Buying a home is a significant expense. It doesn’t matter whether you’re a first-time buyer or have experience. Unless you have a large pile of cash, you’ll need to ensure your finances are in order before closing. In this post we’ll explore four financial items you’ll want to check off before buying a new home.
Figure Out Your Current Monthly Budget
First, you’re going to want to sort out your monthly budget. If you’ve never done a budget before, start with something basic. Open up a spreadsheet or take out a piece of paper. Make two columns: ‘income’ and ‘expenses’. Fill in each column with the amounts that you make or spend each month. Bank, credit card and other statements can help with this process. It’s a good idea to go back at least 3 months to ensure you’re capturing your true spending.
Make A Debt Management Plan
Do you have any debts? If so, you’ll want to make a plan for how you’re going to manage these when you buy a new home. For example, you may have a car payment, student loans, a line of credit or credit card debt. Write down your debts, how much you owe and when payments are due. If any debts are due monthly, make sure you include those in your budget.
Keep in mind that your outstanding debts may impact your ability to borrow for a mortgage as well. If you plan on taking out a mortgage to pay for your new home, it’s best to get your debts figured out beforehand.
Understand All Your Real Estate Costs
Next, you’ll want to determine what all your real estate costs are going to be. If you’re not yet close to the bidding or closing process, this might be a bit challenging. But ask your real estate agent for a breakdown of what you can expect to pay for a home in your price range.
Set Up An Emergency Savings Cushion
Finally, you’ll want to set up a financial cushion in case of emergencies. It’s not much fun to think about, but losing a job or having a health event is possible. Most financial experts recommend having at least six months of expenses saved up. Of course, this is always easier said than done. What’s important is that you have at least some cash tucked away, just in case. If you can, save a bit extra each month or from each pay check and add to this emergency fund.
When you’re ready to buy a new home, a licensed real estate agent is your best bet for success. Give me a call today and learn more about how affordable a new home in your community will be!  J.P. Cook – 602-320-4253.
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6827 E Ivyglen Street
Mesa, AZ 85207
$1,650,000
6
Beds
5
Baths
5,054
SqFt
Status
Active
MLS #
6762559
Property Type
Single Family Residence
Price Type
--
Welcome to Paradise in the exclusive Annecy Community! Fully remodeled from top to bottom, boasting a modern contemporary feel, this home has everything it all! Walk through the front door and you are greeted with a spacious dining space fitted with wine racks and temperature-controlled refrigerators. The kitchen is top notch with cooling drawers, Monogram appliances and soft close cabinets. Enjoy an oversized primary bedroom with a custom closet and a lavish bathroom. There is an amazing addition in the backyard with its own separate entrance that features a breathtaking wet bar with marble flooring, accent lighting, cooling drawers, and more. Resort style backyard with water and fire features, electric shades, above ground hot tub, and gazebo. So much to see, it will go fast!
8146 E Wing Shadow Road
Scottsdale, AZ 85255
$1,650,000
4
Beds
4.5
Baths
3,497
SqFt
Status
Active
MLS #
6780563
Property Type
Single Family Residence
Price Type
--
Absolutely stunning! Your chance to own in coveted Raptor Retreat at Grayhawk! Elegance meets comfort in one of North Scottsdale's most sought after and prestigious guard gated neighborhoods: Los Vientos in Raptor Retreat. Step through the wrought iron gate into a Santa Barbara-inspired estate. The main residence offers three ensuite bedrooms plus a private office, perfect for any lifestyle. In addition, a separate casita with a walk-in closet and beautifully appointed bath provides your guests with maximum comfort and privacy, accessible through a lush courtyard. 4 bedrooms. 4.5 bathrooms. 3 car garage. Pool. 3497 total SqFt including the casita. 11,057 SqFt lot. Built in 2002. Split primary bedroom. All on one level, no steps! The open-concept great room includes spacious dining and living areas with a cozy fireplace, seamlessly connecting to the chef's kitchen, which features an expansive island and luxurious, upgraded countertops. Outside, the private, resort-style backyard is an entertainer's paradise, complete with a sparkling pool, built-in BBQ, and a putting green. A wide, long aggregate driveway leads to a three-car garage, ensuring ample space and convenience. Walking distance to world class golf, restaurants, shopping community pool and walking trails. Nearby hiking and quick access to the 101. This home is a true desert oasis!
