Carolina Buyer's Agent

Homes & Real Estate in the Charlotte, North Carolina Area
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Looking for rental property? Unfortunately, I don't work with rental properties. However, for only a little bit more, you might be able to get a wonderful Condominium or a small home. Your first and last months rent and the security/insurance deposit could cover your down payment. The seller could pay a portion of your closing costs and you would be building equity instead of paying for someone else's property. If you are interested in that option, feel free to contact me.

Homes and real estate in:

Charlotte, Matthews, Pineville, Lake Wylie, Lake Norman, Huntersville, Cornelius, Davidson, and Rock Hill, South Carolina

Julie P. Tuggle, ABR, Broker

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Tips For Home Buyers

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.

Julie P. Tuggle   NC DRE#  157735

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