Real Estate Survival Guide with Terry Story
Business:Investing
With more millennials becoming home buyers, it’s important that they know how to budget for a home so they aren’t overly stretching themselves. As opposed to renters having to worry only about a single monthly payment, homeowners have to add up monthly mortgage payments, annual property taxes, homeowner’s insurance, and association fees if your house is part of an HOA or equivalent, and home maintenance expenses such as wear and tear, minor and major repairs, gardener expenses, etc. Also factor in property tax, insurance, and HOA price increases over time. Buyers with mortgage down-payments of less than 20% may also have to add-in Private Mortgage Insurance (PMI). Dec. 13th, 2017
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