⬇️ Don’t start house hunting unless you’ve checked these three boxes.
Please don’t buy a house… unless you can check these three boxes. And I say this as someone who finances homes for a living.
This isn’t just about your down payment. You need at least 3 months of mortgage payments saved up after your down payment and closing costs.
I’ve seen people stretch too far, with no safety net… and end up selling at a loss within a year. Don’t be that person.
Your mortgage is just one piece. Add in property taxes, insurance, and HOA fees if applicable. If that total number doesn’t fit your monthly budget with room to spare, you’re not ready.
If you’re not planning to stay or hold the home for at least 5 years, you’re risking a loss. Buying and selling both come with costs — and flipping after a year or two isn’t a real strategy unless you get very lucky.
If you can’t check all three boxes, I’m the mortgage advisor telling you to wait.
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