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

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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1059 W Caroline Lane Tempe, AZ 85284

$599,900

4 Beds

2.5 Baths

2,486 SqFt

Status Active

MLS # 6758794

Property Type Single Family Residence

Price Type --

You'll LOVE this beautiful 4-bed, 2.5-bath home in Tempe Village! Its charm starts with a 2-car garage & a manicured landscape. Be greeted by a welcoming living room & a formal dining room, separated by a graceful archway! Continue onto the inviting family room that opens to the kitchen, allowing a greater traffic flow. The large kitchen has granite counters & backsplash, staggered cabinetry, a huge island, a breakfast nook, and built-in appliances w/cooktop elec. Natural light filled the spaces, complemented by designer paint, tile & wood-look floors downstairs, and plush carpet on the bedrooms upstairs. Main bedroom boasts an ensuite with dual sinks, separate tub/shower, & a walk-in closet. Discover the backyard with a paver-covered patio, artificial turf, & a splash pad! Move-in ready!

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18835 N 16th Place Phoenix, AZ 85024

$599,900

4 Beds

2.5 Baths

2,259 SqFt

Status Active

MLS # 6761517

Property Type Single Family Residence

Price Type --

Welcome to this beautifully updated home in the heart of North Phoenix! This charming property in a gated community, boasts an open, airy layout that fills the space with natural light, enhanced by fresh, modern paint throughout. The kitchen features sleek white cabinetry, creating a clean and inviting space for cooking and gathering. Situated on a large lot, this home offers ample outdoor space, perfect for relaxation or play. From the upstairs bedrooms, enjoy breathtaking mountain views, adding a serene and picturesque backdrop to your daily life. With Mountains and trails just minutes away, this home is an ideal retreat for nature enthusiasts seeking both comfort and adventure.

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21207 E Domingo Road Queen Creek, AZ 85142

$599,900

4 Beds

3 Baths

2,188 SqFt

Status Active

MLS # 6769045

Property Type Single Family Residence

Price Type --

Welcome to your dream home in Nauvoo Station! Has SOLAR!! This meticulously maintained 4-bedroom residence offers a spacious, open-concept design with surround sound in the great room, elegant tile flooring, plush carpet in select areas, and modern light fixtures throughout. The chef's kitchen features pristine white cabinetry, stainless steel appliances, quartz countertops, a pantry, and a large island with a breakfast bar, perfect for casual dining or entertaining. The primary suite includes a generous walk-in closet and a beautifully updated en-suite with dual sinks. Outside, enjoy the serene backyard with a putting green, lush lawn, and private pool, ideal for outdoor relaxation. This home is a true gem—don't miss your chance to make it yours!

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24129 N 165th Lane Surprise, AZ 85387

$599,900

4 Beds

3 Baths

2,599 SqFt

Status Active

MLS # 6762704

Property Type Single Family Residence

Price Type --

Next Gen living at its finest in the master-planned community of Asante in Surprise. This exceptional residence features a unique Next Gen Suite with its own entrance, kitchenette, and living space—perfect for multi-generational living or a home office. The main home offers an inviting layout with 3 spacious bedrooms and 2 bathrooms, 10-foot ceilings and luxurious vinyl plank flooring throughout. The gourmet kitchen showcases white antique-style cabinets, stainless steel appliances, a gas range, and a generous walk-in pantry. The great room features a faux whitewashed block wall and double sliding doors capturing natural light in from the backyard. The owner's suite is accented with a charming shiplap wall, private access to the backyard, walk-in closet and a beautifully appointed en-suite bathroom with dual sinks, granite countertops, and a tiled walk-in shower with rain shower head. Two additional bedrooms share a guest bathroom with granite counters and a tub/shower combo. The Next Gen Suite offers a private setup complete with a kitchenette that includes a full-size refrigerator, dishwasher, maple spice cabinets, and a conventional microwave. The living and dining area leads to a bedroom, walk-in closet with washer and dryer hook-up, plus a bathroom making it ideal for accommodating parents, adult children, guests or workspace. Additional highlights include the Puragain water purification and softener system and reverse osmosis. The backyard oasis is perfect for outdoor gatherings or relaxation, featuring a covered patio, extended pavers, and low-maintenance synthetic grass. Come tour this Next Gen home today!