6711 E Camelback Road Unit 40
Scottsdale, AZ 85251
$1,650,000
2
Beds
2.5
Baths
2,803
SqFt
Status
Active Under Contract
MLS #
6783065
Property Type
Townhouse
Price Type
--
Great opportunity to own this rare, single-level, residence located in the guard-gated enclave of the Village of Pavoreal. Offering one of the largest floor plans available, with timeless design and superior craftsmanship throughout. From the moment you step inside, the carved wood front door and meticulous details like the tongue-and-groove wood ceiling and hardwood floors, create a captivating first impression. The living and dining areas feature soaring ceilings with wood vigas, adding to the warm, inviting ambiance. The kitchen and morning room provide ample storage with European-style cabinetry. The home includes two spacious master suites, each with custom-designed walk-in closets and luxurious bathrooms. Additionally, a den/office with double-door entry, recessed lighting, and a ceiling fan provides a versatile workspace. The junior suite features built-ins with a Murphy bed and a sharp remodeled bathroom with a steam shower. Thoughtfully maintained with easy-care landscaping, synthetic grass, and roller shades, this property is ideal for a lock-and-leave lifestyle. Conveniently close to Downtown Scottsdale, within walking distance to Fashion Square Mall, Scottsdale Waterfront and so much more!!! Easy access to the heated community pool, spa, and updated fitness center. This exceptional home is sure to impress!
31222 N 54th Place
Cave Creek, AZ 85331
$1,650,000
4
Beds
4.5
Baths
4,025
SqFt
Status
Active Under Contract
MLS #
6779177
Property Type
Single Family Residence
Price Type
--
Step into a world of luxury with this immaculate and beautifully appointed home located in the highly desirable Lone Mountain corridor. From the moment you enter, you'll be captivated by the expansive kitchen, featuring a stunning 12-foot island, double-stacked cabinets, and soaring high ceilings. Equipped with top-of-the-line SubZero and Wolf appliances, this kitchen is a culinary paradise, offering impressive storage and a spacious butler's pantry. The inviting great room is designed for relaxation and social gatherings, flowing seamlessly into a large shaded patio where you can enjoy breathtaking sunset views. This ideal floor plan includes two luxurious primary suites, each offering walk-in closets and elegant baths. The main primary suite serves as a true sanctuary, boasting dual closets and a spa-like wet room complete with a shower and jetted tub for ultimate relaxation. This home's charm extends beyond the main living areas. A private casita with its own entrance features a cozy living area and kitchenette, perfect for guests. Additionally, you'll find an en-suite bedroom and a dedicated office with custom built-ins, offering both privacy and functionality. Experience ultimate outdoor living in your own private backyard oasis with mountain views, complete with an artfully designed pool, tranquil water feature, spa, built-in BBQ, and a sit-up bar perfect for gatherings with family and friends. Don't miss your chance to own this stunning home that perfectly blends elegance, comfort, and outdoor enjoyment.
15650 N 109th Place
Scottsdale, AZ 85255
$1,650,000
4
Beds
3
Baths
2,787
SqFt
Status
Active Under Contract
MLS #
6779236
Property Type
Single Family Residence
Price Type
--
OPPORTUNITY KNOCKS!! This home sits on one of THE BEST LOTS in gated Cimarron Hills in McDowell Mountain Ranch! This corner lot is situated on a quiet street, backs to a large lot with SPECTACULAR MOUNTAIN & CITY LIGHT VIEWS!! (Most homes in this neighborhood have only mountain or city lights, NOT BOTH!) Everything is original int his home, providing a blank slate to make this your own. PRICED BELOW MARKET because home has not been updated. **Popular master-split floor plan, single level with 4 Bedrooms + office area, 3 baths, 3 car garage and pool. 24 Hour guard gated community built by Edmunds/Toll Brothers with it's own private club with heated pool, spa, tennis courts , work out room & outdoor entertaining space. Lots like this only become available every few years! WOW! Cimarron Hills/Cimarron Ridge is one of the two exclusive, 24/HR GUARD-GATED Toll Brothers communities in McDowell Mountain Ranch. Only for residences behind the gates, this neighborhood features its own heated, negative edge private pool overlooking the city, spa, and clubhouse with a recently renovated workout room. The Cimarron Hills Clubhouse also offers 2 tennis courts, outdoor BBQs, a grassy play area, and an indoor kitchen, perfect for hosting a private party or neighborhood gathering. Award winning McDowell Mountain Ranch is a premier master planned community located in North Scottsdale. Situated at the foothills of the McDowell Mountains, enjoy the beautiful desert serenity yet also have all the conveniences of living in-town just outside the neighborhood. The 101 Freeway is 5 minutes away, as well as restaurants, shopping, groceries, and so much more! This friendly neighborhood features 2 heated community pools/spas, playgrounds, basketball courts, tennis courts, and one of the best Pickleball leagues in town! The HOA hosts several events throughout the year for everyone to enjoy and connect with neighbors. Numerous trails, both paved & unpaved that meander throughout the community. McDowell Mountain Golf Club, designed by Phil Mickelson, with the clubhouse & restaurant, is open to the public. The City of Scottsdale Aquatic Center w/Lazy River & Library is close by, in addition to miles and miles of hiking, biking & equestrian trails at the landmark Gateway to the McDowell Sonoran Preserve trailhead.
