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Duluth Real Estate
Financing Your Home >Your Financial Cushion
When you calculate how much you will need to purchase a home you will add up the down payment and closing costs. It is also a good idea to leave yourself with some financial cushion to cover the incidental expenses associated with moving. First, you will have to pay the moving company unless you can find friends with strong backs who will help you. Then many buyers plan to do some work, such as painting, replacing carpet, or refinishing floors. If you are moving into a larger space, you may find yourself making some major furniture purchases within a few months of closing. A financial cushion is important enough that some lenders require buyers to have an amount in the bank equivalent to two or three months mortgage payments. This is especially true for buyers who are putting less than ten percent down. Your real estate agent can give you guidance. A lot depends on your overall financial situation. If your mortgage is a relatively low percentage of your monthly income, you will be able to rebuild a comfortable amount of savings in a few months.
Where are the highest median price homes in the United States currently located?
According to the NAR, the highest median price in the second quarter of 2005 was $726,900 for homes in California's San Francisco Bay area.
Ginny StaibACKERMAN/STAIB REALTY GROUP2280 Satellite Blvd.Duluth, GA. 30097770-513-0414770-778-8687Fax: 770-237-2053Email: ginnysells@NUMBER1EXPERT.comHaving started selling homes in the Atlanta real estate market in 1987, Ginny is well equipped to serve you. Her work ethic, prompt response to your call, and thorough follow up have made her a multi-million dollar producer and placed her in the top 1% of agents in the nation. Call or email her today!
Ginny StaibACKERMAN/STAIB REALTY GROUP2280 Satellite Blvd.Duluth, GA. 30097770-513-0414770-778-8687Fax: 770-237-2053Email: ginnysells@NUMBER1EXPERT.com
Having started selling homes in the Atlanta real estate market in 1987, Ginny is well equipped to serve you. Her work ethic, prompt response to your call, and thorough follow up have made her a multi-million dollar producer and placed her in the top 1% of agents in the nation. Call or email her today!
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