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2560 N Lindsay Road Unit 66 Mesa, AZ 85213

$599,900

4 Beds

3 Baths

2,151 SqFt

Status Active

MLS # 6763255

Property Type Single Family Residence

Price Type --

SELLER IS OFFERING BUYER CONCESSIONS with a competitive offer!! This beautifully remodeled 4-bed, 3-bath home in Mesa is a must-see! Designed by the renowned Maverick Design, the home boasts modern elegance throughout. The primary bathroom is a true showstopper with a brand-new floor-to-ceiling tiled walk-in shower, featuring double shower heads for a spa-like experience. The spacious kitchen is perfect for the home chef, complete with new stainless steel appliances and stunning granite countertops. Downstairs, the finished basement offers a private retreat with its own bedroom and full bathroom. The home is outfitted with new luxury vinyl floors and upgraded baseboards, adding a touch of sophistication. Two brand-new HVAC systems ensure year-round comfort!!

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18578 E Pine Barrens Avenue Queen Creek, AZ 85142

$599,900

4 Beds

2.5 Baths

2,931 SqFt

Status Active

MLS # 6765313

Property Type Single Family Residence

Price Type --

Welcome to this spacious and inviting 2,931 sf single-level home in popular Sossaman Estates, ideally located at the Gilbert/Queen Creek border! Designed with a modern open floorplan and 10 ft ceilings, this home offers comfort and plenty of space for everyday living and entertaining. The kitchen is ready for every chef's needs, featuring double wall ovens, a prep island with cooktop and breakfast bar, ample counter space, and plenty of cabinets. A bright breakfast nook with bay windows, an extra-large dining area, and a butler's pantry with built-in wine racks add even more charm and functionality. French doors from the living room open up to a sizable backyard complete with a covered patio, pergola, and mature trees. Side yards offer potential for an RV gate and additional storage space. The spacious primary suite provides a relaxing retreat with two walk-in closets, access to the backyard, a garden tub, a large shower, and dual vanities. Additional highlights include three well-sized bedrooms, a versatile bonus room, and built-in workstations perfect for work-from-home or study areas. The large laundry room with folding counter and plenty of storage space adds convenience. Set on almost 1/3 acre on a corner lot, there's a 2-car garage and slab parking for up to four vehicles, ideal for families and gatherings. This home's location is a dream, with easy access to greenbelts, walking trails, shopping, dining, schools, and the 202 freeway. As an estate sale, it's priced generously under market value for potential instant equity! Recent updates include: *NEW BLINDS: In Kitchen, Dining Area, Living Room, Master Bedroom, & Bedroom 4. *PLUMBING: NEW Water Softener. Water Lines Flushed. New Valves/Cartridges in Kitchen, Bathrooms, Laundry Room, & Hose Bibs. Repaired Toilet/Shower Head Leaks. *ROOF: Repaired Cracked/Slipped Roof Tiles/Mortar Caps. *HVAC: NEW Condensers w/10 yr warranty. *MISC: Repaired Bathroom Fans & Sink Stops. Secured Toilet Tank, Kitchen Cabinet & Door Thresholds.

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2427 E Marmora Street Phoenix, AZ 85032

$599,900

5 Beds

3 Baths

2,249 SqFt

Status Active

MLS # 6772891

Property Type Single Family Residence

Price Type --

Rare opportunity to own a remodeled 5 Bedroom, 3 Bathroom home, Mountain Views in North Phoenix. OWNED SOLAR!! Luxury Vinyl Plank flooring throughout, gorgeous high end kitchen, fireplace, remodeled bathrooms with the latest styles! Excellent open concept main living room, spacious primary suite, and your bonus ''Arizona'' room has endless possibilities. Low maintenance backyard featuring turf and a great amount of patio space. 3 Brand new HVAC & Electrical Panel! Just a short walk to schools, mountain preserves, 51 freeway, and a few miles to the new reimagined PV in Phoenix.

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6708 E Juniper Avenue Scottsdale, AZ 85254

$599,900

2 Beds

2 Baths

1,428 SqFt

Status Active

MLS # 6780389

Property Type Single Family Residence

Price Type --

Experience the charm and elegance of North Scottsdale in this beautifully remodeled home, nestled in a highly sought-after neighborhood. This property boasts a prime location, providing convenient access to major freeways, an array of shopping options, and exquisite dining experiences. The thoughtful renovations enhance both style and comfort, making it the perfect retreat for relaxation or entertaining guests. Enjoy the vibrant lifestyle that North Scottsdale has to offer, where outdoor adventures and cultural experiences are just moments away. Don't miss the opportunity to make this stunning home your own!

