Publiboda


MARKET ADVANTAGE REALTY (DELRAY BEACH)
Sector: Real Estate
Country: US
State: Florida
Address: 5300 W Atlantic Ave #202, 33484, Delray Beach, Florida, US (View Map)
Phone: 561-921-2001

Description

What`s Your Home Buying Power? If you`re in the market for a new home or investment property, one of the first questions you`ll probably ask is, "What can we afford?" Many buyers become so caught up in how much they can afford that they don`t realize their total buying power-that is, the total amount of purchasing potential they actually have. Buying Power Defined. Your buying power is comprised of the total amount of money you have available each month for a mortgage payment. This means the money you have each month after fixed bills and expenses. Any money you`ve saved for a down payment, the proceeds from the sale of your current home, if applicable, and the amount of money you`re qualified to borrow all impact your buying power as well. When you take all of this into account, you may find you are able to purchase a larger home or a home in a more desirable neighborhood, or you might realize you should be looking for homes in a lower price range. What About Housing Affordability? Housing affordability is a metric used by real estate experts to assess whether or not the average family earning an average wage could qualify for a mortgage on the average home.1 Although this figure is essential to creating a comprehensive overview of the real estate market, it`s not a factor you should consider in your home search. What may be considered affordable to you based on your income and other factors may be different than what`s affordable to the average buyer.

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