Discover Your Dream Home
John & Anja Buetergerds
- Ph/Text: 941.894.4063
The Buetergerds Team
Selling Suncoast Homes!
We're here to serve your needs when you are ready to buy a home
or sell a home on the Suncoast in Sarasota, Bradenton,
Lakewood Ranch or Venice. We are your positive, professional
real estate team.
John and Anja Buetergerds, The Buetergerds Team
Sarasota County Real Estate & Manatee County Real Estate
- Trusted resource for answers about the process
- Innovative marketing strategies
- Expertise about neighborhood features
- Ability to target home searches
- Strong negotiation skills
- Support through the closing and beyond
What Our Customers Say When They Buy or Sell a Home with The Buetergerds Team!
Alan S. and Valerie M. Just bought their new home!!! Watch their video testimonial.
Your lender decides what you can borrow but you decide what you can afford.
Lenders are careful, but they make qualification decisions based on averages and formulas. They won’t understand the nuances of your lifestyle and spending patterns quite as well as you do. So, leave a little room for the unexpected – for all the new opportunities your home will give you to spend money, from furnishings, to landscaping, to repairs.
Historically, banks use a ratio called 28/36 to decide how much borrowers could borrow. An approved housing payment couldn’t be more than 28 percent of the buyer’s gross monthly income, and his or her total debt load, including car payments, student loans, and credit card payments, couldn’t be more than 36 percent. (In Canada lenders apply similar formulas to determine how much a buyer can afford. The Gross Debt Service ratio, or GDS, is not to exceed 32 percent of the buyer’s gross monthly income, and the Total Debt Service ratio, or TDS, is not to exceed 40 percent of the buyer’s total debt load.) As home prices have risen, some lenders have responded by stretching these ratios to as high as 50 percent. No matter how expensive your market though, we urge you to think carefully before stretching your budget quite so much.
Deciding how much you can afford should involve some careful attention to how your financial profile will change in the upcoming years. In the long run, your own peace of mind and security will matter most.
Here are some points to consider:
Value vs. Cost. Pricing your home to sell in a timely fashion requires some objectivity. It's important that you not confuse value with cost - in other words, how much you value your home versus what buyers are willing to pay for it. Don't place too much emphasis on home improvements when calculating your price, because buyers may not share your taste. For instance, not everyone wants hardwood floors or granite countertops.
Keep it simple. Because time is of the essence, make it easy for the buyers. Remain flexible on when your Realtor can schedule showings. Also, avoid putting contingencies on the sale. Though a desirable move-in date makes for a smoother transition between homes, it could cause you to lose the sale altogether.
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