I got today’s real estate tip of the day from Ardell at Rain City Guide. In her post Should I Rent or Buy?  (actually it’s in the comment on the post as she is responding to someone) she suggests trying out a mortgage payment amount for 3-6 months before committing to it and actually buying a home requiring that high of a mortgage. Her example is someone who has a $800 rent, but wants to buy a home that would give them a $2000 a month mortgage payment. She tells them to put aside an extra $1200 every month for the next several months to see how it fits into their budget.

The benefits of this strategy are two fold. First, you get to see if a payment that high will fit into your budget and lifestyle. Second, if you decide to purchase a home, the extra that you have been putting aside can be added to your down payment!

For more information on Bellingham Real Estate or to search for homes in the Bellingham and Whatcom County area visit www.JohnsonTeamRealEstate.com, your one stop Bellingham real estate and community information resource!