Can You Afford the Home You Want?

Can you afford to purchase the home you really want? Here are some things to consider:

• What kind of home do you want?

• What kind of area do you want to live in?

• What features and characteristics do you need in a home? (Three bedrooms? A large living room for entertaining? A backyard big enough for a garden?)

• What homes currently on the market match that criteria?

• Are there some properties for sale that are close to what you’re looking for?

• What are their listing prices? How much, realistically, will it cost to buy one of those homes?

• How much, realistically, can you expect to get for the sale of your current property?

• How much of a mortgage will you need? How does that compare to the mortgage you qualify for?

• What additional costs will you incur when selling your current property and purchasing your new home? (For example, moving, home inspection, repairs and renovations, closing costs, etc.)

Chances are, there’s a home on the market that you can afford – and is right for you.