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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29906 N Miradar Court
Scottsdale, AZ 85262
$3,000,000
4
Beds
5
Baths
5,684
SqFt
Status
Active
MLS #
6651364
Property Type
Single Family Residence
Price Type
--
Spectacular luxury living in this meticulously designed Spanish Ranch home, nestled in Granite Mountain Ranch, North Scottsdale's only gated equestrian estates. Gorgeous Four Peaks mountain view estate is on almost 5 acres (2 lots) located at the end of a large cul-de-sac. Sale includes two parcels totaling 4.803 acres - parcels 219-40-083 and 219-40-082.The property's circular driveway and stone gate house create a grand entrance with a fountain and gas fireplace that welcomes guests with a sense of luxury and prestige. An architectural masterpiece, this four-bedroom custom home with attached casita was originally crafted for the architect himself, and exudes sophistication and attention to detail at every turn. The interior is captivating with elegance and warmth, and has four distinct shapes of large tumbled travertine, laid in a Versailles pattern throughout main living areas and extending gracefully to the outdoors. Pillars and niches adorned with ambient lighting create a timeless look. Main living area has amazing views to the outdoors with a massive cantera stone gas fireplace. The kitchen is a chef's delight, equipped with a warming drawer, appliance garage, a new ASKO dishwasher and a huge center island with granite slab countertops. The Wolf built-in cooktop and oven are propane gas and the range hood is accentuated with faux painting. The SubZero double refrigerator and two dishwashers ensure efficiency. The separate bar seats five and is granite-topped with ice maker and wine chiller. This residence is a showcase of thoughtful features, including a central vacuum system, four AC zones, an AV closet and a beautiful powder room. The den, complete with wood-beamed ceilings offers versatility with its closet, potentially transforming it into a bedroom. A four-car garage with epoxy floors and a spacious in-garage storage room. The utility closets house a water softener, 4 HVAC air handlers, and two hot water heaters. The primary suite on the same side as the den invites tranquility, with wood flooring, knotty alder cabinets and doors, and a gas fireplace. The primary bath is a spa-like retreat, featuring a coffee bar with built-in SubZero refrigerator, jetted soaking tub, separate closets with custom built-ins, and an indulgent six-shower head experience. Enjoy the breathtaking view of Four Peaks from the primary bathroom, complemented by a travertine outdoor shower. Your visitors will love the guest amenities, with two spacious guest suites on the opposite side of home with private baths and large walk-in closets. A 400 sq ft casita with a kitchenette, SubZero fridge, walk-in closet, and full bathroom provides your guests a private retreat. Technology seamlessly integrates with luxury in this property, with Control 4 system, managing 4 outdoor security cameras, music with in-ceiling speakers throughout the house and back patio, weather, and six mounted TVs which convey to the buyer. A formal dining room with a bricked ceiling and double doors opening to the front courtyard sets the stage for intimate gatherings around the gas fireplace and courtyard fountain. The outdoor space is an entertainer's dream. The backyard oasis offers unobstructed Four Peaks and Matzatzal mountain views, with a Jacuzzi and pool that can be controlled from inside the home. Owned solar system heats the pool for extended enjoyment in the fall and spring. A built-in grill and bar, wood-burning fireplace and firepit complete the entertainment amenities. Granite Mountain Ranch is the only gated equestrian community in Scottsdale where each homeowner can have up to 4 horses per lot. It has 100 home sites spread across 315 acres, 15 acres of equestrian facilities including 2 large arenas and 2 round pens, paved and lighted streets, underground utilities and a private water resource. It's adjacent to the McDowell Sonoran Preserve. You'll have easy access to unlimited riding trails, hiking, biking & fishing. Within a 10-to-30 minute drive are many of Arizona's top golf courses.
10670 E Hedgehog Place
Scottsdale, AZ 85262
$3,000,000
5
Beds
6
Baths
4,665
SqFt
Status
Active
MLS #
6675444
Property Type
Single Family Residence
Price Type
--
Welcome to this enchanting Spanish-style home nestled amidst boulder outcroppings with breathtaking views of the McDowells, Pinnacle Peak and Crescent Moon. Located in the gated community of Pinnacle Canyon, this custom home was built by RS Homes with a focus on blending elegant architecture and natural beauty. Inside you will discover a warm and inviting interior adorned with classic accents including wood vegas & fireplace mantels, chocolate Saltillo & travertine tile, wood flooring and divided light windows. The inviting kitchen, with colorful tile countertops and backsplashes and convenient dumb waiter, adjoins a breakfast room with sunrise views. The primary suite, with cozy fireplace and private patio access, includes a bonus room perfect for nursery, exercise room, etc. Outside, the enchanting backyard oasis awaits with elevated covered patio and dining area, pool, spa, outdoor kitchen and pool bath. With extreme attention to detail, this is an opportunity to own a jewel box in the desert.
