By the end of 2021, the average price for a new home hit nearly $361,700. Buying a home is likely to be one of the biggest purchases you’ll make. But, it’s not just about getting a mortgage pre-approval. First-time buyers often focus on the loan amount, missing other costs.
This oversight can lead to financial trouble and even foreclosure if they can’t handle the monthly bills.
Key Takeaways
- Budgeting for a new home is crucial to avoid financial hardship and foreclosure.
- The mortgage payment is just one part of the overall homeownership costs to consider.
- Lenders typically expect a 20% down payment to avoid private mortgage insurance (PMI).
- Closing costs can range from 2% to 5% of the purchase price, depending on the state.
- Homeowners should set aside 1% to 3% of the home’s value annually for maintenance and repairs.
Understanding the Importance of Budgeting
Budgeting is key when buying a home. It keeps your finances stable and avoids future problems. When planning for budgeting for a new home, think about more than just the monthly mortgage. Include all costs of owning a home.
Avoiding Financial Hardship and Foreclosure
Not knowing the true costs of owning a home can cause financial trouble. This might even lead to foreclosure. To avoid this, check your debt-to-income ratio. This is your monthly bills divided by your income. If it’s over 36%, you might struggle to pay your bills on time.
Factoring in More Than Just the Mortgage Payment
Being a homeowner means more than just paying a mortgage. You’ll need to budget for homeowners’ insurance, property taxes, and repairs. These costs can add up fast. Making a 20% down payment can help avoid extra insurance costs.
Expense | Average Cost |
---|---|
Homeowners’ Insurance | $1,200 – $2,000 per year |
Property Taxes | Varies by location |
Repairs and Maintenance | 1-4% of home value per year |
Knowing all the costs and budgeting for a new home helps you avoid money problems. This way, moving into your new home is smoother.
The 28% Rule for Homebuying
When planning to buy a home, the 28% rule is a simple guideline to follow. It says your monthly mortgage payment should not be more than 28% of your gross monthly income. This includes the mortgage, property taxes, and insurance.
Calculating Mortgage Affordability
The 28% rule helps figure out how much home you can afford. Let’s dive into how it works:
- The 28/36 rule means you should spend no more than 28% of your income on housing costs and 36% on all debts.
- Lenders usually want your housing costs to be no more than 28% of your income. They also look for a total debt-to-income ratio of 36% or less.
- If you make $5,000 a month, the 28% rule means your mortgage payment should not be over $1,400.
The 28/36 rule is just a guideline. Lenders can adjust their rules based on your credit score, debt, and mortgage type. This can affect how much they’ll approve you for.
Gross Monthly Income | Maximum Monthly Mortgage Payment (28% Rule) | Maximum Total Debt Service (36% Rule) |
---|---|---|
$5,000 | $1,400 | $1,800 |
$7,500 | $2,100 | $2,700 |
$10,000 | $2,800 | $3,600 |
The 28% rule is just a starting point. When planning your budget, think about all your debts, like student loans and credit cards. This ensures you don’t take on too much. By using the 28% rule and calculating your mortgage affordability, you can make smart financial choices as a homeowner.
Considering Other Debts and Obligations
When you’re planning to buy a new home, think about more than just the mortgage payment. You also need to look at your other debts. Lenders check your debt-to-income ratio to see if you can handle a new home loan.
Let’s say your monthly mortgage payment could be $1,000, and you have another $1,000 for car payments, student loans, or credit cards. That makes your total monthly expenses $2,000. If your income is $6,000 a month, your debt-to-income ratio is 33%. This might be too high for some lenders. Usually, a ratio of 43% or less is best for getting a mortgage.
Looking at your homebuyer debt obligations helps you decide what home you can afford. This way, you won’t overstretch your finances.
“Staying within a sustainable debt-to-income ratio is crucial for maintaining financial stability and avoiding potential foreclosure down the road.”
Lenders check your debt-to-income ratio to see if you can handle your mortgage and other debts. This helps them figure out how much mortgage affordability you can manage without financial trouble.
By planning your finances well and keeping a healthy debt-to-income ratio, you boost your chances of getting a mortgage. This helps you move into homeownership smoothly.
Homeownership Expenses Beyond the Mortgage
Buying a home is more than just getting a mortgage. You need to think about ongoing costs that can affect your budget. These include homeowners’ insurance, utility bills, and maintenance fees. These costs can add up, making a home seem more expensive than it seems at first.
