The home buying process can be overwhelming for a first time buyer. Over the next few days I will be outlining the process along with key things to consider as you begin the path towards becoming a home owner!
The Path to Owning Your First Home: Day 1
The first step in the home buying process is figuring out how much you can afford. Obviously you don't want to start searching for a $500,000 house if you can only afford $300,000. The accepted formula for how much should be spend on a home purchase is 3 times your annual income. If Math isn't your forte here is an example: If you are married and your combined household income is $80,000 then you should be able to purchase a home worth $240,000. Of course there are other factors that play into this number but we will get to those in a day or two :)