Читать книгу Home Buying Kit For Dummies - Eric Tyson - Страница 25

Many first-time home buyers discover that their desires outstrip their budgets. Nelson and his wife, Laura, had good jobs and together made in excess of $150,000 per year. They got used to buying what they desired — they ate at fancy restaurants, took luxury vacations, and otherwise indulged themselves.

When it came time to purchase a home, they spent the maximum amount and borrowed the maximum amount that the mortgage person told them they could. After the home purchase, Laura got pregnant and eventually left her job to spend more time at home. With the high homeownership expenses, kid costs, and reduced household income, Nelson and Laura soon found themselves struggling to pay their monthly bills and started accumulating significant credit-card debts. Ultimately, they ended up filing bankruptcy.

Either you own the home, or it owns you. Get your finances in order and understand how much you can truly afford to spend on a home before you buy (see Chapters 2 and 3).