When you calculate how much you will need to purchase a home you will add up the down payment and closing costs. It is also a good idea to leave yourself with some financial cushion to cover the incidental expenses associated with moving.

First, you will have to pay the moving company unless you can find friends with strong backs who will help you. Then many buyers plan to do some work, such as painting, replacing carpet, or refinishing floors. If you are moving into a larger space, you may find yourself making some major furniture purchases within a few months of closing.

A financial cushion is important enough that some lenders require buyers to have an amount in the bank equivalent to two or three months mortgage payments. This is especially true for buyers who are putting less than ten percent down. Your real estate agent can give you guidance. A lot depends on your overall financial situation. If your mortgage is a relatively low percentage of your monthly income, you will be able to rebuild a comfortable amount of savings in a few months.

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Bernadette Robinson
Keller Williams Real Estate
910 Harvest Drive, Suite 100
Blue Bell, PA 19422
USA
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My goal as a Number 1 Realtor is to establish an enduring relationship with all my customers while assisting them to meet their real estate needs. Since the majority of my business results from either past clients, or referrals from buyers or sellers, it is of the utmost importance to me to have a high reputation of honesty, integrity and expertise between myself and all those with which I conduct business. Couple this with the many years of experience I have in the industry, as well as the business and marketing tools I implement to assist my buyers and sellers, and you will find that real estate transactions can actually be an enjoyable experience! I am a lifelong resident of the Philadelphia Area and personally know how much this city and surrounding suburbs has to offer. I have raised my own family here and am conversant in all aspects of the vicinity, from shopping and the best driving route to work, to great restaurants and historical sites. My first hand knowledge of the area will be invaluable in assisting you with your real estate transactions.

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