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Arizona Realty & Retreats

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How Much House Can You Afford?

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A Place To Call Home, Or An Investment To Generate Passive Income

Since so much of your life is spent in your home, choosing the right one for you is an enormous decision. It’s not just where you lay your head, hang your hat, or where the heart is. Home is where you live, raise families, entertain, relax and for some of us, work! Whether you’re in the market to buy now or just contemplating a future move, it’s important to consider your priorities and the list of features you’re looking for in a home.

Home-buying is an emotional process. However, ideally, you should set aside all your emotions when evaluating a house. Instead, use our Home Buyers Wishlist to evaluate your must-haves, nice-to-haves and other essentials. Then print copies of the Home Shopping Checklist. Every time you visit a home, bring the checklist and your wishlist along with you; take photographs so you can cross each item off your list. If you fall in love with the house and your checklist shows that the house has none of your must-haves, it will at least make you pause and think. Just a few of the things you should consider in creating your list are: 

  • What can I afford including all the expenses: I can't emphasis how important it is to get pre-qualified for a loan prior to looking at homes. When purchasing a property it's important that you buy a property you can afford now, not what you think you'll be able to afford in the future, look at all the additional expenses you'll incur as a homeowner including taxes, insurance, HOA fees and utilities.
  • Will the re-sale value be positively affectedWhat things does the home offer that will increase re-sale value when you plan to sell.
  • What features do I need/want: How many bedrooms will you need? Do you want granite countertops or is laminate ok? Etc. Many wants can have a significant affect on price so find out what suits your lifestyle best and what you can afford.
  • Location: Where in proximity do you want to be, neighborhood, distance to work, quality schools or family, urban or rural living, or local amenities. 
  • What are my future needs/goals: Anticipate future needs based on your goals and individual circumstances. Are you a growing family or have aging parents, is this a second home or an investment property, etc.
  • Should I buy or rent: How long do you plan on living in the home? Sometimes renting can  be a better choice (use the calculator to the right, then speak with me directly to help you weigh the options)

Everyone has their own goals, and some of us may trade four bedrooms for a larger backyard. For those who entertain, a larger kitchen may make up for a longer commute to the office. The number of bathrooms or proximity to schools may be more important to a growing family, or a single story home might be necessary for someone who has difficulty climbing stairs.

When searching for a new home, a systematic approach and due diligence are key. Sit down with your agent to discuss your needs, wants, desires, and goals, along with your future plans, to determine what suits you best. Your agent should take the time to thoroughly understand what you want and help you define your search parameters so you can target the ideal properties to consider. I'llThey should also be able to help you find the home that provides the features that are important to you and your family now, and into the future.

Rest assured that while making it a fun, and enjoyable experience, it will also be educational. Our agents are some of the few Realtors that will point out the negatives, as well as the positives in the homes we visit to ensure you see the whole picture. If need be, we’ll bring in a licensed contractor to evaluate the property and give us an unbiased opinion of the workmanship and/or structural integrity of the home prior to placing an offer.

No matter what neighborhood you have in mind, we’ll work within your specifics to search out the features that work best for you and help you find the home of your dreams. It may be the very first home you look at, or the very last; but in either case, we'll find the place for you to call home! Contact us today for a free consultation and let us help you find that special place.