Kim D'Elia - EXIT Real Estate Executives



Posted by Kim DíElia on 9/16/2018

Let's face it Ė the homebuying journey may prove to be an expensive experience. If you're not careful, you risk overspending to acquire your dream house. On the other hand, if you purchase a home without identifying underlying structural problems, you risk costly home repairs down the line.

Ultimately, it helps to establish a budget for the homebuying journey. If you have a budget in place, you can increase the likelihood of having the necessary funds on hand to overcome many potential homebuying hurdles.

You should have no trouble creating a homebuying budget, either. In fact, here are three tips to help you put together a budget for the homebuying journey.

1. Assess Your Financial Situation

If you intend to purchase a house in the foreseeable future, you'll want to take a close look at your finances. By doing so, you may be able to reduce your monthly spending and use your savings to accelerate the homebuying journey.

It often helps to assess your daily, weekly and monthly expenses. Then, you may discover bills that you can cut from your everyday budget.

For example, you may enjoy dining out regularly, but cooking at home may prove to be more cost-effective. And as you reduce your dining expenses, you can save money that you can use toward the down payment on a new house.

2. Obtain Your Credit Score

Believe it or not, your credit score can make a world of difference in your quest to acquire a house. If you check your credit score, you may be able to find ways to improve your credit score prior to kicking off a house search.

You are eligible to receive a free copy of your credit report from each of the three reporting bureaus (Experian, Equifax and TransUnion). Take advantage of this perk, and you can learn your credit score in no time at all.

Remember, your credit score may have a major impact on your ability to land a favorable mortgage. And if you find that you have a below-average credit score, you then can pay off outstanding debt to improve it before you start your search for a new home.

3. Get Pre-Approved for a Mortgage

Pre-approval for a mortgage is ideal. With a mortgage in hand, you can enter the real estate market with a budget for buying a house.

To get pre-approved for a mortgage, you should meet with banks and credit unions. These financial institutions can offer insights into a variety of mortgage options and help you make an informed mortgage selection.

Lastly, as you prepare a homebuying budget, you may want to collaborate with a real estate agent. This housing market professional can help you hone your home search to residences that fall within your price range. Perhaps best of all, a real estate agent will make it simple for you to avoid spending too much to acquire your dream house.

Get ready to buy a house Ė use the aforementioned tips, and you can establish a successful homebuying budget.




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Posted by Kim DíElia on 8/5/2018

Once you buy a home, you realize that every penny of your budget matters. The initial purchase of a house can be financially overwhelming. Youíll be withdrawing thousands of dollars from your account to secure the home. Once you close on the house, itís time to buckle down on your budget. Continue reading for some tips on how to do just that.


Food Spending


For most people, food spending is one of the biggest things that suck the life out of their budget. Whether youíre getting take out three times a week or spending massive amounts at the grocery store, itís time to take a serious look at your food spending.


Shop With A Plan


If you head to the grocery store with a plan in mind, your shopping trip will be more successful and less expensive. Many people are unsure of what they have in their cabinets and fridge, let alone what to make for dinner. Make a list of meals to have for the week. Then, see what you need to complete those recipes in your kitchen and pantry. Itís also a good idea to stock your pantry with essentials when sales are going on.        


Supermarket ads can also be incredibly useful. You might have to store hop on a weekly basis, but shopping with the sales can save you a lot of money in the long term. 


Look At Your Credit Card Statements


Are you being charged for a monthly gym membership that you donít ever make use of? You can do one of two things: Start going to the gym or cancel out your membership and begin a daily jogging routine. Look at your cable bill and any other monthly subscriptions that you have. See where you can cut back. Are premium movie channels a necessity? Itís easy to forget what weíre being charged for on a monthly basis if we donít look at our bank and card statements. 


Cut Luxuries


Maybe in your life before becoming a homeowner, you went for a weekly massage or had a monthly housecleaning service. You can still have these luxuries, but they may need to be less often or less extensive. For example, a significant portion of time during maid service is spent loading the dishwasher or cleaning pots and pans. You can clean up after yourself and your family each night following dinner and cut back on the amount of time a maid would need to spend in your home. The cleaning person also now will have more time to spend on other things in the house that need attention. 


You can keep your massage; it may just have to be bi-weekly or monthly. Get creative to still have the things you want in your budget without going overboard.    




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