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What other bills should i calculate in my budget when buying a home.I currently live in an apartment paying 730 a month. Electricity is 150 per month, Water & Gas are 20 per month, renters insurance is 15 per month, cable & internet are 70 per month. I plan on purchasing a home around 150 to 170 thousand dollars. Corpus Christi Texas.
Thanks in advance.

2 Thoughts on What payments should I consider when purchasing a home?
  1. Reply
    tacuache101
    July 19, 2011 at 3:30 am

    Here is a good rule of thumb I would share with my clients: your house payment shouldn’t be more than 40% of your monthly income. Anything over that amount and you won’t have enough money to pay for everything else that you need for yourself and home. Taking on a 2nd job to make up the difference will kill you emontionally since you will be at work more than you will be at home. Hope this helps you get a better picture of purchasing a home. It can be done.

  2. Reply
    Iffy
    July 19, 2011 at 3:47 am

    Mortgage principle and interest. Homeowners insurance roughly 1k a year, property taxes, electricity, heat, hot water, sewer, trash, maintenance, repairs, lawn upkeep.

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