Whether you are a first-time homebuyer, looking to upgrade or downsize, affordability typically plays a factor. But how much can we afford? Are there any rules of thumb? This recent article from houselogic by Realtors outlines four fantastic tips on the topic, including:
- Preparing a detailed budget
- Factoring in your downpayment amount
- Considering your overal debt
- Using your rent as a mortgage guide
Prepare a family budget that tallies your ongoing monthly bills for everything — credit cards, car and student loans, lunch at work, day care, date night, vacations, and savings.
G. M. Filisko