Humans have been thinking about the way they decorate their homes for thousands of years. In ancient India, Vastu shastra (literally, “the science of architecture”) has been informing decorating techniques since as early as 6,000 BCE. The more commonly known influence for home decorating, feng shui, has its roots in ancient China where practitioners were inspired by astronomy. In the early 1900s, however, a modern science was founded that attempts to solve some of the problems that arise based on our environments.

Environmental psychology is a field that focuses on the interplay between humans and the environments they live and work in. Scientists have studied the way humans (and other animals, like rats) are affected by their environment. Their findings help to inform us of how we can live more relaxed or focused based on how we decorate our home and workplace.

A place to call your own

As society becomes increasingly urbanized, many psychologists are studying the problems that arise from being in constant contact with one another, both physically and in the digital world. One thing that scientists have discovered is that it is important for humans to have a place of sanctuary during their day. Whether this is your cubicle at work, your home office, or your tool shed, everyone needs a place they can be alone. Ask yourself if your home setup provides you with a space that you can go to be alone.

How colors can affect mood

Have you ever been in a school or hospital that was painted an awful color that just made you uncomfortable? Many of us have trained ourselves to adapt and live with environments that aren’t ideal for us. For example, the bright red walls of McDonald’s or the blinding fluorescent lights in a department store probably aren’t conditions we’d pick for our homes. Scientists have discovered that there is a correlation between colors, brightness, and our mood.

Try to match the colors of your rooms with their functions. For example, you wouldn’t want to paint your bedroom bright red, as your bedroom should be a place you can relax to fall asleep. Instead, go with a less-pronounced color for the bedroom.

The balance between cluttered and sterile

Much of the way we choose to decorate our homes is informed by our childhood. If you learn meticulous cleaning habits from your parents, you might carry on with this into adulthood. As a child, you probably went to a friend’s house and marveled at how differently they did things. Part of that lesson is learning that the way someone chooses to decorate and clean their home is part of their personality. But like most things in life, it’s important to find a balance.

If you find yourself restless or distracted you should ask yourself if the room is too cluttered or messy. Maybe it’s the opposite; you could just as easily become distracted or uncomfortable by an environment that is too sterile looking.

Listen to yourself

The most important thing to remember when decorating your home is to follow your intuitions. Decide if you decorated a room a certain way because that’s what everyone else does or if it actually makes you feel more at home.

 

When you get pre-approved for a mortgage, you may be excited to find out that you can afford a lot more house than you thought you could. Don’t be so fast, this is just what you can get a loan for. The mortgage broker doesn’t know a lot of factors about your finances. While you most likely had to provide a ton of income verification statements and information in order to get this ballpark figure, relying solely on the pre-approval number can put you in a bind when it comes to your finances. Your lender doesn’t know certain things like how much you spend on groceries or how much your cell phone bill is each month.

What Lenders Consider

Lenders look at the health of your credit history, how much income you have and how much debt you have. These are the big factors that tell your lender about how much house you can afford. Yet, your home lender is not your financial advisor and can’t help you with household expenses and the like. When thinking about what price range of home you really can afford, consider these factors beyond the bank:

Your Monthly Budget

Your spending habits will ultimately affect your ability to pay the monthly mortgage bill. If you’re spending all of your disposable income, then you may not be able to afford much at all beyond what you’re already paying for rent. You don’t want to stretch your finances so thin that you won’t be able to afford food!

Owning A Home Requires Additional Costs

Lenders do factor into their number the cost of homeowner’s insurance and property taxes, but don’t consider other things like utility bills, trash pickup and home repairs. All this can certainly add up when you’re a homeowner!

Your Savings Is Nonexistent

If you’re unable to save any money at all if you’re a homeowner, then you’ll be in trouble. You need money stashed away in case of unemployment or an emergency. You also may be planning for things like retirement and future costs like children’s education. For the initial purchase of a home, you’ll need upfront payments available for the down payment and closing costs. However, you’ll need some more savings beyond that for everything that life brings your way! 

You Have Big Plans

Are you thinking of quitting your job and heading out to start your own business? Now may not be the best time to buy a new house. These changes could have a huge impact on your finances and leave you unable to pay your mortgage. Your lender won’t be asking about these plans, so you’ll need to know what the future holds (for the most part ) in order to keep your own finances secure. 

The bottom line is that anything that could leave you financially stressed is not a good idea. Considering that buying a home is one of the biggest purchases you’ll ever make, you want to be sure that you keep your finances in check during the purchase process.  Consulting with a Mortgage Broker for a pre-approval is an important first step in the home purchase process, but you will need to take the total mortgage payment amount (mortgage, taxes, home insurance) and factor it into your monthly budget before deciding on a final home price range. Contact us any time for a referral to a local mortgage broker who can answer any questions you have about your pre-approval and mortgage payment numbers!

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