My husband and I are both 25 and have just started house hunting, but have decided to wait a few more months to pay off some more debt before buying our very first home!
Our plan now gives us $500 dollars a month for saving/repairs or anything else that may come up
After $2400 for a mortgage payment(including taxes and insurance), utilities, car payments, going out expenses, groceries, gas ect.
Do you think that's a decent amount of disposable income? It will most likely be more as my husband's job is half commission based, but I'm figuring everything based on zero commission...rather scale down than up!Advice for young couple/first time home buyers?
TIPS:
1. Get someone in your family that has owned a home for quite a few years in on the whole thing from start to finish.
2. You check with the Better Business Bureau if you are using a realtor for prior customer complaints etc...
3. Also ask the BBB about the mortgage company handling the entire sale. There have been people ';stuck'; because of predatory lenders.
Protect yourself first and be educated on not only what to expect but is it reliable, legal and complete.
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