How Much House Can You REALLY Afford? (How To Calculate) | NerdWallet

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You want to buy a house, but how do you figure out what you can afford? Home Nerd Kate Wood shows you how you can come up with a monthly mortgage principal and interest payment that will work for you, taking into account the additional expenses of homeownership and what might be different from renting.

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Chapters:
0:00 - Intro
0:48 - Nerdy Tip: Start With Your Finances
1:12 - Nerdy Tip: The Cost Of Your Home Should Be About 3x Your Annual Household Income
1:38 - The 28/36 Rule
2:31 - NerdWallet Home Budget Calculator
4:02 - Budget Considerations
5:45 - Home Warranty Tip
6:13 - Conclusion

#NerdWallet #BuyingAHome #Budget

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How Much House Can You REALLY Afford? (How To Calculate) | NerdWallet

[MakeAMark]

Love the calculator. I've been using it for years

[jamesd]

Helpful! I'm doing research for 20 years from now retirement home so that's even more math! But math and calculators are great practice

[journeytowisdomandwealth]

This was super helpful.. n I just bought a house so glad I had a budget to start. The nerd wallet site shows less than what I pay now but when taxes go up sheesh

[sumanghosh-pbdw]

1:36 - 2836 rule, don't spend more than 28% of your monthly gross, again b4 tax.

[daveicc]

Or you need new windows, a new furnace, new roofing, a new garage door, lawn care, etc…. You better put a whole hell of a lot of money into that emergency fund depending upon the type of home that you own albeit a house or condo unit!

[vikkiyates]

Hi, How can I find the calculator? What tab is it under and do I need to create an account first?

[dname]

Median household hold income in US is 74000. But all these videos give examples of 150k, etc. Even then according to this logic you can't buy a home in most places. Dave ramseys logic is even more unrealistic 😂