Buying a home is an ideal investment for many people because not only is it a place that belongs to them, it can also be very beneficial financially. While you may be strongly considering buying a home for these reasons, it’s also important to be in good financial health so that your ideal home purchase is within reach. If you’re currently perusing the market for prospects, here are some reasons you should pay down debt before taking the leap into home ownership.
Good Credit History
The amount of your debt load and whether or not you’re paying off your minimum monthly payments has a considerable impact on your mortgage approval, so ensuring that you have good credit history going into the process is important. If you’ve had hiccups with your credit, make sure you go through your credit report prior to submitting your application to determine where you’re at.
Lowering Your Debt-to-Income Ratio
Whether or not you’ve heard the term, your debt-to-income ratio (DTI) has a significant impact on how much house you can afford. Made up of the amount of your monthly debt payment and current house payment, your DTI should be below a certain percentage as this will enable you to afford a higher home payment each month.
Shifting Interest Rates
Getting a mortgage is one thing, but interest rates add more to the monthly amount you’ll owe. A fixed-rate mortgage can seem like a good idea, but if interest rates are low you may end up paying more than you would on a variable rate, which can be hard to predict. As interest rates are a part of home ownership, having lower debt will enable you to deal with these additional costs.
Finding The Right Home
Putting your money into a home can be one of the best purchases you’ll make, but if you’re unable to afford the home you love, it can be a disappointing fact to face. While there are no assurances that paying down debt will enable you to afford your dream home, it can go a long way towards giving you more options that will fit your budget.
Buying a home can be a money saver in the long run, but if you’re struggling to keep up with your debt payments buying into the market can be more of a burden than anything else. If you’re currently paying down debt and considering a home purchase, give me a call and let me help start the planning process – J.P. Cook – 602-320-4253.
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5547 E Olesen Road
Cave Creek, AZ 85331
$1,355,000
4
Beds
3.5
Baths
3,038
SqFt
Status
Active
MLS #
6763491
Property Type
Single Family Residence
Price Type
--
Almost Complete - Contemporary NEXTGEN Builders home: 4BD +office/den, 3.5 Bath, high-quality luxury with many upgrades. Oversized 2-Gar with attached 47' RV Gar with 12x14 RV door, on 1 acre lot. No HOA, paver front sidewalk & driveway apron with concrete driveway, large kitchen island, upgraded SubZero/Wolf Appliance Pkg:, Gas Range, Microwave Drawer, 48'' Subzero built-in Refrigerator, Quartz counter tops throughout. Many upgrades, all bedrooms have walk in closets. Owner's bath has large entry shower with a standalone tub and double sinks. 12 Ft ceiling in great room and 8' doors throughout, nicely finished. Energy efficient Spray foam insulation, 2x6 framed and fully sheathed exterior, post tension foundation, Pictures are from a completed model home. Buyer to verify all facts.
3888 E Weston Lane
San Tan Valley, AZ 85140
$1,350,000
4
Beds
3.5
Baths
3,543
SqFt
Status
Active
MLS #
6784720
Property Type
Single Family Residence
Price Type
--
Welcome to your dream home in San Tan Valley! This stunning new build is truly a great opportunity, offering 4 bedrooms and 3.5 bathroom. Situated on a spacious 1.25 acre lot with no HOA, this property is perfect for those looking for their own piece of paradise. Featuring builder upgrades throughout and front landscaping included, this home will boast a luxurious feel from the moment you step inside. The open concept floor plan is perfect for entertaining guests. This property is also horse friendly, making it ideal for equestrian enthusiasts. And with a generous 4 car garage, there's plenty of room for all your vehicles and toys. Don't miss out on this incredible opportunity to own a slice of Arizona heaven. Finishes available upon request. Estimated completion is February 2025.
