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While looking to buy a home, you must consider the needs of everyone in the household, pets included. Otherwise, the space could fail to work for your family, leaving everyone less than comfortable in their new digs. Thankfully, with a little forethought as you browse, you can zero in on a place that will work perfectly. Just think about the following things to put your pet first while buying a home.

Earmark a Space That’s All Their Own

Your pets will need room for their bedding, dishes and toys to be truly comfortable in their new living space. So, as you check out each corner of the floor plan, think ahead to where you might put those items.

If you cannot figure out an ideal space, then the home in question likely won’t work without a major overhaul. Often, it’s a lot more frustrating trying to make an incompatible space work than continuing with the search for a home that meets all your needs.

Think About Their Elimination Needs

Barring an exceptionally well-trained cat, pets usually cannot use the toilet. To best accommodate their elimination needs, think about where to set the litter box or if the yard will work for their potty times.

Consider all the other household members as well and how you will keep them separate if needed. You don’t want dogs digging in the cat box, after all, or kids running through a potentially messy backyard.

Look for Room to Run and Play

Even if you plan to walk your pets on the regular, they need a space to run and play from time to time. If a home with a yard is in your budget, then that will work well, as long as it’s fully fenced in.

But if that’s outside your price range, you can get just as much use out of a nearby dog park. If all else fails, look for homes near public parks, hiking trails and beaches where you can let your pets frolic on a long line.

Scope Out the Safety of the Neighborhood

Although you undoubtedly keep a close eye on your pet, accidents can happen, leaving them roaming the neighborhood on occasion. For that reason, it’s important to consider major roadways and other hazards near your home. Not all hazards are avoidable, but aim to minimize the risks if you can.

You can also put in extra safety measures, like invisible fences, that help keep your pet from flying solo. Also, consider getting them microchipped and updating their license with the city, so they can be returned home if they ever get lost.

By keeping all these things in mind during the homebuying process, you can find a home that will work for you and your pets. Just remember to let your real estate agent know your preferences, so they understand what to look for as well. Your agent will help you narrow down the options and quickly jump on properties that match your specifications, helping you find a great home faster than ever.

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You know when you buy a home that your credit score matters, but do you see all of the numbers that matter to your financial picture when you’re buying a home? Your debt-to-income ratio is one of the most critical figures that will influence if you can get a mortgage and what type of rate you can get. 

What Is A Debt-To-Income Ratio?

This number is exactly what it states: the ratio of debt divided by your gross monthly income. Your credit report doesn't include any of this income information. This number is actually the best way to see if you’re living within your means or not. This way, your lender will know your monthly debt payments along with your monthly income.  

If your ratio of debt is high, you may not get a loan or get less desirable interest rates than if you had lower amounts of debt. Even if you have a high credit score, your debt-to-income ratio could affect these things. In reality, a higher debt ratio will make it harder for you to pay back your debt, so it’s important to you. 

How It’s Calculated

You can use an online tool to help you calculate your debt-to-income ratio. You can also use a simple formula if you’re up for doing some math yourself:

Divide your monthly debt payments by your monthly gross income then multiply that number by 100. For example:

Student loans: $400

Car loan: $300

Rent: $700

Income: $4,000 

1400/4000= 0.35 x 100= 35%

Household Ratio

You should also be aware of something called your household ratio. The household is the amount of home-related expenses which includes property taxes, prospective mortgage, home insurance, and more. These costs are divided by your monthly income to get this ratio as well. Obviously, your household debt adds to your financial commitments and is also put into consideration by your lender.    

What’s A Good Debt-To-Income Ratio?

It’s ideal that you keep your ratio less than 36%. Your household ratio should be even lower than this. It’s great to be debt free, but in the real world, that’s not always possible. Your best bet is to be responsible with your finances and work on paying your debt down as much as you can. Then, little by little all of the critical numbers that are required to get a mortgage will fall into place.  

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