Shopping for a new home can be so much fun and exciting. Whether you find yourself out window shopping or surfing the internet don't let all of the glitz and glamour of the new homes cloud your thinking. Knowing what you can afford makes the process of buying that new home all the more enjoyable.
In all fairness some online calculators designed to help you determine how much home you can afford do give you a snapshot of your financial obligations. But what about the HOA, Home Owners Association that the majority of neighborhoods have? The membership fees vary greatly from one neighborhood to the next. You want to be sure that you can afford to pay those membership fees. Many of the HOAs in Texas have the right to foreclose on a property that has become delinquent on their membership dues.
Or how about the cost of heating or cooling that new home? In Texas the major expense is the cooling - do you think of all that cool air rising to the top of the high ceilings which are popular? I personally like the feel of the open space with taller than average ceilings. What I don't like is having my hard-earned dollars floating to the top of those high ceilings. The overall size of a home should be considered as well.
We have discussed only a couple of items to take into consideration when buying a new home. None of them should discourage you from buying that dream home. Just be sure to buy what you know you can afford and you will enjoy it for years to come.