Homeowners’ Insurance Costs
Homeowners’ insurance is key to protecting your home. In the U.S., property taxes vary widely, from 0.32% in Hawaii to 2.23% in New Jersey. In 2023, homeowners insurance premiums went up by 8.6% to $1,700 for new policies. The cost depends on your home’s location, size, and features, as well as your coverage.
Utilities, Repairs, and Maintenance Expenses
Utility bills for electricity, gas, water, and internet can increase your monthly costs. You also need to plan for maintenance and repairs, which can be about 1% of your home’s value each year. This covers things like lawn care, snow removal, and fixing any problems that come up. For example, lawn mowing costs between $50 to $250 per visit, while trimming trees averages $1,800.
Expense | Average Cost |
---|---|
Homeowners Insurance Premium | $1,700 per year |
Property Taxes | 0.32% to 2.23% of home value |
Lawn Mowing | $50 to $250 per mow |
Tree Trimming | $1,800 |
Maintenance (1% of home value) | $4,076 per year (for a $407,600 home) |
When planning for a new home, remember to include these extra costs. This helps keep your finances stable and prevents unexpected money problems.
The Importance of a Down Payment
Buying a new home requires careful planning, especially when it comes to the down payment. Lenders usually want buyers to pay at least 20% of the home’s price upfront. This approach lowers the lender’s risk and can result in a lower interest rate and smaller monthly payments for the buyer.
Avoiding Private Mortgage Insurance (PMI)
If a buyer can’t afford a 20% down payment, they might still get a mortgage but will likely have to pay for private mortgage insurance (PMI). PMI adds an extra cost to monthly mortgage payments, ranging from 0.5% to 1% of the loan amount. Putting down more money means paying less interest over time and smaller monthly payments, even with PMI.
On average, first-time home buyers put down 6% of the home’s price. Historically, a 20% down payment was the norm in the U.S. But for low- to moderate-income families, FHA loans require only a 3.5% down payment. Fannie Mae and Freddie Mac now allow conventional loans with down payments as low as 3%.
The down payment size greatly affects a buyer’s mortgage affordability, monthly payments, and long-term interest costs. Budgeting and planning are key to a successful home purchase without the extra cost of private mortgage insurance.
“The more down payment, the less interest you’ll pay over the life of the loan, and the smaller your monthly mortgage payment will be, even if you are hit with mortgage insurance.”
Closing Costs and Financing Considerations
Buying a new home means looking at closing costs. These can add up to 2% to 5% of the home’s price. They cover various fees and expenses related to the purchase.
One big cost is the loan origination fee, which is a percentage of the loan. Buyers also need money for an escrow account’s initial deposit. This account holds money for property taxes and insurance.
Other costs include recording fees, title insurance, and seller concessions. Knowing these costs helps buyers plan their budget for closing costs. This makes moving into a new home smoother and more affordable.
Mortgage Financing Options
There are many ways to finance a home purchase. Buyers can look at traditional loans, FHA or VA loans, or adjustable-rate mortgages (ARMs). Each option affects closing costs, monthly payments, and future financial responsibilities.
Choosing the right mortgage is crucial. Buyers should think about their budget, credit, and needs. This way, they can pick the best financing option for their situation.
Closing Cost Item | Typical Cost Range |
---|---|
Loan Origination Fee | 0.5% – 1% of loan amount |
Escrow Deposit | 2 – 3 months of property taxes and insurance |
Homeowners Insurance (First Year) | Varies by policy |
Prepaid Property Taxes and Interest | Prorated based on closing date |
Recording Fees | Varies by location |
Title Insurance | 0.5% – 1% of home value |
Understanding closing costs and mortgage options helps buyers make smart choices. This ensures a smooth and affordable move into their new home.
Choosing the Right Property Size and Condition
First-time buyers should think about the size and condition of a home before buying. A big house might cost more to heat and cool. A small, cozy home in a beautiful area sounds great, but think about the long driveway in winter. A big fixer-upper might seem cheap, but fixing it up can be expensive.
Factoring in Renovation and Maintenance Needs
Before buying, check the utility bills and talk to a construction expert about repairs or renovations. Think about your skills and time for home improvements. Guessing wrong can lead to delays and extra costs.
Experts say location is key for a home’s value growth. Older homes in good areas might be better than new ones. Historic homes can also get grants and lower property taxes, up to 50% in some places. New homes need less upkeep but have modern tech and comforts.