8130 E Vista Bonita Drive
Scottsdale, AZ 85255
$3,000,000
4
Beds
3.5
Baths
3,800
SqFt
Status
Active
MLS #
6516110
Property Type
Single Family Residence
Price Type
--
RENOVATION COMPLETED 11.8.24 This stunning contemporary modern luxurious home RENOVATION IS COMPLETED. Walking in your greeted with a sprawling open floor plan featuring exquisite luxury finishes throughout. This home showcases a spacious lot (almost an acre) with breathtaking mountains views overlooking the golf course. Brand new Pickel Ball court is perfect for entertaining. This home is located in the gated PINNACLE PEAK ESTATES. *Seller agent has ownership in property
Prescott
AZ 86305
$2,999,999
3
Beds
3
Baths
3,586
SqFt
Status
Active
MLS #
6609583
Property Type
Single Family Residence
Price Type
--
Less than 25 miles from downtown Prescott, AZ awaits a truly special equestrian treasure - Happy's Dream Ranch. Designed for the pleasure of humans and horses alike, this beautiful property set in Long Meadow Ranch features a warm yet elegant modern 3586 sqft. farmhouse with a 1-car attached, and 2-car detached garage. Beyond the home, the property includes a hay barn w/ bunkhouse, a tiny home, and two airy barns with tack rooms and a total of 20 stalls. Perimeter fenced and cross fenced, there is ample room to train, ride, and run on the magnificent 36.46 acre property - including in a 120' x 240' arena, and an electric Eurociser. With a backdrop of majestic Granite Mountain and stunning 360 degree sweeping views, Happy's Dream Ranch provides the quintessential Arizona ranch lifestyle!
2659 E Maplewood Street
Gilbert, AZ 85297
$2,999,999
5
Beds
3.5
Baths
4,031
SqFt
Status
Active
MLS #
6717424
Property Type
Single Family Residence
Price Type
--
PERSONALIZE YOUR DREAM HOME & CHOOSE YOUR FINISHES! Gilbert's Landmark at Somerset, spanning 4,031 sq ft - nestled by the park on .54 acres with a 4-car garage & storage room. A large courtyard welcomes you, while inside, 5 bedrooms, including a luxurious primary suite & a full guest retreat & playroom, await. The heart is the open kitchen, great room, & nook area, perfect for gatherings. Retreat to the primary bedroom oasis with a spa-like ensuite, large walk-in closet & large walk-in shower with benches on both sides & a separate soaking. A large, covered patio & a N/S lot orientation. Don't miss out on this opportunity to own a custom-built masterpiece in Gilbert's Somerset. Skip the lengthy design & construction process! ESTIMATED COMPLETION QUARTER ONE 2025!
