Can You Afford a New Home
In most instances if you are selling a home to buy a new home you still need to consider how much home you can afford. First you are going to need to calculate the bottom line on the sale of your home, looking at what you still owe on the mortgage, how much equity you have, and any fees you may be required to pay.
You are still going to need to take into consideration your income and expenses and the difference this year than in previous years is that it may be a bit more difficult to get as much money for a home purchase. If you can afford a new home and you aren’t completely reliant on selling your current home this may be a good time to buy. The important thing is to sell your home before buying a new one if you can’t afford 2 home payments.