41619 N River Bend Road
Phoenix, AZ 85086
$1,350,000
4
Beds
4.5
Baths
3,770
SqFt
Status
Active
MLS #
6783540
Property Type
Single Family Residence
Price Type
--
Experience luxurious living in the prestigious Anthem Country Club, where elegance and detail abound. The sophisticated stacked stone accents set the tone for the beauty that unfolds inside. Step into an interior with wood-look tile flooring, recessed lighting, and plantation shutters that enhance the home's timeless charm. The expansive great room is perfect for hosting, highlighted by a cozy fireplace, surround sound, and beautiful media niches that blend style and functionality. The gourmet kitchen is a chef's dream with top-of-the-line stainless steel appliances, granite countertops, and a prep island with a breakfast bar. Beautiful cabinetry with crown moulding and a tile backsplash add elegance, complemented by a butler's service area. The owner's retreat features private outdoor Serene backyard stands out, which highlights a covered patio, exterior fireplace, mountain views, built-in BBQ, a sparkling pool, & spa. If entertaining is on your mind, you will absolutely love to own this paradise. Don't miss!
6614 W Sweetwater Avenue
Glendale, AZ 85304
$1,350,000
5
Beds
3.5
Baths
4,489
SqFt
Status
Active
MLS #
6756750
Property Type
Single Family Residence
Price Type
--
Built on nearly an acre, this ranch style home was designed with love and extreme attention to detail. The gourmet chef's kitchen is perfectly placed to allow large family gatherings and every day comfort. The star of the show is the 48'' Bertazzoni gas stove complemented by gorgeous granite countertops and custom cabinetry. Your eyes will be drawn to tasteful timeless design features throughout the home. Your family and friends will have so many rooms to choose from to work, play, entertain and relax.: (click more tab for more info) Even the hallways are extra wide, giving the flow of the floorplan a sense of ease. Create your best memories in the RESORT like back yard: Earth Air Fire Water featured in every way: Earth- luscious green grass and mature fruit trees AIR-with nearly and acre there is room to breathe, run and play FIRE- built in gas firepit and lots of string lights add warmth and ambiance AND OF COURSE- WATER!! The sparking pool is heated and has an amazing grotto water slide feature. The outdoor kitchen is surrounded by plenty of seating at the bar and covered patio. As that isn't enough there is also a hot tub with gazebo. Family reunions, weddings, birthday parties will never be the same when you truly have a resort in your own back yard. The home has 5 bedrooms and 3.5 bathrooms. Authentic southwestern details add a timeless feel to the tasteful design and finishes of this stunning home. Built-in cabinets and wood features add a sense of luxury throughout the interior and exterior. So much more: New Roof RV gate Barn style workshop/ covered parking Lots of slab parking for all the toys Lots of windows Pride of ownership Flood irrigated lot Stacked stone ledger accents on exterior Gorgeous Vigas / pillars with copper accents and unique corbels En Suite on west end of home Garden tub with jets in Primary bedroom Functional, spacious, and versatile floor plan Multi generation living Extra wide hallways Block fence Mature trees Zoned AGRICULTURAL NO HOA Horses are allowed, but buyers to check with city to see how many
4575 S Exeter Street
Chandler, AZ 85249
$1,350,000
3
Beds
3
Baths
2,863
SqFt
Status
Active
MLS #
6769931
Property Type
Single Family Residence
Price Type
--
LAKEFRONT LUXURY! This rare unicorn lot in the coveted Pinelake Estates offers UNMATCHED PRIVACY with no front/back neighbors, & the community's most stunning & exclusive lake views. The front & backyard have undergone $100K+ in upgrades, including new synthetic grass & stone landscaping! Enjoy an infinity pool that seamlessly blends with the serene lake. Inside, a bright, freshly painted open living space flows into a chef's kitchen with quartz countertops, premium appliances, & a spacious island. The primary suite offers private lake views, a spa-like freestanding tub, & a steam shower for a truly secluded retreat. Additional features include a home-wide surround sound system, 3-car garage, RV gate, & 2 new Trane HVACs. Prime location near shopping, dining, & more-this is luxury living!
