Easy And Most Affective Affordability Measurement

By: Thomas Cook

Easy And Most Affective Affordability Measurement

Creating a budget before you buy a condo or house is crucial to keeping your financial house in order.
 
You don’t want to get yourself into a situation where you are ‘house poor’ and not able to enjoy your new home.
 
You’ll want to consider every expense that you currently incur monthly to see where you spend your money now and then work out where you might be able to save money and cash flow in the future.
 
Remember, it’s only human nature to downplay how much things cost, but resist the impulse.
 
Be realistic about what you spend daily, weekly and monthly, because if the final figure is underestimated, you could find yourself in a financial bind once the home mortgage payments, realty taxes, utility and maintenance costs are all a reality.
 
It’s important to structure your monthly expenses so that you can still afford some simple luxuries, occasional vacation time and still have money available for unexpected expenses when they occur.
 
Go to Budget.LivingInToronto.com and download our spreadsheet and work out what your personal budget numbers are.
 
Thomas Cook
Thomas@LivingInToronto.com
647-962-1650


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Here are 5 proven ways to move safely and smartly towards your real estate buying goal...

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At the beginning of the home buying journey, often the picture of what the end result might look like is a little ‘fuzzy’.
 
Our first-time and move-up buyers have told us that being able to meet with us on a casual basis as early in the process as possible, even if their purchase date was 6-12 months away, really worked the best for them.

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Home buyers have come to us after trying to work with another agent saying “I don’t think he even knows exactly what I’m looking for and I’ve got questions he doesn’t have the answers to”.
 
Don’t make the same mistake.  Let’s set a time to meet and go over how the complete home buying process works, find out what your likes and dislikes are and what pitfalls you’ll want to avoid, before you seriously start looking for a house or condominium.
 
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