Sticking to a budget is generally a great life choice, and your budget for your home is no exception. However, there are some things to take into consideration when setting your budget, and whether or not to bend a little. Here’s some thoughts on how to make your decision easier!


How much of a leap are you making?

When budgeting, we often like to leave a little wiggle room… The trick is deciding how much! With a home, remember that the overall price plays out into your monthly payment. For example, spending $10,000 more on a home may only end up adding $50 to your monthly payment.  If it’s feasible within your monthly expenditures, it may be worth considering.


What are you actually getting?

When you look at a house outside of your budget, remember why you are looking. Maybe the houses in your budget need renovations, and you’re looking for a move-in ready home. It’s also important to look at the taxes in each neighborhood!  Make sure you weigh it out. Is the home within your budget also slapping on more taxes? Maybe the pricier home is a better buy after all!


Think about your quality of life.

No, that might not mean getting the kitchen with double ovens and a lazy river in your backyard, but your quality of life isn’t just about looking for luxury. Think about pace of life you have and where you tend to go. Is a home slightly outside of your budget, but much closer to work and the grocery store? Is one school system far better than the other? These are things that may be worth the budget adjustments and save you in gas, time, or peace of mind.


Budgets don’t have to be intimidating! It helps when you go in knowing that your home search may not look exactly like what you expected. Find a buying agent that you trust, and look at all the different sides of your decision. We’re confident you’ll make a good one! And if you’re looking for a lender, give us a call. We’d love to support you!




The Christian Mortgage Mom