Posts Tagged: condo affordability

Is It Time to Get a Bigger Place?
Is It Time to Get a Bigger Place?

Is It Time to Get a Bigger Place?

  |   By AuthorMy First Apartment
When you buy a condo, you seldom expect to stay forever. When should you upgrade? It depends. Getting a bigger place could be a great idea, or it could take more time and money than you’d bargained for. Your Situation Your Place Was Always Too Small You thought your first condo was a little tight,…
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How Much Should Interest Rates Affect Your Decision to Buy?
How Much Should Interest Rates Affect Your Decision to Buy?

How Much Should Interest Rates Affect Your Decision to Buy?

  |   By AuthorMy First Apartment
By Ali Donoghue Like it or not, if you need a mortgage to buy a condo, you need to understand interest rates. Your interest rate – together with the size of the the loan – determines the amount of monthly payments when you take out a mortgage on your home. So, for example, if you…
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How Much Should You Budget for Condo Closing Costs?
How Much Should You Budget for Condo Closing Costs?

How Much Should You Budget for Condo Closing Costs?

  |   By AuthorMy First Apartment
Congratulations!  You’ve saved diligently and your dream condo down payment is within sight.  You are all set to start looking for a place when you visit your friendly neighborhood mortgage loan officer and find out that you need to save a little bit longer, to cover your condo’s closing costs.  There costs vary by location,…
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What Price Condo Can You Afford on Your Income?
What Price Condo Can You Afford on Your Income?

What Price Condo Can You Afford on Your Income?

  |   By AuthorMy First Apartment
Before you step foot in an open house, you need to know how much condo you can afford. For example, if you make $50,000/year, you cannot afford a $300,000 condo, unless you have a secret trust fund. And even if you make $100k/year, a million dollar condo is way out of your league. And, if…
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