Thinking about buying your first house? Anticipate the costs of owning and budget for it first. Start living like you are already a homeowner in your cash flow and see if you can manage what would be the equivalent to a mortgage, real estate taxes, utilities, repairs and insurance. Factor any income tax savings from having the interest and tax deduction. Married already and both working? Try not to buy a home that will require both full-time wages to pay for it. Anticipating job changes and new babies will help you afford a home through life cycle changes. See more information at the U.S. Department of Housing and Urban Development | RELATED ARTICLE:Financial Considerations for First-Time Homebuyers
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