When planning your budget, think about more than just the mortgage. Consider property taxes, utilities, and unexpected repairs. Starter homes are cheaper but might not have enough room or furniture. Make a list of must-haves and wishes to match your budget.
A real estate agent can help pick the right property and save time. Do your homework on the area, safety, and flood risks before buying. Home inspectors can spot big problems before you buy.
Think about the size, condition, and upkeep of a property before buying. This careful planning helps first-time buyers make a smart choice. It can prevent financial trouble and make owning a home rewarding.
Budgeting for a New Home: A Comprehensive Approach
Buying a home is a big step in your financial life. It needs careful planning and budgeting for long-term affordability and stability. For first-time buyers, it’s important to make sure the house fits your budget. You might want many things in a home, but it must be affordable.
When budgeting, don’t just think about the monthly mortgage payment. Homeownership has extra costs like insurance, utilities, repairs, and maintenance. Not planning for these can lead to financial trouble. So, it’s key to plan for all homeownership expenses.
Experts suggest following the 28/36 rule for a solid financial base. This means your housing costs should be no more than 28% of your income. And your total debt should be under 36% of your income. This rule helps prevent overextending your finances and reduces foreclosure risk.
Don’t forget to include other debts like student loans, car payments, and credit card balances in your budget. These can affect how much you can afford for a home. They should be part of your budgeting.
Expense | Percentage of Home Value |
---|---|
Homeowners Insurance | 0.25% – 1% |
Utilities | 1% – 3% |
Repairs and Maintenance | 1% – 2% |
When planning for a new home, think about long-term costs. A big down payment can help avoid PMI. And remember, closing costs affect your budget too.
By taking a thorough approach to home buying budgeting and considering all homeownership costs, you can make a smart choice. This ensures your financial goals are met and homeownership is enjoyable.
Mortgage Payment and Debt-to-Income Ratio
Calculating Affordability
When you’re looking to buy a new home, think about how much you can afford for a mortgage payment. This includes your debt-to-income (DTI) ratio. These factors help figure out your monthly mortgage payment comfort level without overextending your finances.
The debt-to-income ratio shows lenders if you can handle your monthly debts, including a new mortgage. It’s your total monthly debt payments divided by your gross monthly income. Lenders usually want this ratio to be 36% or less. But, some might accept up to 50% in some cases.
To find your DTI ratio, add up your monthly debts (like credit cards, car loans, student loans) and divide by your pre-tax income. This gives you a percentage showing how much income goes to debt. A lower DTI ratio means you’re more likely to get a loan and afford your mortgage payments.
Loan Type | Front-End Ratio | Back-End Ratio |
---|---|---|
Conventional Loan | 28% | 36-45% |
FHA Loan | 31% | 43% |
VA Loan | 41% | No maximum |
Lenders also look at the housing-to-income (HTI) ratio. This compares your potential mortgage payment to your monthly income. Aim for an HTI ratio around 28% for the best loan terms.
Knowing your DTI ratio and mortgage payment affordability helps you get better loan deals. It also ensures you can afford your home long-term. A strong financial standing is crucial for a smooth home-buying process.
Homeowners Insurance and Disaster Coverage
Protecting your home and belongings is key. Homeowners insurance is a vital part of that safety net. Yet, many homeowners don’t realize how much coverage they need, leaving them at risk of big financial losses. In fact, studies reveal that most homeowners lack enough homeowners insurance coverage, especially as home values and building costs go up.
There are two main types of homeowners insurance: named-peril (HO-3) and open-peril (HO-5). Named-peril policies are cheaper but cover only specific hazards unless they’re not listed. Open-peril policies offer more protection against various disasters. Choosing between them depends on your area’s risk level and your comfort with the coverage trade-offs.
It’s crucial to make sure your insurance reflects your home’s true rebuild cost. Rebuilding a 2,000-square-foot home costs about $300,000, or $150 per square foot. Not having enough disaster insurance policies could leave you underinsured if disaster strikes.
There are key endorsements and add-ons to consider, like building code coverage. This pays for the extra costs of meeting new building codes after a disaster. It’s also vital to update your policy for home improvements and upgrades, as they increase your property’s value.
“Homeowners often underestimate the value of their personal belongings, leading to inadequate coverage. Creating a detailed inventory can help ensure you have the right amount of protection.”
