Buying your first home doesn’t have to be out of reach.
Here are the 4 tips on how to budget;
1.The 28% rule. Try to keep your mortgage under 28% of your gross income each month.
2.Choose a home you can handle. Bigger isn't always better, especially if heating and cooling costs break the budget.
3.Expenses beyond the mortgage. Homeownership comes with a lot of ongoing costs that you need to prepare for.
4.Let the downpayment dictate the price. If you have enough to put 20% down on one home but only 10% on another, the cheaper home will give you more bang for your buck.
Comments (2)Subscribe to CommentsComment