9802 E Hidden Valley Road
Scottsdale, AZ 85262
$1,650,000
3
Beds
3.5
Baths
3,400
SqFt
Status
Active Under Contract
MLS #
6776316
Property Type
Single Family Residence
Price Type
--
Idyllic Desert Mountain Views! Enjoy the serene desert setting, abundant with fine desert specimen cactus and custom water features. The home exudes Southwest charm with rustic beams and hearths. The spacious great room is a hub for entertainment, featuring an inviting bar and panoramic views that showcase Lone Mountain and breathtaking year-round sunsets. Step outside and discover delightful entertaining spaces, from the shady covered patio to an outdoor grill center with dining bar perfect for sunset cocktail hour, a hearthside gathering area all enhance by a soothing water feature. To top it all off, the roof-top patio provides 360* vistas!
18965 E Vallejo Street
Queen Creek, AZ 85142
$1,650,000
4
Beds
3.5
Baths
3,835
SqFt
Status
Active Under Contract
MLS #
6778193
Property Type
Single Family Residence
Price Type
--
Amazing 4 bedroom property with SanTan Mountain Views! Be welcomed by the manicured front yard, showcasing a lovely landscape, RV Garage + oversized 2 car garage, an RV gate, an extended paver driveway, & a relaxing front patio ideal for taking your morning coffee. Inside, discover the soaring high ceilings, wood flooring, & a spacious living room, w/an inviting fireplace,& large sliding doors to the backyard that seamlessly merge the indoor & outdoor activities. The formal dining room enjoys plantation shutters & a sophisticated chandelier. Recessed lighting, granite counters, SS appliances, mosaic backsplash, shaker cabinets w/crown mouldings, a barn door to the walk-in pantry & a central island are some of the features you will adore about the pristine eat-in kitchen... The majestic main bedroom boasts a sitting area, bountiful natural light, backyard access, & a lavishing ensuite w/dual vanities, a freestanding soaking tub, a fully tiled enclosed shower, & a large walk-in closet. The outstanding backyard provides a cozy covered patio, paver pathways, & a lovely firepit that will make your night gatherings very memorable. There is an office that can be turned into a bedroom with its own bathroom and entry. This gem won't last for long!
12423 N 64th Street
Scottsdale, AZ 85254
$1,650,000
4
Beds
3
Baths
3,599
SqFt
Status
Active
MLS #
6783418
Property Type
Single Family Residence
Price Type
--
This non-HOA ranch style home has been renovated from top to bottom with a nearly 600 square foot master suite addition. The remodeled kitchen showcases custom designed cabinets from Affinity Kitchens, an expansive granite island, and a Wolf induction stovetop. The newly added master suite is made out of ICF block for energy efficiency and peacefulness. All major systems have been replaced on the home between 2019 and 2024 including the roof, two ACs, the electrical panel, water heater, and new stucco. The guest house can function as the perfect in-law suite or rental. The almost acre-sized lot has room for your boats, cars, and RVs. It is also horse ready with a 5 stall barn. This is a truly move in ready and modernized home!
