Here at The Suburban Team of Mark Allen Realty, we have three values: collaboration, community, and financial stability. Today, we’re talking about the third item in this list.

When we work with buyers, we always share the message of financial stability from the beginning. It starts with the pre-approval letter from your bank or loan officer. The most important financial factor to consider is if the monthly payment fits your budget. Life happens; your car is going to break down, your kids are going to want to go on vacation, and you’ll need to have funds set aside for things like that. Being house-poor is the worst, and we don’t want that to happen.

The importance of financial stability as a homebuyer connects to the story of one of our recent clients. We got some buyers under contract on a nice home, but the seller then pulled out just four days after offer acceptance. That rarely happens, especially in this market. It was a tough blow to us, especially because our buyers already had their other home under contract and were now worried about being left homeless.

“The most important financial factor to consider is if the monthly payment fits your budget.”

We let the dust settle, took a deep breath, and regrouped. We stayed focused, positive, hit the ground running on showings, and ran through the finish line. We got them under contract for $340,000 less than the original offer on the first home. This is why we preach financial stability.

If you’re interested in working with a team that values financial stability or have any other real estate-related questions for us, don’t hesitate to reach out via phone or email. We look forward to hearing from you soon.