17412 E Bobwhite Way
Rio Verde, AZ 85263
$2,999,999
3
Beds
3.5
Baths
4,227
SqFt
Status
Active
MLS #
6766185
Property Type
Single Family Residence
Price Type
--
Nestled within the well-sought-after guarded gate community of Trilogy at Verde River, this luxury residence epitomizes refined living with its prime location overlooking the 4th Green and breathtaking mountain vistas. Situated on an expansive 24,500+ sqft lot, no detail was spared in the design of this exquisite home. The grand entry foyer is a showstopper, featuring dramatic high ceilings and elegantly surrounded by sleek tile walls, creating a stunning first impression. As you enter the great room, you'll be captivated by the refined upgrades, including dropped beamed ceilings, floor-to-ceiling fireplace, and clean, neutral tones that enhance the spacious interior. Natural light floods the room through skylights and a center-open multi-panel sliding glass door, seamlessly connecting to the resort-style backyard. The gourmet kitchen features an island with designer pendant lighting, complemented by high-end stainless-steel appliances and stacked cabinetry. The strategically placed butler pantry bridges the kitchen and dining room and is complete with 2 wine refrigerators. The entertainment room is spacious and fitted with a sink, beverage refrigerator, built-in cabinetry, and a sliding door that opens up to the covered patio! The primary suite exudes luxury with built-in cabinets, custom shutters, and an ensuite bathroom featuring a soaking tub, dual-entry tiled shower, bidet toilet, and his-and-her custom walk-in closets by Classy Closets. The private casita has an entrance from the front courtyard and offers a living room, bedroom, and ensuite. This luxurious backyard is an entertainer's dream, featuring an oversized pool with mesmerizing fountains that change colors, creating a private water show against the backdrop of stunning mountain views. The elevated spa adds a touch of relaxation, while the custom pergola offers a high-top counter, a TV, and an EVO grill, BBQ, and cooktop. Whether hosting or unwinding, this space blends beauty and functionality for unforgettable outdoor living. This home offers a blend of elegance and comfort, perfect for those seeking the pinnacle of desert living in Trilogy at Verde River. The amenities at Trilogy at Verde River are World Class with Tom Lehman-inspired eighteen-hole golf course, tennis courts, pickleball courts, and bocce ball, heated lap pool and resort-style swimming pool, hot tub, Afterburn fitness center, Helen's demonstration Kitchen for cooking classes and a 7.5 acre dog park. The community center has casual poolside dining at Eddy's Diner and gourmet dining at award-winning Needle Rock Kitchen and Tap, Alvea Spa with full-service Salon and Spa amenities, Art Loft and events center. Trilogy at Verde River is adjacent to the Tonto National Forest and is situated in the middle of miles and miles of hiking and biking trails.
7702 N Moonlight Lane
Paradise Valley, AZ 85253
$2,999,999
5
Beds
6.5
Baths
6,214
SqFt
Status
Active
MLS #
6745821
Property Type
Single Family Residence
Price Type
--
THE MOST STUNNING VIEWS IN PARADISE VALLEY! Seize the extraordinary and rare chance to own a prime 1.2-acre hillside lot offering sweeping, awe-inspiring views of Camelback Mountain, Mummy Mountain, the McDowell Mountains, Pinnacle Peak, and the shimmering city lights below. This hilltop sanctuary is nestled in the prestigious Tatum Canyon enclave in the heart of Paradise Valley. Privately gated and situated at the end of a tranquil cul-de-sac, the property currently features a livable soft contemporary-style home. Its prime location is just moments from the Paradise Valley Golf and Country Club, the new Ritz Carlton Resort, Camelback Inn & Spa, and a variety of upscale shopping and dining options. Remodel the existing 6,200 SqFt home or create the estate of your dreams— no HOA restrictions.
3500 E Lincoln Drive Unit 22
Phoenix, AZ 85018
$2,999,999
5
Beds
4.5
Baths
4,241
SqFt
Status
Active
MLS #
6729102
Property Type
Single Family Residence
Price Type
--
Welcome to your GUARD GATED serene retreat on over half an acre along the mountainside of Lincoln Hills with city views of the valley! Enter into the open concept floorplan with newer ACs, roof w/ 5 year warranty, water purification system, updated flooring, solid core doors, and updated ceiling fans and light fixtures throughout. Remodeled chef's kitchen with top of the line Sub-Zero fridge, 4 burner gas cooktop plus griddle, all new cabinets/ pull outs, RO system, prep sink, and wine fridge. Luxury primary suite with extended balcony overlooking the mountain and city views. Flex game room designed for indoor/outdoor style living with glass garage doors. Private backyard oasis with multiple private patios, pool, outdoor kitchen with gas BBQ, dishwasher, and fridge. Come take a look today
2402 E Esplanade Lane Unit 902
Phoenix, AZ 85016
$2,999,999
2
Beds
3
Baths
3,542
SqFt
Status
Active
MLS #
6738813
Property Type
Apartment
Price Type
--
Nestled in the heart of the prestigious Biltmore area of Phoenix, this luxurious ninth-floor condominium residence offers over 3,500 square feet of contemporary elegance. The expansive floor plan features impressive entertaining spaces with breathtaking views to the downtown Phoenix skyline and beyond. Floor to ceiling windows plus two oversized balconies highlight these vistas and provide ideal natural light. As expected, top-of-the-line finishes and modern design elements abound, from beautiful light real oak wood floors to Wolf, Subzero and Miele appliances. Twp private and separated en suite bedrooms plus a dedicated office/study and powder room complete this perfect home. Esplanade Place offers true luxury lock and leave living along with the highest standards for residence security, including on-site guard, controlled garage and floor access, on-site valet, full exercise gym and steam rooms, large club room for entertaining with catering kitchen, roof-top pool, gas grills for residents plus a dedicated dog run area. Condominium residences of this size and level of finish are difficult to find in the greater Phoenix/Scottsdale market. This offering is truly a gem!
