A 20% down payment is a significant chunk of change. But with enough time to prepare and a little bit of creative budgeting, you’ll be able to save up for your new home sooner than you think. Follow these helpful budgeting tips to get started!
Break Down Your Budget
While it’s never a bad idea to start saving for a down payment, it’s an even better idea to analyze your budget before you consider a home purchase. This will help you set realistic expectations and concrete goals.
First, make a list of all of your necessary monthly expenditures — rent, power, water, phone service, student loans, etc. Add these expenditures up and subtract them from your monthly take-home pay. Then, look at everything that is left over and consider what to cut back.
After you’ve taken a look at your spending, determine what home price range (and, consequently, a 20% down payment) you could comfortably afford based on your current monthly budget. Our handy mortgage payment calculator might help! Continue reading
More New Listings and Sales in November
Market Update for November 2017
Both new listings and sales for Ann Arbor homes were up for the month of November. New listings entered were up 30% compared with last November, 73 vs. 56, with the average list price coming in at $500,023 vs. $443,054. The number of sales was up 12.5%, 90 vs. 80, with the average days on the market at 38, down from 48. The average sale price was $405,669 compared with $409,972 this time last year. However, when looking at the year-to-date statistics, both listings and sales are down. There were 1383 new listings entered so far this year, compared with 1473 last year, and 1057 sales compared with 1116 last year. It is a very strong seller’s market with a 2.7 month supply of homes for sale overall. The $600k – $700k and $800k – $1 million price points are balanced with only the over $1 million in a buyer’s market with a large inventory.
If the Ann Arbor real estate market stays as busy in December, we may see the gaps narrow, but the year will most likely end with less sales and listings than in 2016. Be sure to check back for the December market update after the new year. Here at The Bouma Group, Realtors we already have a lot of great listings ready to hit the market in late winter and early spring. Be the first to know, contact us today for a sneak preview to see if any are the right match for you! 734-761-3060 or email@example.com
4521 Links Ct., Ann Arbor, MI
Just Listed! This gorgeous 2 story contemporary home at 4521 Links Ct. has everything you have been looking for, including:
- 2,171 sq ft with 3 bedrooms and 2 and a half bathrooms.
- The large 2-story foyer leads you right into the vaulted living room with gas fireplace on one side and the formal dining room with nice moldings on the other.
- The large eat-in kitchen has lots of room for the family to gather and be together, opens to the living room.
- The expansive master suite has hardwood floors, vaulted ceilings, and a large spa-like bathroom as well as it’s own private study or flex room.
- The nicely landscaped backyard has a nice brick paver patio with lots of room for entertaining.
- More photos and features
- Virtual Tour
- MLS # 3253121
- Listed for $489,900
Schedule your private showing for 4521 Links Ct., today by contacting The Bouma Group, Realtors at 734-761-3060 or email firstname.lastname@example.org
View photos and amenities for Links at Stonebridge.
1916 Wayne St., Ann Arbor, MI
Just Listed! Charming 1920’s farm house style home on a corner lot with a large wrap around porch. The home at 1916 Wayne St. offers:
- 1,791 sq ft with 4 bedrooms and 1 full bathroom.
- The living room has a nice wood burning fireplace and large new and refurbished double-hung windows.
- The large, formal dining room with chair rail molding and huge windows leads into the kitchen with ample storage.
- Upstairs you will find all 4 bedrooms and the full bathroom.
- The hardwood floors run throughout the entire home.
- More photos & features
- Listed for $574,900
Contact The Bouma Group, Realtors today to schedule your private showing for 1916 Wayne St. 734-761-3060 or email@example.com
3324 Platt Rd., Ann Arbor, MI
New Listing! Investment property with tenants that currently have a lease through February 2018 and would love to remain in the home! The property at 3324 Platt Rd. offers:
- 1,008 sq ft with an additional 500 sq ft finished in lower level. 3 bedrooms and 1 full bathroom.
- Home has been well maintained with the same tenants for the last 7 years.
- The main floor houses all 3 bedrooms, living room, eat-in kitchen, as well as the bathroom.
- Downstairs you will find an additional living space as well as plenty of storage space.
- More photos and features.
- Listed for $169,900.
Contact The Bouma Group, Realtors to schedule your private showing today for 3324 Platt Rd. 734-761-3060 or firstname.lastname@example.org
1066 Scott Pl. #32, Ann Arbor, MI
SOLD! You won’t want to miss out on this rare, 1.5 story end unit condo that has been completely renovated at Oslund condo community! 1066 Scott Pl. boasts:
- 2,205 Sq ft. with 3 bedrooms and 3 full bathrooms.
- The Living room has an electric fireplace leads you into the formal dining room and then into the kitchen.
- There is also a wall of built-in shelving to display your books and other treasures.
- The Kitchen boasts custom cabinetry and quartz counters and stainless appliances.
- The generous, main floor Master has en suite bathroom and ample closet space.
