When buyers ask, "What can I afford?" they usually start with the mortgage payment.
I want them thinking bigger.
Because owning a house costs more than principal and interest.
Your true housing budget can include:
Property taxes, insurance, HOA fees, utilities, landscaping, maintenance and future capital improvements.
And the bigger the property, the more important those numbers become.
Think five years ahead.
A house may be affordable today.
But what happens when the HVAC needs replaced?
Or the roof?
Or exterior maintenance?
This doesn't mean you shouldn't buy the house.
It means you should understand the house.
The goal isn't simply getting approved for the mortgage. The goal is comfortably owning the home after closing.
