🏠💭 Are you gearing up to take the plunge into home ownership but aren’t sure where to start when figuring out how much you can afford? I’m here to help guide you through this crucial step. 👇📝
As a general rule of thumb, your monthly housing expenses shouldn’t exceed 28% of your gross monthly income. That’s your mortgage, including principal, interest, taxes, and insurance (PITI). 💰
To get started:
Add up all your income.
Multiply that by 0.28.
What you have now is a reasonable estimate for your total monthly housing budget.
But remember! It’s not just about the mortgage. Consider other ongoing costs like utilities, repairs, maintenance, and potential homeowner association fees. 🏡💡
Also, don’t forget about your other financial goals and obligations. You shouldn’t put your entire income into your home, leaving nothing for retirement, savings, or an emergency fund. Financial health is about balance. 🧘♂️
Reach out for professional advice when needed and take your time to make a decision. ❤️🏠
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Today is a good day to get started, let’s embark on this exciting journey together. Reach out to Ashe County Realty today, and let our experienced team guide you through the real estate market. Whether it’s a cozy cabin in the mountains or a charming home in town, we will help you find the perfect place to call your own.
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www.ashecountyrealty.com