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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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Carmela, Jason and Jonathan Kaiser
Fortune Realty of LI
24 Arbor Ridge Lane
South Setauket, NY 11720
Carmela Kaiser : 631-379-1612
Jason Kaiser: 631-764-1422
Jonathan Kaiser: 631-235-2646
Fax: 631-846-1771
CarmelaKaiser@NUMBER1EXPERT.com
jonkaiser@fortunerealtyli.com

I’m Carmela Kaiser, Broker/Owner of Fortune Realty of L.I. I bring over twenty-five years experience in real estate including numerous awards and an impressive record as a top producer. I achieved this by following what I believe is basis of real estate sales: putting the needs of my clients first and foremost. As a result, about 85 - 90% of my business now comes from personal referrals and repeat business achieved by giving outstanding customer service, both during and after the transaction, and by always making my clients’ best interest my top priority. This is the foundation on which Fortune Realty of LI was founded. I work with a talented family team of agents, available to our clients seven days a week. With three full time employees, we address every aspect of your real estate transaction with three times the manpower and attention. With a combined thirty-five years experience in real estate and over 800 homes marketed and sold, our clients’ best interest is our top priority!