Thinking ahead: planning is crucial as a first-time buyer Written by Heather Chilvers (Royal Gazette article)
How much home can I afford to buy? I am tired of renting, and I want to buy a house. My bank says I qualify to buy a home for $400,000, but I am worried if something breaks, I won’t be able to afford to fix it, plus make my mortgage payment. How can I make sure I won’t get in over my head?"
Dear Potential Buyer, You appear to be an intelligent first-time homebuyer — a buyer who thinks ahead — and that’s good. It’s smart to consider affordability before signing that purchase contract and plunging into debt. [READ MORE]