Considering a home purchase this year?
Make it your New Year’s resolution to know how much home you can afford!
Making a smart home buying decision starts with ensuring that you can truly afford the home of your dreams. This is no single formula for determining how much house you can financially manage, since it is based on individual factors. Starting with a realistic monthly budget is a smart first step.
5 things to consider when budgeting for a new home
1 – Keep other non-mortgage debts in mind when developing your monthly budget.
2 – Be sure to factor in your monthly expenses, like cable, groceries and entertainment.
3 – Don’t forget to allow for potential variable home costs and repairs
4 – Ensure you don’t risk cutting things too close.
5 – Make a list of wants versus needs for you home purchase dreams
Your next step? Contact me to discuss the right mortgage to meet your needs, goals and financial situation.