Budgeting for Rent or House Payment
Photo of home in Puyallup. I don’t take too bad picture for a Realtor, huh??
It probably is about a wash…budgeting, that is. The usual rule when buying, is between 30-40% of your income should be allocated to your house payment. Some lenders will vary. Some loans will vary. For Instance, some VA buyers with no bills can get approved for about 1/2 of their income towards the house payment.
Rents, apparently, should be in the same area. 30% or there abouts, of your income towards your rent payment.
Some Realtors will argue that there is no good reason to rent. I, on the other hand, say there are good reasons to rent. What if you don’t know where you want to buy? How about if your fiance has a different idea? How about if you just don’t want to commit yet to buying Real Estate??
I think all of the above are great reasons to rent.
Now if you think it might be time to buy….if you have been reading my blog and agree with me there are some terrific buys out there for the person who wants to own their own home. I say go look at some homes for sale. Look at some Open Houses.
Be careful, pick an area and look at some homes……Then Call Me!!
Your Favorite Realtor, Dennis Endres, right here in Downtown Puyallup.
