Are you getting ready to buy a home? If so it would be wise to figure out how much home you can afford ahead of time. In most cases a fixed mortgage will become easier to pay as the years go by because you will probably be making more income later on. I am writing this article to help you calculate what you can afford so that a home does not become a burden.

Why should you calculate what you can afford ahead of time?

You do not want to rely on the bank's estimation. They may overstate what you can afford and you will unpleasantly find out later when you begin feeling the crunch of making that monthly mortgage payment. Secondly, you do not want to waste your time looking at houses you cannot afford. You want to begin looking at houses below your price range and work your way up. You may find that there isn't much difference in the houses in the lower price range and you may save a good amount of money buying the lower priced home. Below you will find the calculations needed to determine your price range.

· Figure Out Your Monthly Net Pay - Add up the household's take-home pay after taxes. Look at all the contributor's pay stubs and determine a combined monthly take-home pay.

· Create A Monthly Household Budget - Make a list of all recurring monthly expenses. Include car payments, electric bills as well as grocery bills and insurance bills. If you have any bills that get paid quarterly or yearly, figure out how much you would need to pay monthly for them and include that amount in your monthly budget. Also include new bills you will incur once you own a home ทาวน์เฮ้าส์มือสอง กรุงเทพ in the monthly budget such as taxes and home insurance.

· Determine How Much House You Can Afford - Subtract your monthly expenses from your monthly net pay. Make sure to set an amount aside for emergencies. Your formula should look like this:

Monthly Net Pay - $6,000

Monthly Budget - $4,000

Emergency Money - $500

Affordable Mortgage - $1500

Determining how much you can afford ahead of time will definitely save you time and can possible save you money when going through the buying process. It will also make home ownership more pleasant because you will be living with a mortgage payment you can comfortably make. If you are ready to buy a house, make sure to Download my powerful FREE report "How to Buy A Wholesale Deal Without Taking A Bath! ($97 Value) by clicking the link below.

Create Date : 18 กันยายน 2562
Last Update : 18 กันยายน 2562 15:09:29 น.		0 comments
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