- More Photos and Features
- Virtual Tour
- MLS #3252963
- Listed for $839,900
Contact The Bouma Group, Realtors at 734-761-3060 or email@example.com to schedule your private showing for 1066 Scott Pl. today! View photos, amenities, and market statistics for Oslund here!
1561 W Liberty St., Ann Arbor, MI
New Listing! You won’t want to miss this one! Built in 2014, just moments away from all that downtown Ann Arbor has to offer, this gorgeous home at 1561 W Liberty St. boasts:
- 2,375 sq ft with an additional 470 sq ft finished below grade. 4 bedrooms and 3 and a half bathrooms.
- The open concept first floor offers a living room with a gas fireplace and is surrounded by windows.
- The kitchen has white shaker style cabinets, white subway tiles, gorgeous granite counters and stainless steel appliances.
- Upstairs you will find 3 large bedrooms, including the master with en suite bathroom with dual sinks and huge walk in shower.
- A two tiered deck, as well as a paver patio with built in fire pit, are perfect for fall nights.
- More photos and features.
- Virtual Tour.
- MLS #3252563.
- Listed for $800,000.
Schedule a private showing today for 1561 W Liberty St. today by contacting The Bouma Group, Realtors at 734-761-3060 or firstname.lastname@example.org.Save
3000 Glazier Way #110, Ann Arbor, MI
New Listing! This unit offers everything you could want from an Ann Arbor condo, privacy and luxury, close to the University, hospitals, downtown and the expressways! 3000 Glazier Way #110 offers:
- 2,658 sq ft. with 3 bedrooms and 2 full bathrooms.
- This ranch style condo has a private patio and 2 underground parking spaces.
- The eat-in kitchen boasts newer bamboo flooring, granite counters, island with breakfast bar, stainless steel appliances and a full sized wine fridge.
- The very large, open concept living and dining spaces are an entertainers dream! With a double sided gas fireplace and lots of windows to let in natural light.
- Gigantic master suite with a large bay window, has two walk-in closets, double sinks and separate tub and large steam shower in the en suite bathroom.
- The other two generously sized bedrooms share the other full bathroom.
- More photos and features
- Virtual Tour
- MLS #3252458
- Listed for $759,900
Schedule your private showing for 3000 Glazier Way #110, today! Contact The Bouma Group, Realtors at 734-761-3060 or email@example.com.
View photos and amenities for Oak Ridge Condominiums.
Pheasant Hollow Real Estate Report – August 2017
Pheasant Hollow is a prestigious Ann Arbor neighborhood, each of the 26 homes are custom built to the highest caliber and display meadow, pond or wooded vistas; the downtown is close and many amenities are nearby as well. There are currently 2 homes listed for sale and so far this year, none have sold.
Homes for Sale:
- $989,00. 6410 Heron Ct., Ann Arbor. 3862 sq. ft., + 1746 in the finished lower level, 5 bedrooms and 4.1 baths.
- $690,000. 2011 Hollow Oak Ct., Ann Arbor. 3582 square feet with 4 bedrooms and 3.2 baths.
Last year at Pheasant Hill, 1 home sold with a sale price of $767,500 and a price per square foot of $201.00. The 2 homes for sale have an average list price of $839,500, up 9%, and an average list price per square foot of $224.00, up 11%. To learn more about home values at Pheasant Hollow, contact the real estate specialists with The Bouma Group at (734)761-3060 or email firstname.lastname@example.org. View more Ann Arbor neighborhoods here!
Pines of Lake Forest Real Estate Report – September 2017
Pines of Lake Forest is a luxurious Ann Arbor neighborhood with a beautifully designed natural setting, there are also many golf courses are nearby as well. There are currently 3 homes listed for sale and so far this year, 2 have sold.
Homes for Sale:
- $979,900. 4141 Timber Ridge Dr., Ann Arbor. 4034 sq. ft., + 2000 in finished lower level, 4 bedrooms and 4.1 baths.
- $965,000. 3991 Calgary Ct., Ann Arbor. 4074 sq. ft., + 2252 in finished lower level, 6 bedrooms and 4.1 baths.
- $720,000. 4111 Timber Ridge Dr., Ann Arbor. 4084 sq. ft., + 1436 in finished lower level, 5 bedrooms and 5.1 baths.
- $915,000. 2308 Woodview Ln., Ann Arbor. 4733 sq. ft., + 1700 in finished lower level, 6 bedrooms and 4.1 baths.
- $785,000. 2426 Woodview Ln., Ann Arbor. 3756 square feet with 4 bedrooms and 3.1 baths.
Last year at Pines of Lake Forest, 2 homes sold with an average sale price of $900,000 and an average price per square foot of $154.00. The 2 homes sold this year have an ASP of $850,000, up 6%, and an A$/SF of $201.00, up 31%. To learn more about home values at Pines of Lake Forest, contact the real estate specialists with The Bouma Group at (734)761-3060 or email email@example.com. View more Ann Arbor neighborhoods here!