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721 E State Avenue Phoenix, AZ 85020

$599,900

3 Beds

2 Baths

1,490 SqFt

Status Active Under Contract

MLS # 6734998

Property Type Single Family Residence

Price Type --

Adorable updated North Central Charmer in the highly desirable Northwood neighborhood. Cute as a button, lovingly restored and refreshed. HUGE green irrigated lot with abundant room for pool, hardscape or addition for more square footage. Updates include new windows, new electrical panel and outlets, full kitchen and baths, interior and exterior paint, new laminate wood flooring. Please see supplement in document tap for full list. Highly desired Madison School district, within walking distance to Madison Simis. Conveniently located in the North Central corridor~ a quick walk or bike ride to Lucy's at the Orchard, Murphy Bridal Path, Uptown Farmers Market and many new restaurants. Minutes from downtown and easy access to freeways. A true move in ready gem ready for you to call hom New interior and exterior paint New flooring throughout New windows (except front grid window) New baseboards Fully remodeled kitchen cabinets, countertops, plumbing, appliances Fully remodeled bathrooms including plumbing Updated cabinet hardware throughout Added laundry room storage cabinets New exterior primary bedroom door New closet racks and shelving New ceiling fans + light fixtures Updated electrical panel New electrical at outlets Front exterior planter Updated irrigation leveling New exterior patio paint New patio fan, electrical outlets New exterior lighting

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25031 S Desert Flower Court Sun Lakes, AZ 85248

$599,900

2 Beds

2 Baths

1,883 SqFt

Status Active Under Contract

MLS # 6750998

Property Type Single Family Residence

Price Type --

LOVELY residence in the private, GATED COMMUNITY of Oakwood. FIRST IMPRESSEIONS wrought iron front door greets you as you step into this REMODELED beauty! Gorgeous high-end STONECREEK, soft close, DOVETAIL kitchen cabinets w/GLASS doors, STUNNING QUARTZ countertops, sleek SUBWAY TILE backsplash & PORCELAIN APRON FARM sink. Tons of NATURAL light & PLANTATION SHUTTERS, neutral paint, spacious primary bdrm, lovely walk-in shower w/PEBBLE STONE accents & CUSTOM vanity cabinets. Hall bath also tastefully UPDATED! Huge laundry rm w/tons of storage & countertops. Private backyard w/LUSH landscape & real grass! PAVERED walkway & driveway. NEWER HVAC 2018, newer EXTERIOR paint 2022, newer water heater & patio ROOF 2023. This 40 & over ACTIVE ADULT community has tons of AMENITIES,clubs, events!

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2234 E Donald Drive Phoenix, AZ 85024

$599,900

3 Beds

2 Baths

1,675 SqFt

Status Active Under Contract

MLS # 6771942

Property Type Single Family Residence

Price Type --

Beautifully upgraded 3-bedroom, 2-bath home in the desirable Redhawk community. This home offers an expansive open floor plan perfect for family and guests. Enjoy luxurious features like upgraded tile flooring, granite countertops, and new AC units (installed in 2022). Relax in the cozy family room by the fireplace, which opens to the kitchen featuring stainless steel appliances. The open backyard features a sparkling pool with upgraded landscape lighting, making it an entertainer's dream. The home also boasts low-maintenance artificial turf in all the right places. With a double-car garage and an expanded paved driveway, there's plenty of parking. Don't miss this opportunity to call this stunning home your own!

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3622 E Columbine Drive Phoenix, AZ 85032

$599,900

4 Beds

2 Baths

2,098 SqFt

Status Active Under Contract

MLS # 6772794

Property Type Single Family Residence

Price Type --

Beautiful Slump Block Ranch home in Roadrunner Estates. Corner Lot and elevated! This lovely home is just waiting for it's new owners to create endless memories. The home has been freshly painted inside and out, and also boasts a new roof and newer A/C and newer dual pane windows and a 2 car garage. Open layout that offers endless possibilities and offers great living spaces. Can you say location? The location is steps away from Roadrunner park and just minutes away from the new reimagined PV Mall Development that will offer so many options for dining and shopping. Whole Foods, Lifetime and Flower Child just to name a few. Imagine walking to the famers market on Saturday or just biking around the park or feeding the ducks at the pond. Relaxing backyard and desert front & home is Turn-Key!

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