Once you’ve been pre-approved and know your budget, it’s time to take a look at what’s out there and understand what the market has to offer in your price range. The DiMora Team are real estate experts in the Novi and Northville neighborhoods and we know that timing and location are very important in real estate. Owning our own home is a goal we all have, but being sure you can comfortably afford the home you want, in the neighborhood you love, transforms your house into a home. Being tied to the idea of buying a home, when the house you want is a financial stretch, isn’t a good idea. Don’t count on your lender to advise you of the mortgage payment you can comfortably afford. Ultimately, their revenue depends on maximizing your loan amount, while minimizing their risk. Check out below to see what sold in Royal Crown in November 2018:
22485 Moorgate Street, Novi: 4 bedrooms, 2.2 bathrooms, 2,766 sq. feet, 2 car garage, Sold Price: $440,000
Royal Crown Home Sold
November 2018
45515 Violet Lane, Novi: 4 bedrooms, 2.1 bathrooms, 3,038 sq. feet, 2 car garage, Sold Price: $465,000
Royal Crown Home Sold
November 2018
The smart buyer understands what their upper mortgage limit is and sticks to it. Once you get out there and start looking at properties, it’s easy to convince yourself that you can buy more house than you can comfortably afford. Resist that temptation. Revise your expectations, or defer until you can afford more by saving a little longer and grow your deposit. The market might even move in your favor. For more information on Royal Crown, or similar Northville or Novi neighborhoods such as Maple Hill, Carriage Hill and Northville Commons, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.