With the economy in the state it’s in, many Americans might decide not to bother purchasing a first home, or they might decide to rent rather than deal with a mortgage. Home expenses can seem daunting when placed in the same pile as health, credit card and car insurance bills.However, as your Boston Real Estate agent, I’m here to help make your dream of owning your home a reality. It can be done. With a few mindset changes and manageable spending tips, you can still find the means to pay a mortgage and show off your own Boston home. When you’re ready, I’ll be here to introduce you to the Boston Real Estate market and to help you find the perfect Boston home to buy!
With the help of this HGTV Front Door article, here are five ways you could make homeownership more affordable for you:
• Cut Useless Spending. In order to fit a mortgage into your financial plan, you’re going to have to let go of some other spending. If you write down every dollar you spend for a month straight, you’ll be shocked at where your money goes. Make small changes, such as buying a week’s worth of groceries instead of eating out. Make a pot of coffee instead of stopping at a coffee shop. Purchase a workout video and give up the gym for a month. Decide what is most important to you and then slowly diverge from other useless spending.
• Reduce Home Expenses. Okay, so you start making dinner at home instead of going out. That’ll help with the spending you do outside of the home. But what about the cost of living itself? Take a look at your energy, electric and water bills, and decide how you could decrease them. You could opt to take shorter showers, or purchase rain buckets for your garden’s needs, in order to lower the water bill. For the electric bill, decide if you could live without a landline phone or without cable. The summertime is perfect for that!
• Reduce Energy Costs. You could cut the cost of living a lot just by adding energy-efficient gadgets to your home. Sure, they cost more upfront, but in the long run, you’ll spend much less on your electric bill and you’ll do less shopping. For example, purchase fluorescent light bulbs, which use less energy and last much longer. Or, replace your thermostat with a programmable one, which allows you to turn the heat or A/C down while you’re away from home.
• Change Living Situation. If you’re newly married, you or your spouse could opt to get a second job. Sure, the time commitment is rough right now, but you could save up so that you’re better prepared in the future, when you begin a family. If you’re single, consider taking in a roommate. The extra rent will help you out, and the good credit you score from owning a home will still belong to you.
• Declutter. We all make purchases that we later regret. It’s called fruitless spending. Afterward, these purchases build up and create clutter. Some homeowners or renters even purchase an extra storage garage for this clutter, which costs more money. Let go of the clutter! Make it a habit to go through your belongings once every month or two, and then get rid of what you don’t need. The summer season is packed with local yard sales, making this an ideal time for you to host one and earn some cash. Otherwise, you could try selling the items online or at stores that take used items. Even if you donate them, you can write the donations off at tax time.
All of these examples are changes you can make to your own lifestyle and spending habits, and you can start anytime! Once you feel like you’re expenses are in order, come see me, and we’ll find you a Boston home that fits into your financial plan.
If you’re still not sure if you can afford a mortgage, I’m your Boston Real Estate agent. I can help you decide what is affordable to you right now in the Boston Real Estate market. Owning a home is part of the American dream, so don’t let anyone or anything, like this economy, divert you from living the dream. Boston is an amazing place to call home, so let me help you through the buying process! It’s achievable, I promise!
Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com
Patti Fine Real Estate
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