for your new home.

  • Daycare
  • Health and Car Insurance
  • Gas and Vehicle Maintenance
  • Entertainment
  • Cable and Internet

 

Tatyana Sturm and The Storck Team have over 10 years experience in AuroraCentennial, and Parker real estate and have helped buyers in many different walks of life with finding their new home from the first time home buyer to seasoned investors all across Colorado.  We have a true passion around finding you the best home for your lifestyle.  Please call or text The Storck Team at (720) 350-5909 or email us at thestorckteam@exitrealtydtc.com to start your home buying process with a knowledgeable and trustworthy real estate professional.

Buy a New Home After Bankruptcy, Short Sale, or Foreclosure in 2015!!

short saleEconomists are predicting that many homeowners who suffered financial hardship and the loss of their home during the foreclosure crisis will be ready to purchase again in 2015.  Purchasing a home has many perks, the most attractive being earning equity in your home.  And with the way “home values are continuing to sky rocket in Colorado” now is a great time to buy and earn some equity with your new home!

Read “Boomerang home buyers are coming back” by Ben Rooney with CNN Money for more information.

Many Boomerang Buyers, or those that suffered the loss of their home during the foreclosure crisis, aren’t aware that you can be eligible to purchase again after as little as one year after the loss of your home or bankruptcy.

FHA generally requires 3 years after your foreclosure or short sale to be eligible for an FHA insured loan, there are new FHA Programs that allow eligibility to some buyers after just one year but they have higher insurance and interest rates.  You can qualify for a new VA loan in just 2 years after your short sale or foreclosure.  There are Conventional Loan programs that you may qualify for immediately after your bankruptcy is discharged, or your foreclosure has sold.

Read “2015 Buy Again After Bankruptcy, Short Sale, Foreclosure, or Deed in Lieu” by Scott Schang with Find My Way Home for more information.

Aaron Storck and Tatyana Sturm-Storck

Aaron Storck and Tatyana Sturm-Storck

Tatyana Sturm and The Storck Team have been honored to serve the Denver and surrounding areas in relocation real estate for the last 10 years as one of Denver’s leading short sale and foreclosure specialists.  If you or someone you know is facing foreclosure, make sure you are educated on your options.  You might have equity or money in your home that you are unaware of in this ever changing real estate market.  Call or text The Storck Teamto explore your options with short sale and foreclosure today at (720) 350-5909.  We are available 7 days a week for a consultation.

 


Tatyana:
Aaron: 720-273-7419
Exit Realty


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