Are you looking to buy your first home or is this your second
? When any of you set out to buy a home you go with the idea that this will be the only one you will ever buy. Most of the time this is not true. None of you realize that things good and bad happen to our homes each and every day. You might have bought this home when you are single and then you find a mate only to find that they have a home of their own. When this happens one of you are going to have to sell yours. This is mostly because you will not want to pay taxes on two homes as the ones taxes will probably be high enough.
Some of you might get hit with a fire in your home as to where it will be totally burned. When this happens you will find yourself with no choice but to go buy a new one. You might even find yourself hit with a really bad cases of water damage and mold. This damage could be so bad that you will have no choice but to tear it down. You will then have to rebuild or move into another. You might get promoted at work only to have to move from this plant to another state or even move to another country.
You might have a home only to find that your family is going to increase in size and this home of yours just is not big enough. If and when this happen you will then be looking to buy another home. This might be one reason why our young couples only rent a home. It is no fun to move from place to place and this is why a lot of you will wait to buy that first home. Then there are the ones of you that might lose this home because of losing a job and not being able to pay the bank or the finance company. In older days you would probably be able to find another job but with the economy the way it is right now this might seem impossible.
This is a very big problem in this county of yours as the jobs just do not seem to be there. If you have a home you will want to do whatever it takes to keep it. When going to look at this home make sure that you have the money in hand or that the payments are in your price range even if you happen to lose an income. You do not want this payment to equal half of your total income. If this is what you find when doing the math, stop and think real hard maybe going to something less.