Buying First House Tips -

: Budget 2% to 5% of the home's price for closing costs, which include appraisal fees and taxes. Additionally, expect to spend at least 1% of the home's value annually on maintenance.

: Experts at My Home Pathway recommend spending no more than 30% of your gross income on monthly payments, having 30% of the home price saved (for down payment plus buffers), and limiting the total home price to 3x your annual income . buying first house tips

: A pre-approval letter from a lender like DFPI proves to sellers you are a serious buyer and locks in your potential interest rate. : Budget 2% to 5% of the home's

: Real estate experts on Instagram note that a good layout matters more than trendy finishes, as style is easier to change than floor plans. 7 Tips for First-Time Homebuyers - DFPI : A pre-approval letter from a lender like

To avoid being "house poor," you can use these common rules of thumb to determine your budget: