Pam DeGemmis - Coldwell Banker Residential Brokerage


If you've been pre-approved for a mortgage, you can enter the housing market with a budget in hand. In fact, this mortgage will enable you to spend up to a certain amount on a house. But in many instances, it pays to buy less house than what you can actually afford.

Ultimately, there are many reasons to consider purchasing a house below your means, such as:

1. You might not have to worry about significant home maintenance.

A small house likely means less home maintenance than would be required in a large house. Therefore, you may be able to spend less time worrying about keeping your residence looking great if you acquire less home that what you can afford.

Of course, let's not forget about the money that you might save by purchasing an affordable residence. If you buy an inexpensive home, you may be able to use the money that you save to hire professional home cleaners, landscapers and others to help you enhance your residence's appearance.

2. You'll be better prepared than ever before for unexpected expenses.

There is no telling when a family emergency, natural disaster or other dangerous situations may arise. Fortunately, if you spend less on a house now, you may be better equipped than ever before to handle the expenses commonly associated with these unforeseen events.

Purchasing a cheap house may prove to be valuable if you encounter costly, time-intensive home repairs down the line too.

For example, your home's roof won't last forever, and you likely will need to fix or replace it at some point. But if you purchase a budget-friendly home, you may be able to save extra money that you can use to cover the costs associated with various home repairs.

3. You'll have more money that you can use to personalize your house.

The money that you save on a house today may be used to upgrade your home both now and in the future.

For instance, if you want to install a deluxe swimming pool or fire pit in your backyard, spending less on a house now may provide you with the financial resources that you need to fund these projects. And if you complete a broad range of home renovations, you may be able to increase your house's value as well.

Deciding how much to spend on a house can be a tough decision for any homebuyer, at any time. If you collaborate with a real estate agent, you can explore a vast array of residences that fall within your price range.

A real estate agent will learn about your homebuying goals and tailor your home search accordingly. He or she also will set up home showings, keep you informed about new residences that become available and ensure that you can discover a home that matches or exceeds your expectations.

Consider your budget closely as you prepare to kick off a home search. By doing so, you should have no trouble finding a terrific house at an affordable price.


As a homebuyer, it is easy to envision finding the perfect house, submitting an offer on it and acquiring it right away. However, it is important for buyers to consider the worst-case scenarios as well.

A buyer who understands the worst-case scenarios that he or she may encounter during the homebuying journey can plan accordingly. That way, this buyer will be better equipped than others to avoid various homebuying worst-case scenarios altogether.

Now, let's take a look at three common homebuying worst-case scenarios, as well as how buyers can avoid these situations.

1. You find your dream home, but it falls outside your price range.

If you enter the housing market without a mortgage in hand, you may need to act quickly to acquire the necessary financing to purchase your dream house. But once you kick off a search for a mortgage, you may find that the cost to acquire your dream home falls outside your budget.

When it comes to getting home financing, it often helps to be proactive. Fortunately, if you meet with banks and credit unions before you launch a home search, you can determine exactly how much money you can spend on a residence.

Banks and credit unions employ friendly, knowledgeable mortgage professionals. With these mortgage experts at your side, you should have no trouble getting pre-approved for a mortgage at your convenience.

2. You discover a wide range of problems during a home inspection.

A home inspection likely will be completed in the days after a seller accepts your offer on a residence. And in some instances, an inspection may force you to reconsider whether you want to purchase a house.

If you encounter problems during a home inspection, you still have lots of options. You can ask a seller to perform assorted home repairs or reduce your offer. Or, you can walk away from a home sale and restart your home search.

For homebuyers who are worried about any problems that they encounter during a home inspection, it is paramount to look closely at all of the aforementioned options. By doing so, you can make an informed decision about whether to proceed with a home purchase or reenter the housing market.

3. You employ a real estate agent who fails to help you achieve your homebuying goals.

Many real estate agents are available in cities and towns nationwide. But if you fail to conduct an extensive search for the right real estate agent, you may struggle to accomplish your homebuying goals.

When choosing a real estate agent, you should learn about this housing market professional's industry experience. It also helps to meet face-to-face with a real estate agent and discuss your homebuying goals with him or her. This will enable you to determine whether you're comfortable working with a particular real estate agent.

Enjoy a quick, stress-free homebuying experience – consider the aforementioned worst-case homebuying scenarios, and you can minimize the risk of potential pitfalls throughout the homebuying journey.


When your family is searching for a home, it’s an exciting time for the adults, but if there are children involved, it can be a difficult task. Children don’t have to be left in the dark during a home search. Children of all ages can be involved in the process of finding a home. Read on for tips on how to make your kids feel a part of the home search process. 


Young Children


Preschool-aged children might seem not to be aware of the fact that your family is searching for a home, but they can still very much be a part of the process. One thing to remember about young children is that you shouldn’t give them too many options. Once you have narrowed down the homes to a few and the time to buy a home is close, it’s a good time to tell your toddler about the fact that you’re moving. While you probably don’t want to take your kids along with you on all of your home viewings, you can bring the children with you. Even the opinions of the tiniest among us can help contribute to a final decision. 


