There is a rule of thumb that says you should not buy a home that costs you more per month that 20 to 25% of your take home pay. We rarely see anyone following that rule of thumb today.

Too many consumers are buying homes that take a large part of their monthly income. This leaves little room in their finances for emergencies, furniture, vacations, investing, etc. With the past relaxed lending requirements, people were buying way more home than what they could realistically afford. If you go down this road, chances are that you’ll grow to hate this home. You should own a home, the home should not own you.

If you are buying a home in the next 6 months and want to learn more about the process from an Exclusive Buyer Agent. Call us at 847-566-7558 or e-mail info@relocationadvisorsgroup.com   We are an Exclusive Buyer Brokerage (meaning that we never list property for sale or represent sellers) serving the Chicago area.