Colli Real Estate

How much should we offer on our first home?

Together, my husband and I make about $70K per year. We don’t have any debt (besides our cars) and are probably looking at about $1500 per month in bills (not including rent). We are in the market for a new house – but have no idea how much to offer. I have looked at a mortgage calculator online, but I also read that you have to add onto what the amount is because of home owners insurance (around $200). Just wondering what you would spend on a home if you were in our shoes. Thanks for the help!

Your monthly payment to the mtg company includes principle, interest, real estate tax and insurance. Add to that heat- sewer and water, trash disposal
You currently have a monthly income of 5k, debt of 1500.
3500 left for utilities, food and entertainment. You don’t tell us how much of a down payment you have saved nor can we tell what percent the mtg company will charge you. You and your spouse have got to sit down and do some realistic math.
Unless you have a minimum of 30k saved for a down payment I do not think you can afford a house right now.

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