School-Aged Children


Older children may be more challenging to deal with during a move. These kids are more aware of the changes to come and maybe more reluctant of the entire process. It’s best to include children this age (around 6-9 years old) in conversions about your plans. Where do you hope to move? What neighborhood will the home be? Show them pictures of potential new homes. Allowing kids this age to share their thoughts on location and the types of houses you’re looking at can help to ease fears and anxieties. Remind your kids that the final choice is up to the adults but that you appreciate and welcome their input. 


Older Children And Teenagers 


Pre-teens and teenagers can play a part in the house search. Make sure that they understand that there’s no pressure on them to pick a house but their input is essential to you. Teens are tweens should be encouraged to come along on house tours to help give an opinion on the properties in person. 


The older the kids that are involved, the more you should value and welcome your input.  Make sure that you reassure your teens, letting them know that they can continue their favorite activities. Do a little research on the new community first, or allow your kids to do a bit of research themselves.                     



No one wants to face a homebuying dilemma. Yet problems may arise during the homebuying journey that make it tough for an individual to find and buy his or her dream residence. Lucky for you, we're here to help you prepare for potential homebuying dilemmas and ensure you can quickly address these issues.

Now, let's take a look at three tips to help you avoid a homebuying dilemma as you search for your ideal house.

1. Craft a Homebuying Strategy

If you intend to embark on a home search, it often helps to enter the real estate market with a plan in hand. That way, you can streamline your house search and boost the likelihood of finding a quality home that matches your expectations.

Think about where you want to live, as well as the features you want to find in your dream home. Then, you can create a homebuying strategy designed to help you discover the right house.

2. Get Pre-Approved for a Mortgage

Obtaining home financing may prove to be problematic for some people. However, if you apply for a mortgage today, you can start your search for your dream home with a budget at your disposal.

There is no shortage of mortgage options available to homebuyers nationwide. Adjustable- and fixed-rate mortgages are two of the most popular options for homebuyers. Meanwhile, banks and credit unions can teach you about adjustable- and fixed-rate mortgages and other home financing options at your convenience.

If you meet with banks and credit unions, don't hesitate to ask mortgage questions, either. If you learn about all of your mortgage options, you can make an informed home financing selection that may serve you well for years to come.

3. Hire a Real Estate Agent

There is no telling when a homebuying dilemma will crop up during your search for your dream residence. Fortunately, if you hire a real estate agent, you can receive expert assistance with any homebuying dilemma, at any time.

A real estate agent understands the challenges commonly associated with buying a home. Therefore, he or she will do everything possible to help you address these challenges as you navigate the homebuying journey.

Typically, a real estate agent will help you craft a property buying strategy, narrow your home search and establish realistic homebuying expectations. He or she also will set up home showings, teach you about different aspects of the housing market and provide homebuying recommendations and suggestions.

If you discover your dream residence, a real estate agent will help you put together a competitive offer to purchase this home too. And if your homebuying proposal is approved, a real estate agent will help you finalize your house purchase as quickly as possible.

There is no need to stress about homebuying dilemmas. If you take advantage of the aforementioned tips, you can get ready for potential homebuying problems and resolve these issues before they escalate.


Ready to acquire your dream house? Before you embark on a home search, it often helps to establish a homebuying wish list. That way, you can narrow your house search and discover your dream home without delay.

Now, let's take a look at three factors to consider as you craft your homebuying wish list.

1. Home Size

Home sizes vary. As such, you'll want to consider your living situation closely to ensure you can find a house in a size that suits you perfectly.

Remember, a three-bedroom house may be too big for a single person. Much in the same vein, a one-bedroom home is unlikely to meet the needs of a family of five. But if you consider your living situation ahead of time, you can determine what size home to buy.

2. Home Location

Do you want to own a house that is located just minutes from your office in the city? Or, would you prefer a home in a small town? Think about where you want to live, and you can tailor your home search accordingly.

Keep in mind that home prices will vary based on location. Oftentimes, houses in or near major cities are more expensive than similar homes in small towns. At the same time, homes close to top schools or attractions may prove to be more expensive than others.

3. Home Exterior and Interior Features

Consider the home exterior and interior features that you want – you'll be glad you did. If you evaluate home exterior and interior must-haves, you can create priorities as you search for your dream house.

For instance, buying a house that features a central air unit may be a top priority if you plan to relocate to a warm-weather region. On the other hand, you might want to purchase a house that features an in-ground swimming pool, but you can live without this outdoor amenity if necessary.

A homebuying wish list is essential, regardless of where you choose to pursue houses. In addition, if you require extra help as you get ready to enter the housing market, you may want to employ a real estate agent.

With a real estate agent at your side, you can boost your chances of acquiring a top-notch house at a budget-friendly price. A real estate agent will allocate the necessary time and resources to learn about your homebuying goals. Then, this housing market professional can help you streamline your home search.

Furthermore, a real estate agent will provide expert assistance throughout the homebuying journey. He or she will set up home showings, help you submit offers on homes and handle homebuying negotiations. And if you ever have homebuying questions, a real estate agent is happy to respond to them at any time.

Make your dream of purchasing a home come true – consider the aforementioned factors, and you can create a wish list to help you accomplish your homebuying goals.