Establishing a homebuying budget can be tough. But for those who want to secure a terrific home at an affordable price, entering the housing market with a budget in hand can make it easy to accelerate the homebuying cycle.

Now, let’s take a look at three questions to consider about a homebuying budget.

1. How much money have I saved for a home?

Examine your finances and see how much money is readily available for a home purchase.

Remember, the more money that is at your disposal, the more likely it becomes that you’ll be able to secure your dream residence in no time at all.

Although savings are important, it is essential to note that those who have little to no money saved still have plenty of time to get ready for the homebuying journey. And if you start saving a little bit each day, you can move closer to accomplishing your homeownership dreams.

2. Do I need to get a home loan?

In most instances, a homebuyer will need to obtain a home loan so he or she can purchase a residence. Luckily, many lenders are available to help you discover a home loan that matches or surpasses your expectations.

Meet with a variety of lenders in your area – you’ll be glad you did. Each lender can provide insights into assorted home loan options, explain how each home loan works and respond to your home loan concerns and questions.

Also, it often helps to get pre-approved for a mortgage. If you have a mortgage available when you enter the real estate market, you’ll know exactly how much you can spend on a residence, thereby reducing or eliminating the temptation to overspend on a house.

3. How will my monthly expenses change after I buy a house?

Owning a home is different from renting an apartment. As such, you’ll want to account for all potential expenses as you create a homebuying budget.

For example, a homeowner will be responsible for any home cable, internet and phone bills. This property owner also will need to consider any home maintenance costs like those associated with mowing the lawn in summer or removing snow from the driveway in winter.

Crafting a homebuying budget that accounts for your personal finances can be tricky. If you need additional support along the way, lenders may be able to provide expert tips to ensure you can acquire a wonderful house without exceeding your financial limitations.

Lastly, don’t forget to reach out to a real estate agent for help along the homebuying journey. A real estate agent is a housing market professional who will go above and beyond the call of duty to assist you in any way possible. From setting up home showings to negotiating with home sellers on your behalf, a real estate agent will make it easy for you to secure a superior home at a budget-friendly price.

Consider the aforementioned homebuying budget questions, and you can speed up the homebuying process.

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Hopkinton, MA:

This Single-Family in Hopkinton, MA recently sold for $315,000.
This is a Cape/Antique/Bungalow style home and features 7 total rooms, 2 full baths, 1 half bath, 3 bedrooms, 0.22 acres, and was sold by
Chuck Joseph – RE/MAX Executive Realty

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Working from home is a job benefit many dream of. However, despite what some may think working from home is not all fun and games. While it may make for an easier commute it also can make for more distractions that keep you from your work. Learn how you can create an office in your home that is a productivity oasis.

Function before form. It may be tempting to run out and buy all the beautiful office supplies and knick knacks, but before you do plan out the function of your office first. Create a list of must-have items. Will you need a printer, file cabinet or shelves for your reference binders? Perhaps a fax machine, large whiteboard or a sprawling desk with plenty of elbow room. Knowing what you need on hand to create the most efficient work environment will give you the ability to sit down and productively work without running out to get supplies or inventing workarounds. You will also want to invest in a good ergonomic chair since you will be spending so much of your time sitting in it. Your back will thank you.

Location. The location of your home office in your house may be more important than you think. Choosing a quiet secluded room with lots of light will create an ideal working environment. If you have children or a partner that will be home during the day you will want the room in a place where they will not have to tiptoe around like if you, for example, set up shop in the dining room. Creating some “do not disturb” signs may be a good idea to further set boundaries with your family.

Organize. Set yourself up for success off the bat by developing an organization system that works best for your home office. Since home offices tend to be set up in smaller rooms of a house make the most of your space by organizing vertically as well horizontally. Neatly manage and label cords when you set up any electrical equipment. Keep the items you use daily within easy reach so you don’t need to jump up and down all day to dig through your cabinets.

Inspire. This is your home office, after all, and not a cubicle so don’t be afraid to add personality to work your space. Pick up posters with uplifting quotes or imagery or a cork board to pin inspiration and goals. Paint your office a color that uplifts and inspires you. A calm blue paired with a vibrant yellow can help boost your focus and alertness.

Setting up a home office is an exciting house project, especially when you will have the opportunity to work from home. While it’s tempting to make your new office one that is visually appealing don’t forget to keep function at the forefront of your planning process. In the end, you’ll have the best of both worlds and may even be more productive for it!

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Hopkinton, MA:

This Single-Family in Hopkinton, MA recently sold for $810,000.
This is a Colonial style home and features 10 total rooms, 4 full baths, 1 half bath, 5 bedrooms, 1.01 acres, and was sold by
Chuck Joseph – RE/MAX Executive Realty

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