Buying a New Home? Use This Checklist to Ensure Your Finances Are in Order

Buying a New Home? Use This Checklist to Ensure Your Finances Are in OrderBuying 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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8311 E Vista De Valle -- Scottsdale, AZ 85255

$1,295,000
3 Beds
2 Baths
2,027 SqFt
Status Active
MLS # 6784948
Property Type Single Family Residence
Price Type --
This beautifully updated 3-bedroom, 2-bath home spans 2,027 square feet and is situated on a generous 13,496 square foot cul-de-sac lot in the prestigious Pinnacle Peak Country Club. Boasting numerous modern updates and charming features, this home is designed for both comfort and style. As you approach the property, you'll be greeted by river rock walkway, a lovely courtyard in the front of the home, mountain views, complete with a tranquil water feature, setting the tone for the serene ambiance that awaits inside. Step through the entryway to discover gorgeous Saltillo tile flooring throughout the living spaces, accentuated by striking wood beams in the living room that add character and warmth. The home's layout is both functional and inviting, featuring a spacious living area and a beautifully updated kitchen with new refrigerator May 2024. New Pella sliding doors, installed in 2024, provide seamless access to the backyard, creating an effortless flow for indoor-outdoor living. The backyard is a true retreat, featuring a recently updated, resurfaced, and retiled pool (2020) and a putting green, perfect for outdoor fun and relaxation. You'll spend countless hours enjoying the sunrises and sets in this breathtaking backyard. The owner's suite is a private sanctuary, boasting a large walk-in closet and plush new carpet, installed in 2023 along with office/bedroom, for ultimate comfort. All bedrooms are equipped with wooden shutters & guest bedroom new window and blinds at sliders (2024) ensuring privacy and an abundance of natural light. Fresh paint and minor repairs completed in 2024 make this home truly move-in ready. Additional features include a roof that has been maintenanced in 2024 and new wooden door installed for the 2-car garage. Newley refreshed landscaping, recessed lighting and light fixtures Oct, 2024. This home combines modern updates with classic Southwest charm, offering the best of both worlds.

8301 E Angus Drive Scottsdale, AZ 85251

$1,295,000
4 Beds
3.5 Baths
2,615 SqFt
Status Active Under Contract
MLS # 6745058
Property Type Single Family Residence
Price Type --
This stunning residence features engineered hardwood flooring throughout and boasts raised 10-foot ceilings that create an airy, open atmosphere. Custom 18 foot slider that leads to a beautifully landscaped outdoor oasis that features a built-in ramada and grill, multiple citrus tress, a detached gazebo and full privacy with a 15 foot wall of greenery! The kitchen is a chef's dream with marble countertops and high-end Viking appliances. Huge custom master suite with a 10x10 walk in closet and a private secret garden! With four oversized bedrooms and 3.5 elegant bathrooms, this home offers ample space for relaxation and entertaining. This home also has a massive side yard built perfectly for an RV and lastly, paid off solar panels!

5253 E Palo Brea Lane Cave Creek, AZ 85331

$1,295,000
3 Beds
2.5 Baths
2,376 SqFt
Status Active Under Contract
MLS # 6766681
Property Type Single Family Residence
Price Type --
Luxury Toll Brothers built 3 bed +den, 2.5 bath remodeled home, on a private corner lot. Stunning vinyl flooring throughout, powder room with designer vanity, high-quality upgraded fixtures and fans flow throughout the home. Laundry room features a farm sink. The expansive great room w/ beautiful gas fireplace, custom built-in shelving, great room opens to the eat-in-kitchen featuring premium SS Jenn-air appliances, gas cooktop. large Island, wall oven and lighting. Owner had a decorators eye when adding the walk-in pantry, cabinets to the ceiling with extra lighting, desk in the hallway, bookshelf built into otherwise wasted space, and let's talk about the primary bedroom suite! The full bathroom features separate vanities, lovely soaking tub and tiled oversized walk-in shower. The walk-in closet needs a drum roll entrance featuring cabinets and shelving providing plenty of space for shoes, purses and clothing. Mirrored doors on the closets, make-up desk with the perfect lighting. The backyard is an oasis with the oversized covered patio and inviting pool to relax by. The location of this gated subdivision is situated near shopping, restaurants, golf, easy fwy/hwy access.

