How much house should I buy?

1
How Much House Should You Buy?

• Dunhill Homes

2
Take a Reality Check

• Dont solely rely on a lender or real-estate
  agent to determine what purchase amount is
  workable for you.

3
Set Money Aside

• Before you build or buy a home, create an
  emergency fund.
• This fund should include 3 to 6 months of typical
  living expenses that would offset any unexpected
  home repair or maintenance costs.

4
Determine Your Purchasing Power

• Add every source of income that continuously
  arrives each month.
• Add up all your monthly expenses and include
  everything such as any savings, recreation, food,
  transportation, funded charities, entertainment,
  credit card payments, etc.
• Contact a Realtor and determine what you might
  need to pay for property taxes and home insurance
  as well as utilities.
• Subtract your monthly expenses, new home
  insurance, new property taxes and new utility
  bills from your sources of income and take a hard
  look at what you have left over.

5
After Its all Said and Done

• your total debt on a 15 year fixed rate mortgage
  should not exceed 40 of your monthly gross
  income.

6

• Thank you

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