Creating a detailed list of your belongings is crucial for the right coverage. Many homeowners don’t realize how much their stuff is worth, leading to being underinsured. This means you could face big expenses if something happens to your property.
Homeowners insurance covers many events, like fires, burst pipes, theft, and vandalism. But, it might not cover damage from flooding, earthquakes, or other specific disasters. Getting extra disaster insurance policies for these risks can offer more protection for your home and finances.
Reviewing your homeowners insurance and considering local risks can help protect your home and belongings. Don’t wait to check your policy and adjust it if needed. This way, you can have peace of mind knowing you’re well-protected.
Budgeting for Repairs, Renovations, and Upgrades
As a homeowner, it’s key to plan your budget for home repairs, renovations, and upgrades. These costs can quickly add up and hurt your finances if you’re not ready. To keep your home in great shape and maintain its value, you must include home repair and maintenance budgeting and estimating home improvement costs in your plans.
Estimating Replacement Costs and Life Spans
First, learn how long your home’s big systems and appliances will last. Experts say to save 1% to 2% of your home’s purchase price each year for upkeep. This covers roofing fixes, sewer work, or new appliances, which can be very expensive.
Here are ways to plan your maintenance budget:
- Set up automatic transfers to save for home upkeep, about 2% of your home’s purchase price each month.
- Keep a separate account for home maintenance to pay for repairs and replacements as needed.
- Do home improvements bit by bit, like new carpets or kitchen counters, to spread out the costs.
- Save money by cutting back on things like coffee or eating out, and put that money into your home maintenance fund.
- Use online tools like budget trackers to manage your money and find ways to save more.
By starting with small, regular savings and planning ahead, you can grow a fund for any unexpected home repairs or upkeep.
Kitchen Renovation Budget Items | Percentage of Total Budget | Budget Amount |
---|---|---|
Cabinet and Hardware | 28% | $8,400 |
Installation and Labor | 18% | $5,400 |
Appliances and Ventilation | 15% | $4,500 |
Countertops | 11% | $3,300 |
Flooring | 7% | $2,100 |
Lighting | 5% | $1,500 |
Walls and Ceilings | 5% | $1,500 |
Windows and Doors | 4% | $1,200 |
Plumbing and Faucets | 3% | $900 |
Design | 3% | $900 |
Other | 1% | $300 |
Total Budget | 100% | $30,000 |
Being proactive with your budget for home repairs, renovations, and upgrades protects your property’s value. Regular upkeep and timely replacements keep your home in great shape for years.
Property Tax Planning and Reassessment
As a new homeowner, it’s key to plan for property taxes, even if your lender takes care of them. Property taxes often go up each year. So, keep an eye on changes in your area by checking past tax bills.
Lowering your property tax might be possible by asking for a reassessment if homes near you pay less. Many places offer tax relief, like the STAR Program in New York for seniors.
- Reassessments make sure properties pay their fair share of taxes.
- If properties haven’t been reassessed in a while, their tax assessments might be wrong.
- Changes in property values don’t always mean your taxes will go up. They could go down, stay the same, or increase.
- Reassessments don’t change how much money local governments make from taxes. The tax rate is set separately from assessments.
Recently, real estate taxes for single-family homes in the U.S. went up about 24% from 2019 to 2023. The average U.S. homeowner now pays around $2,826 a year in property taxes. In places like Westchester County, New, taxes can be as high as $15 a year.
Planning a home renovation or addition could lead to a property tax reassessment. This might raise your taxes. The cost of the project, the property’s new value, and the tax will affect the tax increase.
Learning about property tax planning and reassessment helps you budget better. It ensures you pay a fair share of taxes based on your home’s value. By staying informed and proactive, you can handle property taxes better and make smart choices for your home’s future.
Choosing Between Fixed and Adjustable-Rate Mortgages
When buying a new home, choosing between a fixed-rate and an adjustable-rate mortgage is a big decision. This choice affects your finances for years to come. So, it’s key to know the main differences between these two mortgage types.
Fixed-rate mortgages have the same interest rate for the loan’s life, usually 30, 20, or 15 years. This makes your monthly payments steady, helping you budget better. Adjustable-rate mortgages, however, have rates that can change with the market. They often start with lower rates than fixed-rate loans.
Fixed-Rate Mortgages | Adjustable-Rate Mortgages (ARMs) |
---|---|
|
|
Choosing between a fixed-rate and an adjustable-rate mortgage depends on your financial goals and how long you plan to stay in the home. If you want stability and predictable payments, a fixed-rate mortgage might be best. But, if you’re planning to move soon or expect your income to rise, an ARM could offer lower initial payments and flexibility.