6707 N 10th Place Phoenix, AZ 85014

$1,295,000
4 Beds
4 Baths
2,700 SqFt
Status Active Under Contract
MLS # 6773329
Property Type Single Family Residence
Price Type --
Step into this newly completed modern marvel, reimagined from the ground up by a skilled builder. Only a few walls from the original structure remain, offering a fresh perspective on contemporary living. Enter through a inviting foyer illuminated by twin skylights, and be greeted by warm hardwood floors that flow throughout. A bright an airy family room, anchored by a sleek gas fireplace, blends effortlessly with a cozy dining area and artfully designed kitchen. The chef's haven features an oversized island, premium stainless-steel appliances, and quartz countertops, all framed by custom cabinetry. Both primary suites boast soaring vaulted ceilings, spa-inspired bathrooms, and spacious walk-in closets. The home offers thoughtful details like a tankless gas water heater in the attached two-car garage and private en-suite baths for all three bedrooms. Outside, the backyard is designed for serenity and low maintenance, with a covered patio, artificial turf, and privacy ensured by a solid block wall. There's even room for a pool if you wish. The front entry charms with a courtyard framed by brick pavers. As an added note, the seller, who is also the builder, owns the neighboring home and is currently working on plans to rebuild it, offering a rare opportunity to influence the future of this exclusive enclave.

3909 S Veronica Lane Gold Canyon, AZ 85118

$1,295,000
4 Beds
3 Baths
2,989 SqFt
Status Active
MLS # 6769878
Property Type Single Family Residence
Price Type --
Welcome to Montana Dorada, the best kept secret in Gold Canyon Arizona. This single level home is part of an exclusive Modern Farm Desert Collection. Offering paved roads, quick access to the US 60, close to shopping and dining, complete with breathtaking views of the iconic Superstition Mountains at every turn. Offering 2989 livable SF, 4 bedrooms, 3 bathrooms, a large kitchen island, wine bar, and a butler's pantry. This split floorplan offers a large owners suite and guest ensuite both with private access to the large covered backyard patio. All tile throughout with light earthy tones to compliment every style. The developers are offering a 25,000 credit for rate buy down and custom owners closet build out. This new build comes with an oversized 3 car garage complete with epoxy floor. Carefully positioned to offer both privacy and optimized views of the mountains. Montana Dorada in Gold Canyon Arizona offers peaceful living with amazing access to city amenities. If you are looking for golfing, hiking, biking, and sensational outdoor adventure while still being close to modern amenities this beautiful single level new build in Montana Dorada is a must see.

9220 E Whitethorn Circle Scottsdale, AZ 85266

$1,295,000
3 Beds
3 Baths
2,672 SqFt
Status Active
MLS # 6777879
Property Type Townhouse
Price Type --
Experience unparalleled luxury & a sophisticated lifestyle at The Boulders Resort & Spa. Situated on a coveted golf course lot & set back from the 18th Fairway, this stunning FULLY FURNISHED, TURNKEY villa is a rare gem that combines elegance, comfort & the warmth of home. Whether you're looking for a primary residence, a vacation getaway, or an investment property w/ current residential income potential, this beautifully appointed residence offers the perfect sanctuary for relaxation, entertaining and creating unforgettable memories. Your villa comes tastefully outfitted w/ everything needed to unwind, including ALL furnishings, artwork, linens & household items. Luxurious features & finishes include a gourmet kitchen, an open-concept great room showcasing soaring ceilings w/ vega beams, walls of windows & a gas fireplace. 3BR's/3BA's (two are primary suites) provide spa-like ensuites. The outdoor living area includes a covered patio, outdoor dining space, and a second level sun deck, perfect for taking in the beautiful Arizona sunsets. Enjoy exclusive access to The Boulders Resort amenities, including the enclave's private community pool, golf courses, spa services, dining, and trails. Don't miss the opportunity to make this stunning villa your own!

