When making a home purchase, make sure you keep affordability in mind.
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When you’re getting ready to buy a home, affordability is a key consideration.
Home ownership creates the most wealth among Americans, but whether it’s our first, second, or final home, affordability is a major aspect of any home purchase.
Whenever you buy a home, ask yourself if you’re leaving enough money on the table to be able to pay your bills, have reliable transportation, and, most importantly, invest in your retirement.
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The right home should allow you to still afford your desired lifestyle.
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Imagine the following scenario: You’re going out to look for a home and your lender has told you to seek out properties priced around $350,000. Your current rent payment being $1,800 per month, you know the mortgage payment on a $350,000 home will increase this monthly housing expense.
As your expert adviser, my team and I would encourage you to sit down with us and really talk about the numbers. We want to make sure you not only find the right home, but that you find a home that will allow you to still afford your desired lifestyle.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.