33655 N 78th Place
Scottsdale, AZ 85266
$1,350,000
3
Beds
3.5
Baths
2,810
SqFt
Status
Active
MLS #
6780877
Property Type
Single Family Residence
Price Type
--
Gorgeous renovated and immaculate desert retreat is nestled on a 1/3 acre lot at the end of a cul-de-sac in guard gated Winfield. The popular Morganite + detached casita floorplan features 3 en suite bedrooms and 3.5 baths. The casita and the home both open to the oversized, gated front courtyard- a lovely space to savor a cup of coffee or glass of wine and take in the mountain views. As you step inside, you'll notice the soaring ceilings and clerestory windows which fill the space with natural light. The open floor plan features wood look tile floors and a stacked stone accent wall with cozy gas fireplace to enjoy on chilly nights. Home chefs will delight in the gourmet kitchen with 6 burner Viking gas range and hood, wall oven, built-in refrigerator, prep sink and large granite island. Luxurious owner's suite features a spacious bedroom, freestanding bathtub, granite counters with separate makeup area, large tiled shower and generous walk-in closet. A large secondary bedroom is split from the primary bedroom and includes a walk-in closet. A small room off the hallway was originally built as a temperature controlled 2000 bottle wine room and is currently used as a storage/hobby room. Wine enthusiasts can easily convert back to its former use. The detached en suite casita is a private haven for guests or would be ideal for a parent, adult child, office, studio or gym. Relax in the backyard oasis with resort style pool and spa complete with bar stools, baja shelf, water feature, custom lighting and misters and travertine decking. The backyard was designed for entertaining with large covered and uncovered patios, a built-in grill and synthetic turf area. Winfield is located close to shopping, dining and golf courses set amid unique boulder outcroppings with Winfield Mountain as its centerpiece. The community features a 13,000 sq ft clubhouse with workout facility, aerobics/dance room, therapy spa and steam rooms, meeting rooms and a plethora of social clubs. Winfield also offers a robust tennis program with 8 courts ( 2 clay), dedicated pickleball courts, heated pool, and private hiking trails. Plenty of opportunities to meet and socialize with neighbors! Kitchen, baths and floors have been renovated in this impeccable home along with recent HVAC (3 Trane units), roof (house and casita), water heater and pool equipment replacements. Nothing left to do but move in and enjoy the Winfield active lifestyle! See Features and Upgrades list in Documents Tab for a complete list.
8625 E Clubhouse Way
Scottsdale, AZ 85255
$1,350,000
3
Beds
2
Baths
2,416
SqFt
Status
Active
MLS #
6770711
Property Type
Single Family Residence
Price Type
--
Gorgeous Updated home in the Prestigious Guard Gated Pinnacle Peak Country Club Estates. This 3 bedroom 2 bathroom home is meticulously maintained and beautifully updated. The backyard provides a private Oasis for all of you outdoor entertaining. New kitchen, South facing windows and doors as well as new floors throughout, too many upgrades to list, please see attached document. Easy walking to Pinnacle Peak Country Club.
8028 E La Junta Road
Scottsdale, AZ 85255
$1,350,000
3
Beds
3.5
Baths
2,853
SqFt
Status
Active
MLS #
6767438
Property Type
Single Family Residence
Price Type
--
Enjoy the ultimate Scottsdale experience in this beautiful 2853 Sq Ft house. This home has 3 bed 3.5 bath on 1 acre lot with a heated pool and is in the heart of Pinnacle Peak! The home includes desert landscapes, spectacular sunsets, and close to golf, hiking, casual & fine dining and shopping!!! The back yard has a patio, lots of room, and slider doors through-out the home to exit to your private retreat. 1 Home feels even larger due to high ceilings and open floor plan. Featuring 3BR & 3.5 baths make this an easy to live in home. New Travertine floors laid in 11/2020. In 2021 Kitchen Cabinets refinished. Home has a big, bright, open feeling. Quiet streets, great for walking the dog, biking, yet so close to all amenities. A VALUE; WON'T LAST LONG!
