Buying at the top end of your pre-approval price could be setting you up for many dull years to follow.
WHY????? Because, your home cost is more than just a mortgage payment.
There are property taxes, maintenance, utilities and more due every month. If those add up to 35% of your total income, you’re on the right track. If not, you might have to sacrifice in other categories such as vacation, debt repayment or savings. Take a look at the pie chart to see how you can be life rich instead of house poor
NEED HELP FITTING A HOME INTO YOUR BUDGET? CALL US FOR HELP TODAY!
Source: Mortgage Architects