What is the Right Amount to Spend on a Home?

Published 23 November 08 03:07 PM | Christine Taylor 

Experts say you should not spend more than 28% of your monthly income on housing. This is a good rule of thumb and you should also consider:

  • Talking to a lender about getting pre-approved for a loan.
  • How long will you be in the home before moving?
  • Is a growing family or a maintenance free home in your future?
  • Does purchasing a home provide diversification in your investment portfolio?
  • How much do I have for a down payment?
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About Christine Taylor

Christine has been a REALTOR for four years. Lived in Atlanta area for over 35 years. Specializes in residential real estate and treats every client as if it is her only client at the time!