30505 N Sage Drive
Peoria, AZ 85383
$2,999,995
3
Beds
3.5
Baths
4,483
SqFt
Status
Active
MLS #
6777345
Property Type
Single Family Residence
Price Type
--
This stunning contemporary home situated in Blackstone Country Club boasts elegance and sophistication. All furnishings included! With exquisite modern finishes throughout, this brand new home offers breathtaking golf course and mountain views from the 12th Fairway. The 50-foot long heated PebbleTec pool is perfect for relaxation, exercise and entertaining. The kitchen is a chef's dream with glossy acrylic high-end cabinetry, gorgeous quartz countertops, and top-of-the-line Thermador and Sub-Zero appliances, 2 dishwashers and includes a hidden butler pantry with ample wine refrigerator. The attention to detail in this home is impeccable, featuring expansive windows that seamlessly integrate with the outdoor landscaping. Wait until you see this gem! Other notable features include a custom sculpture at the entryway, 14-foot ceilings, luxury automatic window treatments, a library with built-in bookcases, and a separate TV viewing room. Three large bedrooms all include baths and exits to the pool area. This home was built with no steps and includes air-conditioned garage space. Blackstone is a guard-gated community with a private Country Club which has an optional membership.
2150 E Belmont Avenue
Phoenix, AZ 85020
$2,999,995
3
Beds
3.5
Baths
4,716
SqFt
Status
Active
MLS #
6643007
Property Type
Single Family Residence
Price Type
--
Biltmore Highlands, located on a hillside bordering the Phoenix Mountain Preserve Piestewa Peak. This residence combines nature's tranquility with urban convenience, offering breathtaking & unobstructed mountain, and city views! Minimalist-style kitchen with ample storage, and a complete butler pantry. The primary bedroom has a sizable walk-in closet w/built-ins and a lavish ensuite with dual sinks & soaking tub. The upstairs laundry room is complete with sink & cabinetry. Discover the entertainer's backyard, where an elevated negative edge pool awaits for refreshing swims, or chill and take in the mountain views. The rooftop party deck is an excellent spot to savor those amazing sunsets complete with an outdoor kitchen. You have a private gate to access the Phoenix Mountain Preserve! The scrim that covers the front and east side of the home creates a solar passage, increasing efficiency, privacy, and once it rust it will allow the home to blend with its desert surroundings. A huge covered patio in front of the home allows you to enjoy indoor-outdoor living when opening your matching 4-panel pocket doors and 8 pivot doors, doubling your space for entertaining. World-class hiking right out your back gate! Just Minutes from Old Town Scottsdale, Sky Harbor Airport, and downtown Phoenix. Located near the 51 freeway, without the noise, that gets you to the 10 or the 101 freeways in minutes.
7180 E Kierland Boulevard Unit 1218
Scottsdale, AZ 85254
$2,999,990
2
Beds
2.5
Baths
1,838
SqFt
Status
Active
MLS #
6765853
Property Type
Apartment
Price Type
--
Discover the height of luxury living in this breathtaking contemporary penthouse 2-bedrooms, 2.5 baths with floor to ceiling windows throughout with open concept living room and dining room area for entertaining and be blown away by the stunning city views of Kierland, Paradise Valley, and Camelback Mtns. Entertain with a view in the contemporary gourmet kitchen. Designed to impress guests with a large island, custom cabinetry, gas stove, Bosh appliances, and wine fridge which leads into an elegant dining room with stunning views of the city and mountains. The spacious primary bedroom suite with breathtaking sunset views Unit includes 2 reserved underground parking spaces. Enjoy the buildings state of the art design and amenities, which include; a resort style rooftop pool, large sitting area with firepits, saunas, steam rooms, several BBQs, full size kitchen, party room, full size gym, yoga room, full racket court, game room, full size basketball court, pickleball court, golf simulator, business office, and dog park. Enjoy the convenience of being minutes away from the retail shopping at Scottsdale Quarter and Kierland