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How Much Home Can You Afford?

Posted on October 11, 2013

iStock Sold-webFiguring out how much home you can afford can be a daunting task. And, while we are always here to help you purchase Gulf Coast real estate, we can understand if you aren’t to the point of consulting a realtor, especially as a first time homebuyer.

If you are thinking of buying your first home, congratulations! Also, prepare for unexpected costs. While mortgage calculators, even ours, are very helpful in determining how much of a payment you can swing, they don’t tell the whole story. Don’t forget you will also need to carry insurance on your home purchase, which can vary widely, as well as pay taxes on your property each month.

Mortgage calculators also tell you nothing about the fees associated with buying a home. You will be expected to pay for inspections, appraisals and closing costs, in most situations. Be sure you have enough socked away to not only put forward your down payment but cover these additional costs, as well. For more tips, call us at Brad Shoults Real Estate today!

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