A carpenter uses a set of house plans to build a house. If he didn’t the bathroom might get overlooked altogether. Rocket Scientists would never begin construction on a new booster rocket without a detailed set of design specifications. So basically the point is that if you plan on doing something you should do it with a plan. Most people make plans when taking vacations but they never seem to plan on a budget, most of us go blindly out into the world without an inkling of an idea about finances and without any plan at all. If you want to plan on buying a home and wanting to know how to buy a home is a goal this year then you have to come up with a plan so that you can do so that way you can achieve your goals. There are tons of deals right now if you take a look just at the Santa Maria homes for sale.
A money plan is called a budget and it is crucial to get us to our desired financial goals. It will make life a lot easier if you have an idea of how to go about and what are the steps you need to do. Many of us will find ways where we can cut some of our spending so that way can save for our goals.
Without a plan we will drift without direction and end up marooned on a distant financial reef. Its kind of hard to get to a destination if you don’t have a plan even pilots that fly all day long have to submit a flight plan.
If you have a spouse or a significant other, you should make this budget together, rather than having to deal with an argument on what the new rule are for spending. Sit down and figure out what your joint financial goals are…long term and short term, and if it is buying a home and one of the Santa Maria homes for sale you need to have an idea on how much you need and what you are willing to do to get to that point.
Then plan your route to get to those goals. Every journey begins with one step and the first step to attaining your goals is to make a realistic budget that both of you can live with.
A budget should never be a financial starvation diet. That won’t work for the long haul, you get burned out and frustrated and when there is more than one person involved it can get pretty dramatic. Make reasonable allocations for food, clothing, shelter, utilities and insurance and set aside a reasonable amount for entertainment and the occasional luxury items, although you will have make some adjustments to spending but they should be not be that you must suffer doing it either. Savings should always come first before any spending, basically as you get your paychecks before you go out and about spending it pay yourself first and believe me that is easier said than done.
Even a small amount saved will help you reach your long term and short term financial goals. You can find many budget forms on the internet. Just use any search engine you choose and type in “free budget forms”. If you want a starting place here is a pretty good one, BUDGET WORK SHEET to start at and just list everything you have to pay for. Just print it out and you and your spouse can get to work on what you need to do.
Now if you do plan on spending for a home right now current FHA rules are 3.5% is the down payment needed. Just remember that is the down payment not the closing costs you may have to factor another 3% for closing costs. Sometimes the seller will pay for closings or help out but its much better to have than to need than to need the money to get your home and not have it. If you are in California and want to buy a home here or one of the Santa Maria homes there is a new program that the is available currently at the time of this writing where a loan for $5,000.00 will be provided to you that can be used for closing costs or the down payment. But like I said better to have than need than to need and not have if you want more information than just contact me.
Good Luck and just make sure it’s a budget that you can live with and don’t use the credit cards to make up for the difference remember you are budgeting.
Don’t forget that you need to have an idea what your new mortgage payment will be you can to my website I have calculators on there to give you an idea that you can use just click here.