Low interest rates make now an ideal time to buy your first home or move into a home more suitable for your needs. Keep your eyes on the goal by having a budget and spending wisely. It’s also good to have a conversation where we discuss your credit score and come up with a plan to help you achieve your homebuying aspirations.
The word “budget” can have a negative connotation. In reality, a budget means having a realistic spending plan with which you can live.
You will succeed financially by having a plan. Here are five simple steps to success:
1. Set Goals – When formulating goals, follow the time-proven S.M.A.R.T. model, which stands for goals that are Specific, Measurable, Attainable, Realistic and have a Timeframe.
2. Analyze Spending – Review credit card statements to determine where you are spending your money. Items that aren’t necessities can add up quickly. Once you’ve identified those items, you can cut out unnecessary spending.
3. Find Ways to Save – After you know where your money is going, try to eliminate needless spending. The key to budgeting is a willingness to make sacrifices to achieve a goal. Practice financial discipline so your homeownership dreams can become a reality.
4. Pay Off Credit Cards – Pay your credit card debt down to less than 30% of the available credit and stop using any credit cards until your debt is under control.
5. Carefully Plan Purchases – Although every person’s situation is different, the best advice is this: If you are ready to buy a house, now is the time to really focus on purchasing the items you need instead of things you want.
I would be happy to show you how buying a home is something you can make happen. We can review your future objectives and create a plan of action. Call the number at the top of my website homepage today to reach me!