Talking to your lender and financial advisor is crucial to find the right mortgage for you. By looking at the fixed-rate vs. adjustable-rate mortgages and comparing mortgage products, you can make a choice that fits your goals.
Building an Emergency Fund for Unexpected Expenses
Owning a home means facing unexpected costs, like big repairs or losing a job. It’s key to keep an emergency fund apart from your savings for a down payment and closing costs. Experts say save 3-6 months’ worth of expenses for emergencies. This way, you won’t use your home equity or retirement savings.
The right amount for your home buying emergency fund depends on your past emergencies and their costs. Look at your spending and make a budget to set a savings goal. Keep an eye on your savings and automate it to stay on track.
Creating an emergency fund for unexpected expenses is about saving regularly, not just a big sum. Begin with small amounts like $5 or $100 a month and increase it over time. Use direct deposit or recurring transfers to save automatically. Don’t spend more or get new credit cards, as they can slow down your savings.
Your emergency fund should be easy to get to when you need it, so keep it in savings or checking. Set rules for what counts as an emergency expense. This way, you can use your funds wisely, avoiding credit card or loan debt.
Building a solid home buying emergency fund is vital for handling financial surprises. Plan ahead and save regularly to protect your home and finances. This way, you’ll have the money for unexpected costs without risking your long-term financial goals.
Tax Deductions and Credits for Homeowners
As a homeowner, you might get tax deductions and credits that lower your homeownership costs. One big deduction is the mortgage interest deduction. This lets you deduct the interest on your home loan. But, you must itemize your deductions to get this.
Homeowners can also deduct property taxes, up to $10,000 if filing alone or with a spouse. Married couples filing separately can deduct $5,000. Mortgage insurance premiums might be deductible too, based on your income and other things.
You can deduct interest on home equity loans or lines of credit if you used the money for home improvements. If you run a business from home and have a dedicated office, you can deduct some utility costs and other expenses.
Homeowners might get tax credits, like the energy-efficient home improvement tax credit. This can give you up to $3,200 back for making your home more energy-efficient.
It’s key to talk to a tax expert to make sure you’re using all the homeowner tax deductions and credits you can. Planning ahead and knowing your taxes can help you save more and get the most from owning a home.
Tax Deduction or Credit | Eligibility and Limits |
---|---|
Mortgage Interest Deduction | Deductible up to $750,000 for single filers or married couples filing jointly, and $375,000 for married couples filing separately. |
Property Tax Deduction | Deductible up to $10,000 for single filers or married couples filing jointly, and $5,000 for married couples filing separately. |
Mortgage Insurance Premium Deduction | Deductible based on income level and other factors. |
Home Equity Loan/HELOC Interest Deduction | Deductible up to $750,000 for single taxpayers or couples filing jointly, and $375,000 for married couples filing separately. |
Energy-Efficient Home Improvement Tax Credit | Credit of up to $3,200, equal to 30% of qualified expenses. |
The tax rules change often, so it’s important to keep up and talk to a tax expert. This way, you can make sure you’re using all the homeowner tax deductions and credits you can.
Conclusion
Buying a home requires careful budgeting and planning. You need to think about more than just the monthly mortgage payment. Costs like closing fees, homeowners insurance, property taxes, and maintenance fees are important too. This helps you decide how much home you can afford.
Work with a trusted mortgage lender and financial advisor to understand your budget. They can help you look at your debt-to-income ratio and find the best financing options. Also, building an emergency fund for unexpected costs is key. Planning and budgeting early ensures you find a home that matches your financial goals.
Buying a home is a journey, not a quick race. With a solid budget in mind, you can move forward with confidence. This way, you’ll find a home that suits your lifestyle and finances perfectly.
FAQ
What is the median sales price for a new home as of the fourth quarter of 2021?
The median sales price for a new home was nearly 1,700 as of the fourth quarter of 2021.
Why is it important to consider more than just the monthly mortgage payment when budgeting for a new home?
First-time buyers often focus on what lenders offer, not other costs. This can lead to financial trouble and even foreclosure if they can’t afford the monthly payment.
What is the 28% rule for homebuying?
The 28% rule says your mortgage shouldn’t be more than 28% of your income each month. The FHA allows up to 31% of your income for a mortgage.