522 Buenagua Road
Payson, AZ 85541
$1,350,000
3
Beds
3
Baths
2,234
SqFt
Status
Active
MLS #
6770126
Property Type
Single Family Residence
Price Type
--
Nestled in the quaint community of Kohl's Ranch, this remarkable property encompasses the perfect blend of natural beauty, tranquility, and year round living. This property has been in the same family for 70 years and has been meticulously maintained showing pride of ownership in every detail.Situated on a level .34 acre lot, with 134 feet of frontage on Tonto Creek, this home is a sanctuary of comfort and elegance. The fully fenced backyard has large ponderosa, black walnut, juniper and apple trees. Several types of flowers, vines and a lush green lawn are watered by an underground sprinkler system. A tree house is in the shaded area of the backyard. Through the back gate there is a small shaded patio right next to Tonto Creek which is perfect for fishing or enjoying a good book.
8293 E Tailspin Lane
Scottsdale, AZ 85255
$1,350,000
3
Beds
2.5
Baths
2,704
SqFt
Status
Active
MLS #
6771509
Property Type
Single Family Residence
Price Type
--
Welcome to your serene retreat in the exclusive, guard-gated Talon Retreat community of Grayhawk! This stunning single-story TW Lewis home features 3 spacious bedrooms and 2.5 luxurious baths, designed for comfortable living and entertaining. As you enter, you'll be captivated by the soaring 12-foot ceilings that create an open, airy atmosphere. The thoughtfully designed layout includes a bright and inviting living area, perfect for gatherings with family and friends. Step outside to your private backyard oasis, complete with a sparkling pool and a secluded patio. This tranquil space is ideal for relaxation or enjoying quiet moments amidst beautiful landscaping. Don't miss the opportunity to experience the best of Scottsdale living in this exquisite home.
4645 N 65th Street
Scottsdale, AZ 85251
$1,350,000
2
Beds
2
Baths
1,894
SqFt
Status
Active
MLS #
6775663
Property Type
Townhouse
Price Type
--
EXCLUSIVE LOCATION: 2 BR, 2 Bath, 2-Car Garage Villa on the 5th tee of the Phoenician Golf Course. Best Golf course/pond/nature views in community with large patio. Features: 24'' Travertine Stone throughout, transitioning to a spacious back patio; Natural Light-Filled Spaces from numerous clerestory windows and skylights; Vaulted Wood Beam Ceilings; Circular Dining Room with vaulted wood beamed ceiling and bay windows; Split Bedroom Plan for complete privacy; Large Primary Suite with patio access. Walk or ride to nearby Scottsdale Fashion Square, Old Town Scottsdale, and Scottsdale Waterfront, and enjoy all the amenities Scottsdale is known for. Plus, a short 15-minute drive to Sky Harbor Airport. Ideal as a year-round retreat or a lock-and-leave second home. Tucked near the base of Camelback Mountain, Phoenician East is a private residential community of luxury villas located across the street from the amenities of The Phoenician® Resort and near the boutiques, restaurants, and galleries of Old Town Scottsdale and Scottsdale Fashion Square. This luxury lifestyle is perfect for full time or part time residents.
3759 S Dew Drop Lane
Gilbert, AZ 85297
$1,350,000
6
Beds
4
Baths
4,068
SqFt
Status
Active
MLS #
6773996
Property Type
Single Family Residence
Price Type
--
Welcome to this SPLENDID dream home. A rare, fully updated home with beautiful BASEMENT in the well-established Power Ranch Community. Corner lot, greenbelt. Brimming with opulent details, this home has all the contemporary and esthetically pleasing features, such as all NEW kitchen with lavish natural marble countertops, new cabinets, farm sink, appliances, custom designed range hood, double oven and microwave drawer. All bathrooms are NEW. Quiet luxury primary ensuite and main floor powder/guest bath. NEW floorings throughout. NEW AC system. This home has a complete BASEMENT that welcomes you to your very own speak-easy bar. Tons of room for entertaining. Second laundry and a scullery in the basement for your ultimate comfort living. One of a kind, carefully designed, carefully curated.