With tax season just around the corner, money is at the forefront of many people’s minds. This can be especially true if you’re thinking of buying a home or a vacation home on Lake Nacimiento this year. You want to plan carefully and know that your finances are in impeccable order before moving ahead with the home buying process.
As a Lake Nacimiento Real Estate agent, I help many people each year follow their dreams to owning one of the beautiful homes in Oak Shores or Heritage Ranch on Lake Nacimiento. Whether vacationers are looking for a lakefront home or those hoping to retire are envisioning days of relaxing out on their deck with views of Lake Nacimiento; helping people achieve their goals is one of my top priorities!
One of the biggest set backs in buying a Lake Nacimiento home is not being financially prepared and, for those who are looking to move quickly on a home, this can be frustrating. Before you begin looking at homes on Lake Nacimiento, I would encourage you to take the time needed to get your personal finances organized. Here are six things you’ll want to do in order to sail smoothly through the home buying process.
1. Check your credit report and fix any errors– Did you know that by law, you have the right to a free annual credit report? This is something you’ll want to take advantage of as it allows you to review your report and correct any errors or outdated information. If you do happen to find a mistake, you’ll be able to contact the corresponding credit bureau to discuss the discrepancies.
2. Review your budget– Reviewing your monthly budget is imperative before buying an Oak Shores or Heritage Ranch home. You’ll want to know exactly how much money you have to work with each month and can cut any unnecessary expenses if needed. Buying a home, especially a second home, is a large financial decision so allowing yourself to cut down frivolous expenses in order to save more is wise.
3. Review your monthly withholdings– You may find that, by reviewing your monthly withholdings, you’re able to save more money or have more cash on hand. Before you make any changes to your withholdings however, you will want to talk with your trusted tax advisor so you’re not stuck with owing extra money to the IRS at the end of the year.
4. Review your financial emergency plan– Having an emergency financial plan is almost essential before buying a home. Most financial advisors would recommend having at least six months worth of expenses saved in case of emergencies. Not only will this give you peace of mind, but it can provide a solid financial base that you can continue to build upon.
5. Sign up for paperless statements– Being surrounded by such beautiful scenery on Lake Nacimiento is a constant reminder to be caring for our environment. While seemingly insignificant, signing up for paperless statements and paying your bills online will add up over time and can save countless trees.
6. Consolidate accounts– While it can be useful to have various accounts open with your bank for savings, an emergency fund, or other financial goal, it can also get tricky to keep track of which part of your paycheck is going where. If you are finding it difficult to keep juggle these separate accounts; it’s time to consolidate. Of course you’ll want to check with your financial institution prior to ensure there aren’t any fees for canceling an account, but taking this step can keep your finances better organized.
These tips will be valuable to you whether you’re buying a home as a permanent residence or vacation getaway! In working in the Lake Nacimiento Real Estate market for a number of years, I can assure you that doing a little bit of pre-work prior to beginning your house hunting will be the most beneficial thing you can do.
I’m here to answer any questions you may have about the Lake Nacimiento Real Estate market and to help you each step of the way to finding your dream home on Lake Nacimiento, so don’t hesitate to contact me today!
I look forward to hearing from you!
Grace Borzini
Your Local Lake Nacimiento Real Estate Expert
Oak Shores Realty
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Oak Shores Realty specializes in Oak Shores at Lake Nacimiento properties. Please contact us today to get more information on Lake Nacimiento lake homes. Oak Shores Realty can also provide you an insiders “Lake Nacimiento Buying Guide” with great information including maps and market information.
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