Homes For Sale In Flower Mound, TX: Can You Afford A Big Home?

Homes For Sale In Flower Mound TXIf you’re looking for homes for sale in Flower Mound, TX, you’ve probably noticed that it’s a seller’s market out there and that homes are selling within hours of hitting the listings.  As a buyer, that means you’ve got to be ready to make an offer on a house you like almost immediately.  The most important way you can be ready with your offer is to get your finances in order and get preapproved for a home loan, but beware, a preapproval can also be the beginning of some serious financial problems.

A bank or mortgage company will approve your home loan for the maximum amount they can based on your credit history, job and other factors; but for many people – and you may be one of those people – concentrating on homes for sale in Flower Mound, TX that cost the maximum amount the lender says they’ll loan can mean that they end up buying a bigger home that they can’t really afford.  Here are some questions you need to ask yourself when it comes to choosing the right size home and mortgage for you:

  1. What are my long-term needs?  You may actually need a bigger home that maxes out your home loan.  If you have young children who will need more space as they get older or you’re planning to start a family, a bigger home may be worth pinching pennies for now. Additionally, if you anticipate getting a promotion or a new job with a larger salary, your new home can easily become more affordable in the near future.
  1. Do I want to clean and maintain a larger home?  Even if you can manage larger mortgage payments, are you prepared to pay for maintenance and upkeep on a larger home?  A big house has a big roof and big appliances – like water heaters and HVAC systems – that cost more to replace.  And with more rooms to clean and a bigger yard to mow, you could end up spending every weekend doing chores rather than enjoying your home.
  1. Will I be able to afford furniture? There are a lot of “$30,000 millionaires” in North Texas who watch TV from the comfort of their folding chairs because they can’t afford to furnish their big homes.  While you may be able to swing your mortgage payment, you may not have enough money left in your budget to furnish all the rooms in your home, much less go out for dinner or see a movie.

Call Sean May Homes to Help You Find Homes for Sale in Flower Mound, TX

Take the time to weigh the pros and cons of owning a larger home with a bigger mortgage payment before you begin your search for homes for sale in Flower Mound, TX.  When you decide what you want, call us at Sean May Homes at 972-955-8581.  We are the realtor who knows Flower Mound, and we know how to help you get the home that’s right for you, no matter what size you want or what your budget is.  To get started, visit us online at www.newflowermoundhomes.com.

Homes For Sale In Flower Mound TX
Flower Mound TX Realtor | Sean May Homes
3360 Long Prairie Rd., Suite #1000
Flower Mound, Texas 75022
972-955-8581

Photo Credit: @DepositPhotos.com/ Maximkostenko

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