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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Leslie Carlotti
Greenwich Fine Properties
80 Mason St
Greenwich, CT 06830
Phone: 203-983-7451
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A client of Leslie Carlotti’s is a client for life. Leslie knows Greenwich intimately and loves the people who define her chosen career. “A client once told me that in his view, what set me apart from other real estate agents was that I listened,” Leslie says. “In my view, my job is to listen to my clients, hearing what is said and not said, and then doing my very best to accommodate their needs and wants in a professional manner.” The joy of Leslie’s work comes with a deep appreciation of the varied personalities and properties that make Greenwich special. From her earlier career as a commercial executive handling property acquisitions to her present-day role shepherding some of Greenwich’s highest-value residential transactions, a sensitive, discreet personality has always set Leslie apart.

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