Many people start their lives excited to buy their first home. They look to what the think they can afford and decide this will be their “Starter Home.”
They look to the maximum amount the banks will give them with innocence in their eyes, not thinking twice that they would be one paycheck away from losing it all.
The Dangers of Too Much House
The Financial Crisis of 2008 was devastating to so many people and families. It affected not only homes but so many other financial avenues.
Living In A Small House To Save Money
Experts say to stick with the 25% rule. 25% of your monthly take-home pay should constitute your house payment (whether its rent or mortgage).