3 First-Time Home Buyer Tips: How Much Home Can You Afford?


Your home will probably be one of your biggest investments. Knowing how much you can afford in the purchasing process will help you stay within your budget.


Let Me Help You Determine How Much House You Can Afford


This is when you take a serious look at your budget. How much do you make a month? How much do you spend a month and how much have you saved, thus far? Most lending advisors suggest the 28/36% Rule; it says you shouldn’t spend more than 28% of your income on housing expenses and your total debts shouldn’t be more than 36% of your income.


3 Easy Steps To Help You Determine How Much Home You Can Afford


1. Do The Math


In order to do the math, you’ll want to sit down and calculate. You may need to go “old school” and pull out a pen and paper or maybe you have an app on your phone that you can use. Choose whichever method is easiest for you and then start your calculations. Begin with your gross annual income and then include all your debts, (be sure to include any student loans, alimony and child support payments). Here’s an affordability calculator to help you calculate how much you can afford to spend on the investment of purchasing a home.


2. Determine Your Debt To Income Ratio


Your debt to income ratio calculates what percentage of your income goes to paying off debt. Here’s a DTI calculator to help you with your calculations. If you’d like, you can also get an estimate of your monthly mortgage payments and play with the calculator putting in different rates, so you can see your options.


3. Compare Mortgage Lenders


When you’ve done all your calculations, you have some options regarding where you get the money – unless you’re paying cash (you already have all the money you need for the cost of the home and additional expenses). At this time, you’ll want to compare mortgage lenders to see who’s going to give you the best rates for your investment. There are traditional institutions like Chase bank and Bank of America, credit unions for example, like Navy Federal, online mortgage lenders, and mortgage brokers.


3 Decisions To Ponder When Comparing Mortgage Lenders

  • Decide the type of loan you’d like.

  • Decide the type of lending experience you’d like.

  • Compare lender pros and cons.

You’ll want to contact several lenders to ensure you get the best offers available. If you need any help, please feel free to reach out to me.

 

Many of you may know that I'm a boss in many arenas, so did you know we have a cleaning service?

If your schedule is too busy, we'll help you keep your home clean and sanitized. Hiring us will help free up your time so you can spend it with those you love.


Believe it or not, many people unconsciously make simple mistakes when cleaning their home. If you find yourself in any of these examples, just know, we’d love to help you.


5 Cleaning Mistakes Many People Make


1. Failing To Clean Up Spills When They Happen

Depending on how busy you are or how many other activities or people are in the area when a spill happens, some people aren’t able to drop what they’re doing to address the spill. Sometimes if there are children who may have caused the spill, parents aren’t always informed immediately. The problem here is that when we fail to address spills when they occur, the problem may escalate. For example, if syrup is spilled on the floor and is allowed to remain there, it could attract ants or bugs, which instantly makes that spill a bigger issue.


2. Using Dirty Cleaning Supplies


Sometimes we don’t think about how important it is to clean our cleaning supplies before we use them again – please don’t beat yourself up, it’s a common mistake. Let’s use the vacuum cleaner as an example, when we fail to clean the vacuum cleaner after using it, we easily redistribute the germs, lent, dirt etc. – which does more harm than good. Quick tip: Clean your cleaning supplies before re-using them.


3. Using Disinfecting Wipes On Dirty Surfaces

It’s important to know the difference between cleaning and disinfecting and there’s an order to it. That may not be something everyone thinks about – we’re professionals so you can count on us to know the difference.


4. Assuming Your Homemade Cleaning Products Are Equally As Powerful

Let me start by saying, there are many benefits to using natural cleaning products especially when it comes to allergens and irritants, and of course they’re better for the environment. However, when it comes to fighting germs, viruses and deep cleaning, all-natural products are not as heavy duty and not as effective.


5. Using The Same Rag When Cleaning Around The House


This one is so common, when you fail to switch out rags during cleaning, you unknowingly spread the germs, dirt, viruses, or whatever is on that rag, around the house. In that case again, you’re doing more harm than good, let us help you.


Why hire a professional cleaning company? For that exact reason, we’re professionals and we’ll do a full service clean that will leave your home looking “picture” ready. For more information about our cleaning services, please visit our website: www.springcleanllc.com.


If you know anyone who may need my assistance, please help them by referring them to me, so I can help them. Please feel free to forward this post if you know anyone who would benefit from it. Also, if you have any questions or comments, please leave them below.


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~Your Nashville Lifestyle Agent



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