Shelly Eshelman Realty
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How Much Should You Spend on a House?

by Shelly Eshelman 07/16/2019

Ultimately, there is no surefire amount that you should spend on a house. The real estate market varies in cities and towns nationwide, and as such, the prices of houses fall across a broad range. Also, the condition and age of a house – as well as a homebuyer's budget – may dictate how much an individual is willing to spend on a particular residence.

As you search for your dream house, it helps to plan ahead as much as you can. Because if you have a homebuying strategy in place, you can determine exactly how much you can spend to acquire your ideal residence.

Now, let's take a look at three tips to help you get your finances in order before you kick off a house search.

1. Check Your Credit Score

Believe it or not, your credit score may have far-flung effects on your homebuying budget. And if you fail to review your credit score before you embark on a house search, you may miss out on an opportunity to purchase your dream house.

A low credit score may make it tough to get the mortgage you need to acquire your ideal residence. Thus, you may want to check your credit score and find ways to improve it before you begin a house search.

You won't have to break your budget to get a copy of your credit report from the three credit bureaus (Equifax, Experian and TransUnion). In fact, you are entitled to a free copy of your credit report annually from each of the aforementioned credit bureaus. Request a copy of your credit report, and you can learn your credit score.

Of course, if your credit score is low, you can always improve it by paying off outstanding debt. Or, if you find errors on your credit report, contact the credit bureau that provided the report so that you can get these issues corrected.

2. Get Pre-Approved for a Mortgage

Pre-approval for a mortgage makes it easy to enter the housing market with a budget at your disposal. If you meet with a variety of banks and credit unions, you can get pre-approved for a mortgage sooner rather than later.

Remember, banks and credit unions employ friendly, knowledgeable mortgage specialists. Don't hesitate to ask these specialists about assorted mortgage options, and you can select a mortgage that perfectly matches your finances.

3. Consult with a Real Estate Agent

A real estate agent can make it simple to pursue your dream house. This housing market professional will help you narrow the price range for your dream house and ensure you can discover the perfect house without delay. Perhaps most important, a real estate agent is happy to negotiate with a seller's agent on your behalf, ensuring you can get the best price on any home.

Ready to start a home search? Use the aforementioned tips, and you can simultaneously look for your dream house and avoid the risk of paying too much to purchase your dream residence.

About the Author
Author

Shelly Eshelman

My sole purpose is not just to have clients. My life’s purpose and mission is to create more Homes for Special Needs Adults, the disabled and senior citizens.

Having many years in Real Estate as well as lending experience allows me to understand all the aspects of the transaction, to share my knowledge with you. 

I am third generation Real Estate Broker Entrepreneur and helped my grandmother drop flyers door to door as a little girl for her business. She taught me so much, which molded me to become the realtor and person I am today.

Scope of work:

Buyer’s looking to buy and seller’s looking to sell. 

All areas of Southern California. My areas of focus: 

Luxury Home Sales

Residential Homes Sales.

Turn Around Sales 

Mission to be Sold Fast homes. 

I work with all different types of situations. Divorce, Probate, trusts,

REO’s, fix and Flips and more.

Need someone to manage the properties/homes? I offer 

Property Management Services for both residential and commercial.

Additional services and Business areas:

Rental properties and Residential Property Management Services to help renters find homes to move into and landlords to find great tenants. 

Concierge Service For tenants "Free of Charge for tenants"

●Commercial Sales and Property Management

●Consulting, selling, startups for:

●Adults with Mental Disabilities (ARF’s)

● Residential Care Facilities (RCFE’s)

● Skilled Nursing Homes (SNIF’s)

●Urgent Care setups/Exiting,

●Radiography-MRI & CT

Education/Certifications:

● MBA in Business and en-thesis in Project Management, ● BA in Business

● AA in Real Estate

● Certification in Real Estate ● DSP I & DSP II ● CPI Training ● Admin Cert’s for RCFE & ARF

Published Author of the following books: 

1. 27 Mistakes First-Time Home Buyers Make And How To Avoid Them

2. How To Sell Your Homes For More Money

3. How To Sell Homes Fast For Top Dollar