How do other debts and obligations factor into determining home affordability?
You must consider all your monthly bills, like student loans and retirement savings, along with the mortgage payment. This helps figure out what you can really afford.
What are some of the homeownership expenses beyond just the mortgage payment?
Owning a home costs more than just the mortgage. You’ll also pay for insurance, property taxes, utilities, repairs, and maintenance.
How does the down payment amount impact affordability?
Lenders want at least 20% down. If you put down less, you might need private mortgage insurance (PMI), adding to your costs.
What should buyers consider regarding the size and condition of a property?
Look at utility bills and get a construction expert’s estimate for repairs. Be honest about your renovation skills and time.
Why is it important to have a comprehensive home financial plan?
A detailed financial plan helps avoid being house-rich but cash-poor. It ensures the home fits your budget.
How do the homeowners’ insurance and disaster coverage needs factor into the budget?
You need the right insurance and disaster policies for your area. This protects you from financial risks.
What should be included in budgeting for home repairs and maintenance?
Set aside 1% to 3% of your home’s value each year for maintenance. Keep track of appliance ages and separate repairs from upgrades.
How can property taxes impact the home buying budget?
Property taxes increase yearly. Keep an eye on them and look for tax relief programs to lessen your burden.
What factors should be considered when choosing between a fixed-rate or adjustable-rate mortgage?
Think about how long you’ll have the loan. An adjustable-rate mortgage might be cheaper if you plan to sell soon or pay off the mortgage fast.
Why is it important to maintain an emergency fund separate from home purchase savings?
An emergency fund covers unexpected costs like repairs or job loss. It keeps you from using home equity or retirement savings.
What tax deductions and credits can help offset the costs of homeownership?
You might deduct mortgage interest and get tax credits for energy efficiency. These can lower the cost of owning a home.
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- Budgeting For Planned Repairs and Upgrades – https://www.facilitiesnet.com/facilitiesmanagement/article/Budgeting-For-Planned-Repairs-and-Upgrades–18464
- How to Create a Home Renovation Budget – https://www.ramseysolutions.com/real-estate/home-renovation-budget
- Reassessments – https://www.tax.ny.gov/pit/property/learn/reassess.htm
- How Much Higher Are Your Post-Pandemic Property Taxes? – https://www.nytimes.com/2024/03/28/realestate/how-much-higher-are-your-post-pandemic-property-taxes.html
- How Will My Property Taxes be Affected by My New Build/Remodel? – https://www.letterfour.com/blog/how-will-my-property-taxes-be-affected-by-my-new-build-remodel
- Fixed vs. Adjustable-Rate Mortgage: What’s the Difference? – https://www.investopedia.com/mortgage/mortgage-rates/fixed-versus-adjustable-rate/
- Fixed vs. Adjustable-Rate Mortgages: What’s the Difference? | Bankrate – https://www.bankrate.com/mortgages/arm-vs-fixed-rate/
- Choosing Between Fixed and Adjustable-Rate Mortgages: Pros and Cons – https://migonline.com/blog/2024/02/01/choosing-between-fixed-and-adjustable-rate-mortgages-pros-and-cons/
- An essential guide to building an emergency fund | Consumer Financial Protection Bureau – https://www.consumerfinance.gov/an-essential-guide-to-building-an-emergency-fund/
- 5 steps to build an emergency fund – https://www.securian.com/insights-tools/articles/5-steps-to-building-an-emergency-fund.html
- Emergency Fund: What It Is And How To Start One | Bankrate – https://www.bankrate.com/banking/savings/starting-an-emergency-fund/
- Know what’s deductible after buying that first home, sweet home – https://www.irs.gov/newsroom/know-whats-deductible-after-buying-that-first-home-sweet-home
- 8 Tax Deductions For Homeowners – https://www.rocketmortgage.com/learn/tax-deductions-for-homeowners
- Paying a mortgage? These tax breaks can save homeowners thousands – https://www.cnbc.com/select/tax-deductions-for-homeowners/
- How to Budget for a New Home | Chesapeake Homes – https://www.cheshomes.com/blog/how-to-budget-for-a-new-home/
- How To Budget For A House: A Guide – https://www.rocketmortgage.com/learn/how-to-budget-for-a-house
- New Home Budget | Budgeting for New Homeowners – https://www.homesforheroes.com/blog/new-home-budget-budgeting-for-new-homeowners/