5224 W Creedance Boulevard
Glendale, AZ 85310
$1,650,000
5
Beds
4.5
Baths
4,592
SqFt
Status
Active
MLS #
6665837
Property Type
Single Family Residence
Price Type
--
WOW! This magnificent horse property, nestled on a one-acre lot in a tranquil cul-de-sac, offers an exceptional living experience. It features a circular driveway leading to a 5-car garage, an RV garage, and extensive parking spaces, accommodating various vehicle types with ease. The home's interior is a testament to luxury and comfort, boasting vaulted ceilings that create an airy and open ambiance. The stone floors add an element of rustic elegance, while plantation shutters provide both privacy and style. The living areas are spacious and well-appointed, featuring a wet bar, wall niches, and a two-way fireplace that serves as a focal point, enhancing the home's cozy yet sophisticated feel. Culinary enthusiasts will be delighted by the kitchen, which is equipped with wood cabinetry, granite counters and backsplash, stainless steel appliances including wall ovens, and a large center island with a breakfast bar, making it a perfect space for both cooking and socializing. The main bedroom is a haven of relaxation, complete with a sleek bathroom that includes a soothing tub and dual sinks. Additional bedrooms are thoughtfully designed with built-in cabinets and desks, catering to various needs. A spacious loft with built-in cabinets serves ideally as an office or studio space. The property also features an in-law suite, offering a living/dining room, a kitchenette, a cozy bedroom with private outdoor access, a laundry area, a personal bathroom, and a loft that can be used as another bedspace, providing comfortable and independent living quarters. The backyard is a masterpiece of outdoor living, boasting a covered patio, gazebo, private putting green, built-in BBQ, multiple sitting areas, a firepit, and a fenced-in pool, offering endless entertainment and relaxation possibilities. Horse enthusiasts will appreciate the horse stalls and amenities, perfectly integrated into the spacious backyard. This property also offers breathtaking mountain and sunset views, adding to its allure. This is more than just a home; it's an experience waiting to be cherished. Come and see for yourself what makes this property so special!
5473 W Arrowhead Lakes Drive
Glendale, AZ 85308
$1,650,000
4
Beds
4
Baths
4,840
SqFt
Status
Active
MLS #
6780461
Property Type
Single Family Residence
Price Type
--
Lakefront Living at Its Finest! Located in one of the West Valley's most desirable neighborhoods, this stunning lakefront home offers 4 bedrooms, 4 bathrooms, plus a den and loft. The gourmet kitchen flows into an inviting family room, perfect for entertaining. Step outside to a resort-style backyard with a built-in BBQ, outdoor fireplace, and private dock. Just minutes from top shopping, dining, sports, and entertainment, this home is the ideal blend of luxury and convenience. Don't miss this unique gem—Arrange your private tour today!
4243 E Ashler Hills Drive
Cave Creek, AZ 85331
$1,650,000
4
Beds
3.5
Baths
3,616
SqFt
Status
Active
MLS #
6784829
Property Type
Single Family Residence
Price Type
--
Welcome Home! This spacious custom-built home features a split floorplan with 4 bedrooms, 3.5 baths, and 3,616 square feet. The open floorplan includes luxurious interiors with high-end finishes such as travertine and hickory wood flooring, alder wood cabinets and shutters throughout, and a chef's kitchen with thick custom granite countertops. Enjoy a primary bedroom & bathroom with a double-sided fireplace, Jacuzzi tub, snail shower and large walk-in closet with custom cabinetry. Bedrooms 2 & 4 feature also feature their own private bath. Perfect living space for adults, teens and/or kids! Sitting on a prime North/South facing 1.29-acre lot, the backyard features a private pool and heated spa, a large artificial grass area, two RV gates and a gated dog run - all with stunning desert and mountain views! Custom awnings cover the large extended patio, and the 4+ car garage is complete with custom cabinetry and a workshop! Great, quiet location with parks, shopping and A+ schools of excellence minutes away!
3454 E Inglewood Circle
Mesa, AZ 85213
$1,650,000
6
Beds
4.5
Baths
6,070
SqFt
Status
Active
MLS #
6784509
Property Type
Single Family Residence
Price Type
--
Nestled within the serene and exclusive confines of a prestigious gated community, this exceptional 6-bedroom, 4.5-bathroom home offers a rare combination of luxury and privacy. This home combines sophisticated design with unparalleled craftsmanship, featuring expansive living spaces, a resort-style pool, and a fully-equipped wine cellar in the basement—perfect for both entertaining and relaxed family living.