2731 W Desert Ranch Road Phoenix, AZ 85086

$1,295,000
5 Beds
4 Baths
3,068 SqFt
Status Active
MLS # 6665619
Property Type Single Family Residence
Price Type --
SELLER FINANCING AVAILABLE $1,425,000. LEASE OPTION/LEASE PURCHASE AVAILABLE. Inquire for details. Resort style backyard on one acre w/ NO HOA! Entertainer's dream! NINE HOLE PUTTING GREEN COURSE! TENNIS/BASKETBALL COURT! COMPLETE SEPARATE GUEST HOUSE! 2 GARAGES FOR 5 CARS (2 + 3 CAR CLIMATE CONTROLLED GARAGE) + parking for more! MOUNTAIN VIEWS! Heated AND cooled pool w/ baja shelf! Fire pit, outdoor kitchen, OWNED solar! Open floorplan, & master bedroom split floorplan! This home truly has it all. Must see to truly appreciate the unique character & setting of this home, located conveniently near the immediate suburban/shopping areas in Anthem, AZ. Easy freeway access to continue to enjoy the natural playgrounds of Lake Pleasant, or to hike one of the many trail nearby, just to name a few options. Drive South for a dose of ''city'' in Phoenix, or North towards Sedona, Flagstaff & more INTERIOR DETAILS *Smart House w/many features programmable through apps *Custom Built in 2003 *Owned Whole-Home Solar System (19.77kw, 59 LG Panels) *Superior Architectural Details *Mantel-and-Hearth Fireplace *Dual-Pane Windows *Owned Water Softener *Indoor Laundry w/Cabinetry *Built-In Microwave & Wall Oven *Walk-In Pantry w/Shelving *9', 10', 12' Ceilings *Updated indoor/outdoor LED lighting *Wooded Accent Wall *Hardwood Floors & bedroom wood flooring & baseboards *Natural Travertine Tile *Master Shower Tile *Fresh Well Water *2-Car epoxied Garage w/side entry & built in cabinetry *3-Car drive thru Garage, epoxied w/Built-In cabinetry EXTERIOR DETAILS * Lighted tennis/basketball court *9 hole mini putting greens *Three 50 amp RV plug-ins on property *Landscape rock in front and back yards *Painted front walls (2021) *Upgraded Septic System/Tank *Garage doors-added outside keypads w/lifetime warranty *100% Silicone Roof Coating w/50-Year Warranty (2019) *Custom Iron-And-Glass Entry Door *Preferred North/South Exposure *Split-Stone Fireplace Column *Pebble-Finish Pool: Heats & Cools, Variable Speed Pump *Heated Spa *Guest House Paver Patio w/Extensive Sail Shade *Covered Front & Back Patios *Front/Back Auto Watering System *East & West Side RV Gates *Easy-Care Desert Front Landscape *Block Wall Fencing for Privacy Not ready to make this home your primary residence? With no HOA, consider this home, currently an active short term rental, as a spacious and unique opportunity for short term rentals, seasonal rentals, and more. MAIN HOUSE: 3 BD 3 BA 2,591 SF 2-CAR GARAGE GUEST HOUSE: 1 BD 1 BA 477 SF 3-CAR GARAGE (previously was used as a drive-thru option, currently being used as a game room and with a new sliding glass door).

4114 Cactus Blossom Road Wickenburg, AZ 85390

$1,295,000
2 Beds
2.5 Baths
2,381 SqFt
Status Active
MLS # 6705527
Property Type Single Family Residence
Price Type --
Welcome to your dream oasis in the heart of the exclusive Wickenburg Ranch community! Within the serene beauty of this Brasada home, this stunning residence offers an unparalleled blend of luxury and tranquility. As you step through the front courtyard, you're greeted by the inviting charm of this home's curb appeal. Modern neutral colors adorn the exterior, setting the tone for the elegance that awaits inside. Prepare to be captivated by the breathtaking views that greet you from the backyard oasis. Overlooking the mountains, lush golf course, and tranquil creek, the backdrop is nothing short of awe-inspiring. Spend evenings gathered around the cozy firepit, soaking in the serenity of the desert landscape. With two remote controlled patio shades you have the ability to easily shade the patio at will. Inside, the home exudes warmth and sophistication, with plenty of natural light streaming through numerous windows. The updated kitchen boasts sleek appliances, granite counters, ample cabinets, and extra storage areas, making it a haven for any culinary enthusiast. The dining room and master bedroom both have window seats for additional seating and storage. In the living area, a gas stove beckons for cozy evenings spent curled up with a good book or enjoying the company of loved ones. Retreat to the luxurious master suite, where the updated bathroom awaits with a spacious walk-in shower and indulgent soaking tub. Relax and unwind in style, surrounded by elegant finishes and serene ambiance. The oversized laundry room serves as a multifunctional space, doubling as a convenient office area. The guest bedroom offers privacy and comfort with its own en-suite bathroom, ensuring that visitors feel pampered during their stay. Pleated shades and plantation shutters throughout the home provide both style and functionality. In addition, the home has a central vacuum for convenience and a wine fridge for making entertaining a breeze. Completing this exceptional property is an oversized 3-car garage, complete with beautiful, attached cabinets for additional storage, and two golf cart electrical outlets for charging. Whether you're a car enthusiast or simply in need of extra space, this garage has you covered. Don't miss your chance to experience resort-style living in this exquisite Brasada Shea home!!

