Many people today are either living with parents, friends, or on their own in a rental. Many times the question comes up....."Can I Afford to Buy a Home?" Well, let's talk. Take a look at your financial picture first. How much money are you making on a yearly basis before taxes? How many credit cards, auto loans, and other debts do you have? Once you have gathered all this information, you need to tally all your expenses for the month (credit card payments, auto payment, other debts). You do not have to include expenses like utilities, cell phone bill, or insurance. Now, you have your monthly expenses totaled. What is your monthly income before taxes minus your monthly expenses? If you included rent payments in your monthly expenses, put it to the side. You need to have all this information ready and available for further discussion.
Per RENTCafé® data, it shows that a 3 bedroom in Austin, Texas average rent is $1842. By looking at this information, you may assume that purchasing a home maybe your next option. Let me give you an example, if you have been renting for 5 years at the price of $1500.00 per month. YOU have spent $90,000 just on rent. WOW....is correct!!! You could have put that money in your own home.
So instead of asking the question..."Can I Afford to Buy a Home?" CAN YOU AFFORD TO CONTINUE throwing money down the drain? I have helped many individuals and families like you, STOP throwing money away. Message me today for a FREE private consultation at angelinrealestate@gmail.com or send text message at (512) 431-2442.
Teresa Scott-Tibbs, REALTOR®
Keller Williams Realty
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