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.
The right home should allow you to still afford your desired lifestyle.
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.