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Control Finances When Looking To Buy A North Texas Home

buy a north texas home

Lots of couples and families dream of purchasing that “perfect” home in Flower Mound or other upscale communities in the Dallas area, yet their budgets are just “on the edge” when it comes to deciding if they really have the financial resources to make the move. Even when your boss is on the fence about a raise or refuses one, there are several things you can do yourself to increase cash flow and make your financial situation less stressful. Our real estate professionals have a few tips to help you generate cash flow when you’re looking to buy a North Texas home.

What you already know – slash costs that aren’t essential. Many people pay hundreds of dollars every year for subscriptions or services they don’t need or use, especially online. For instance, are you really watching all those extra channels on satellite that are costing you an extra $30 bucks a month? How much do you (or your spouse, or both) spend on Starbucks on a weekly basis? All of the little things can add up to a substantial amount of money. Track your spending for a couple of months, writing down every penny. You may be surprised how easy it is to cut costs that are unnecessary, or even those you’ve forgotten about if you’re self employed.

Make a budget, and stick to it. Making a budget doesn’t get you very far if you don’t stick to it. When you don’t develop a budget, it’s easy to lose track of how much you and your family spend on groceries, gas, internet, cable, health & home insurance, clothes, even lunch every day if you work and eat out often. When you write out a budget you’ll likely find there are some things you can negotiate on, and others you can completely eliminate. Does it really need to be 68 degrees in your home during summer months? How much “stuff” are you buying at the grocery store that wasn’t on your list? How much are you spending on overages on data usage? You get the picture.

Are those necessary expenses really non-negotiable? Probably not. In fact, everything is negotiable if you think about it. If you’re currently renting, chances are your landlord would take $20 or $30 per month off the monthly rent if you give a legitimate reason. Make a complete list of the expenses you have every month, including those for insurance, utilities, and rent. It’s worth your time and effort to call every company you spend your hard-earned money with to ask about potential discounts, service options, or about any tips they have for lowering monthly costs. Unless you ask, you definitely won’t know if there’s room for negotiation.

Could you forego that tax refund? Many people look forward to those refund checks from the IRS, but don’t realize the only reason they’re receiving a refund is because they overpaid taxes. Adjust the tax withholding, and use the extra money you receive in your paycheck to build a savings account or invest. Why give the government your money that’s essentially an interest-free loan? Put your money to work for YOU.

These are a few of the dozens of things you can do to take control of your own financial situation. If you’re dreaming of buying a Flower Mound home, it could be that it’s within your reach but you don’t even realize it! For more tips and advice, contact the Dallas realtors at Team Nelson today.

What People Are Saying

  • Great experience selling our home and buying a new home. Love Casey and Kelly!!!!Best part of it was that they sold our home for FREE!Highly recommend selling and buying a home with YOUR HOME FREE!

    Mark Mathews Avatar
    Mark Mathews
    11/11/2019

    We worked with Team Nelson on our last 2 moves. They really know the market and their insight and guidance has proven to be very valuable as we get ready to transition down in size. And, the savings we realized on the sale side(s) has helped put 2 kids through college. Thanks guys!

    Stephanie Denoyer Avatar
    Stephanie Denoyer
    12/11/2018

    The Nelson Team made our most recent move a pleasure by securing a full asking price offer on the home we were selling within a few days, helping us preview a number of potential new residences in a short time period, connecting us with a lender who moved at an incredible rate of speed, and effectively negotiating with the seller to deliver an excellent value on the home we purchased.

    Greg Smith Avatar
    Greg Smith
    12/11/2018
  • Great team. Sold our home in under a week. Excellent customer service and communication. Highly recommended.

    Rebecca Conner Avatar
    Rebecca Conner
    12/11/2018

    This may be a good firm overall but my experience with Tyna Haygood specifically was one I regret. What she does not tell you is that once your home you are selling is under contract, she will not help you whatsoever with the purchase of your new home. She will not answer her phone and you will be left to negotiate on your own. Very unethical practices by this realtor.

    K Higg Avatar
    K Higg
    6/11/2019

    We were extremely pleased with Team Nelson! They were engaged and professional, and their communication was top notch throughout the entire selling and buying process. Through their efforts, we were able to sell and buy our houses quickly! I would highly recommend them. Thank you Team Nelson!

    zuser20180721070356734 Avatar
    zuser20180721070356734
    10/19/2018
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