: Budget 2% to 5% of the home's price for closing costs, which include appraisal fees and taxes. Additionally, expect to spend at least 1% of the home's value annually on maintenance.
: Experts at My Home Pathway recommend spending no more than 30% of your gross income on monthly payments, having 30% of the home price saved (for down payment plus buffers), and limiting the total home price to 3x your annual income . buying first house tips
To avoid being "house poor," you can use these common rules of thumb to determine your budget: : Budget 2% to 5% of the home's
: Even a small boost can significantly lower your interest rate, saving you thousands over the life of the loan. buying first house tips