Make a list: Spend some time taking stock of the kinds of maintenance and improvement projects you’d like to begin. A well-considered list will help you to set reachable goals. Assess your skills: Make sure that you carefully consider which projects you are fully capable of completing. For example, unless you have sufficient experience with electrical, plumbing or construction work, you should probably leave those tasks to the professionals. Establish priorities: Which projects are most important to you? Which projects will be the most costly? Which is more important: timeliness, quality or cost? Before beginning any do-it-yourself project, it is always wise to determine specific goals and priorities so that you are fully prepared when it comes time to begin. Create a budget: For each project that you want to complete, make certain that you have a firm budget in place. Allowing for unexpected circumstances (such as errors or the need for additional materials) in your budget will keep you from overspending. One step at a time: When it’s time to begin, remember to pace yourself! Rome wasn’t built in a day, and your new garden terrace will take time as well. Complete one task at a time, and soon you’ll feel the wonderful sense […]
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    Setting a budget for your home purchase is an important decision. You need to know how much you can afford each month and translate that into the amount you can afford to take out on your new mortgage. When you start house hunting with that budget in mind, you may find to your dismay that you are not seeing many homes in the price range you have set that match your needs. There are three choices you have in this situation. The first is to wait it out, keep looking, and hope the house you want comes up on the market in your price range. The second is to compromise and buy a house that is affordable but not really what you want. The final choice is to look at raising your home buying budget. How Much Will It Really Cost? The first thing to consider when you are looking at raising your maximum purchase prices is what difference it will make in your actual monthly payment. In many cases, the difference may not be as difficult to handle as you might think. Pull out that mortgage calculator and figure out what it would cost you per month to go […]
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    In the excitement of buying a home, particularly your first home, it can be easy to overstep your budget. Before you start shopping, it’s a good idea to draw some realistic conclusions regarding what you can really afford—and then make sure you don’t get carried away. What You Are Approved For Versus What You Can Afford When you walk into a mortgage broker or lender’s office, you may find yourself surprised at how much you are approved for. But before you get excited, remember that how much a bank approves you for isn’t necessarily an amount you can realistically afford. While the bank reviews your credit and finances, they don’t know details such as how much money you spend on entertainment or groceries each week. Sit down and do a realistic budget, looking at how much you spend monthly and where you might be able to cut corners. Then decide what you can really afford each month—and don’t forget to add in the cost of property taxes and insurance. Look Into The Future Your budget today may be very different in the future, so it’s a good idea to think ahead. One of the biggest impacts on finances is the […]
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