Okay, okay so I know that you can probably think of a million and one more fun ways to blow that tax return check than on a house. Perhaps an exotic getaway, or a new television? But the truth is, that fun little government bonus check would go much further for you if you apply it to your future in the right way. I promise if you use it for any of the four worthy causes I’m about to share with you, you’ll be more than a little grateful down the road.
1. Your Down Payment
Planning on buying a new house this year? Don’t underestimate the power and options that a significant down payment savings account will give you. Not only will it open up more financing options for you, but it will also give you the ability to lower your monthly mortgage payments. Even if you buy a Des Moines home that doesn’t require a large down payment, you can use those funds towards your closing costs, moving expenses, or new furniture.
2. Pay Down The Principal On Your Mortgage
No plans on moving anytime soon? Why not cut down on the timeline of your mortgage payments by paying down some of the principal? I must caution you that you will want to have at least 6-9 months worth of living expenses in the bank before doing this though because if you fall on hard times financially, and are forced to foreclose, you will lose that money.
3. The Right Home Improvement Projects
Is there a chance that you will want to sell your current house this year or anytime in the next five years? You would be wise to put your money to work for you by strategically selecting home improvement projects that will increase your equity. I’ve got to caution you though that many projects that you may think will add value can be a big fat waste of your refund! The last thing you want to do is spend a fortune on projects that will actually depreciate the value of your property or add no value at all. Please let me know if you would like me to tell you exactly where and how to spend your money to yield the biggest profit when you sell.
4. An Emergency Home Savings Account
Owning a home is an amazing and gratifying part of life. However, it can also be filled with expensive surprises that can derail you financially. When things like a leaky roof, septic problem, or storm damage happen, you will be far less stressed and overwhelmed if you have a little cushion in the bank. Again, I know it isn’t fun to think about or a sexy way to use your check but trust me, the peace of mind will be worth it.
Thinking About Buying A Home In Des Moines?
This is a phenomenal time to take advantage of our booming real estate market here in Des Moines!
However, there is no reason why you should go it alone!
When you hire me to help you buy your Des Moines digs I will go above and beyond to help you secure the best financing, find a property that checks your boxes and make sure that you get the best possible deal.
Oh, and did I mention it won’t cost you a thing to hire me as your Des Moines buyer’s agent?
So, whether you’re ready to make a move now or just want some help getting your ducks in a row, drop me a line and let me know how I can help you make your Des Moines dreams come true.