How to buy a home without busting your budget

All the decisions and expenses that go with buying a new home could be overwhelming. A house is a massive purchase and you only want the best value for your money. Affordable housing manager Martin LaMar shares some easy tips on buying your first home without going completely broke or in debt.

Combine and add up your monthly income. If you are buying a home with your partner or spouse, make a budget based on your accumulated income. Take the time to add every source of income you receive each month. Once you have figured out total monthly income, you will be able to draft a budget plan based on the timeframe you have set for buying a house.

Compute your living expenses. Martin LaMar reminds that purchasing a house means spending money on utilities and maintenance each month. These items include gas, water, infotainment bills (cable and internet), electricity, garbage pick up, parking, homeowners association fees, insurance, and so on. Find out your average total each month and work hard not to go overboard.

Keep track of where your money goes. Taking down notes on where your money goes each month will help you understand your spending habits. It will help you determine which expenses you need to cut down.

Martin LaMar has over a decade of broad-based experience in the operations and management of affordable housing, which includes a clear comprehension of affordable and public housing programs. For more articles on affordable housing and budget management, visit this page.

Evergreen real estate tips to remember

Everyone who has been in the process of buying or selling a house knows that a lot of time, effort, and people skills are needed for sale to push through. This is the reason why having proven real estate tips up your sleeve is important, as it will make the sale, easier, faster, and stress-free. Here are some examples.

Stay on top of current housing and real estate trends. Whether you’re buying or selling, it is important to know fluctuating real estate values based on market dynamics and economic shifts. Use different resources so you will be comfortable in accepting or offering a price.


Buy whenever you can. One rule of real estate is that there’s never a wrong time to buy, only a wrong time to sell. Anything you buy will increase its value after a year or whenever a good time arrives. Hold the property until there’s an excellent opportunity to sell.

If you’re selling, keep your house in its best condition. Small maintenance jobs such as keeping your garden lovely, or making sure that the fence is painted go a long way. Know the selling point of your house and highlight it to potential buyers. You don’t have to always think that putting your house up on the market could be a stressful ordeal. If you think it’s too much work, it won't hurt to seek the help of a real estate agent or housing expert.


Martin LaMar is a specialist in the area of operations and management of affordable and public housing. His work places emphasis on real estate, property management, community development, asset management, new market tax credits, sustainability, and human capital among many others. For more similar reads, click here.