7624 E Charter Oak Road Scottsdale, AZ 85260

$1,295,000
3 Beds
2 Baths
2,324 SqFt
Status Active
MLS # 6719798
Property Type Single Family Residence
Price Type --
Discover a meticulously renovated masterpiece in the heart of Buenavante. This home has undergone a complete metamorphosis, boasting a new roof, windows, doors, and a sleek synthetic stucco exterior. Inside, you'll find elegant engineered hardwood floors, a gourmet kitchen, spa-like bathrooms, and modern finishes throughout. Enjoy peace of mind with a new AC system, repiped plumbing, and a revitalized outdoor oasis featuring a resurfaced pool, lush landscaping, and automated irrigation. With a spacious 13,000 sq ft lot, there's ample room to create your own private retreat, such as a casita or guest house. Perfectly located near top-rated schools, shopping, dining, and major freeways, this home offers the ultimate in convenience and luxury. Don't miss this opportunity to own this home. Don't miss this opportunity to own a truly exceptional property. Schedule your private showing today!

7272 E Gainey Ranch Road Unit 43 Scottsdale, AZ 85258

$1,295,000
2 Beds
3 Baths
1,895 SqFt
Status Active
MLS # 6730003
Property Type Townhouse
Price Type --
Enjoy the Gainey Ranch lifestyle in this updated 2 bedroom plus den condo with 3 full baths. Situated on the Lakes Golf course. Bright end unit with 2 master suites and views of the golf course. Both with large decks to truly enjoy the morning and afternoon sun. Enjoy all the amenities Gainey ranch has to offer. New ''state of the art'' Gainey Ranch Estate club with everything from tennis and pickle ball to a spacious work out facility. Close to shopping at the Gainey Village and walking to the Hyatt Hotel! Gainey Ranch offers an array of amenities, including tennis, pickleball, a fitness center, community pool and optional membership to the Gainey Ranch Golf Club. Enjoy top-tier shopping, dining, and entertainment just minutes from your doorstep.

8707 E Clarendon Avenue Scottsdale, AZ 85251

$1,295,000
5 Beds
2 Baths
1,993 SqFt
Status Active
MLS # 6746680
Property Type Single Family Residence
Price Type --
Introducing the ''House of Gucci.'' a property that redefines what luxury, tranquility, and living your best life looks like! This stunning home features a spacious 5 bed/2 bath with the finest decor exuding elegance and beauty! The bright open floor plan leads out to the resort like backyard where endless fun begins. Take a dip in your sparkling heated pool and spa, roast marshmallows by the fire pit, entertain friends at your BBQ, or putting green, or simply just lounge on the beautiful outdoor furniture. Or perhaps stay inside the custom game room gathering with family and friends making memories. All this and in the most sought after part of Sunny Scottsdale, just minutes from the heart of Old Town where you can enjoy the finest dining, shopping and night life!

8989 N Gainey Center Drive Unit 101 Scottsdale, AZ 85258

$1,295,000
3 Beds
3 Baths
2,113 SqFt
Status Active
MLS # 6753423
Property Type Townhouse
Price Type --
Experience luxury living in this stunning 3-bedroom, 3-bath townhome located in Gainey Ranch, a prestigious guard-gated golf course community. Newly remodeled and situated on a premium corner lot near the pool and spa, this home boasts elegant finishes including hardwood flooring, custom metalwork, and beautiful waterfall quartz countertops. Relax in the Arizona sun on the expansive patio or oversized balcony. The newly renovated Estate Club offers exceptional amenities, including a state-of-the-art fitness center, swimming pool, and courts for tennis and pickleball. Conveniently close to fine dining, shopping, and entertainment in Scottsdale, this townhome is the perfect blend of luxury and lifestyle.

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