|
Start with what you can afford. If you can currently afford $250,000 and you know that your dream home ranges from $500, 000 -$750,000, then focus on finding a suitable home that meets your financial comfort level. Striving to purchase something that you know you can not afford may result in foreclosure of that home when you can't make the mortgage payments. Waiting to purchase may not be wise as the appreciation of homes may grow faster than your income and savings. Buying what you can afford now is the way to enjoy the tax benefits, the appreciation of the property and the equity you can gain by making some improvements to your home. This way you may find yourself very soon more readily able to qualify and compete for that ultimate dream home.
|
|
