Buying and Selling a Home in Birmingham Alabama: A Question of Affordability

Buying and Selling a Home in Birmingham Alabama: A Question of Affordability.

Buying and Selling a Home in Birmingham Alabama: A Question of Affordability

PriceTwo of the most often asked questions by consumers are:

1.Is now a good time to buy a home and
2.Is now a good time to sell a home
Both are excellent questions and both hinge on the same answer which is a question in itself:

Can you afford it? Can you afford to sell? Can you afford to buy?

The answer to the buyer question may be a bit more obvious. Of course you’ll need to be able to afford the monthly mortgage. But what about the cost leading up to obtaining the mortgage? Do you have a down-payment (at least the 3.5% required if financing FHA).

Do you have money for the home inspection? I don’t want to even think about you buying a home and not having it inspected.

Your lender will need to know is the home worth the money you are attempting to borrow. Do you have money for the appraisal? If you don’t, unless you’re paying cash, there will be no home purchase.

So let’s say all of that is a go and yes you have all of that “pre-purchase money” and have managed to go to closing and the deed has been transferred.

You’ve got the mortgage covered, but do you have money to furnish it? Do you have money to update the home just the way you’ve dreamed about? We haven’t even talked about routine maintenance yet: interior and exterior upkeep, regular maintenance such as HVAC service contracts, interior and exterior painting. What if you need a new roof in a few years? Are you already planning for it?

Buying a home is about more than just being able to pay the mortgage. It’s a responsibiity to maintain the value of your home through regular maintenance, upkeep and updating. If the day ever comes when you need or want to sell your home, there will be buyers just like you once were, who are looking for a home that has been well maintained. Every detailed will be scrutinized by that familiar buyer’s eye.

Charita Cadenhead is a licensed Realtor® in the State of Alabama since 2006, serving the Metro Birmingham market.  In 2007, she founded Bham WIiRE (Birmingham Women Investing in Real Estate). Bham WIiRE consisted of women interested in real estate investing, but later the focus expanded to include all women interested in any aspect of the world of real estate.  She is co-author of the book “Sell Your House Fast for the Right Price”, and has been featured on  She is an avid blogger on with nearly 1300 posts to date,  including a great number of featured posts.

Whether you’re looking to buy real estate your sell your existing property, call or send me and email today, so we can discuss how I can best serve your Birmingham-Hoover Metro area real estate needs!

Exceptional Service Because You Deserve It!

Charita H. Cadenhead
Birmingham Alabama Realtor®
(205) 527-1112 – Direct
(800) 496-7431 – Fax

Comments or questions are welcome.

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