2007-08-06 03:27:46 · 5 answers · asked by tesfaye w 1 in Business & Finance ➔ Renting & Real Estate
Depends where you want to live. You could buy a nice place on your income in small town Canada - no problem.
2007-08-06 03:35:31 · answer #1 · answered by Mawia 7 · 0⤊ 0⤋
you can only afford a home under 70,000. best to start with a condo and build some equity for a bigger place. Also would help to improve the income. What are your opportunities? I would not want to buy unless, I had at least 10% of the cost of the place in the bank for upkeep and improvements. Also, insurance is very expensive.
I had problems when i had a house as the plumbing problems and roof repair put me way over my budget.
2007-08-06 03:38:24 · answer #2 · answered by Nora 7 · 1⤊ 0⤋
Basically you must take in consideration:
what price of home you are looking at,
how much money you have to put down,
what type of credit you have (credit cards, installment loans, and for how many yrs you have been paying on them
how you handled paying your loans or credit cards.(did you pay the entire balance off every month, or did you pay only minimum amt required)
What is your FICO score at the credit bureau.
Hope this helps. I am currently going thru the very same thing
2007-08-06 03:45:37 · answer #3 · answered by txpainthorse 6 · 1⤊ 0⤋
Rosy indeed, if you live in an affordable area. I live in SW MO and someone with that income could easily buy a decent place with that income. Nothing opulent, of course, but very livable and in a decent neighborhood.
2007-08-06 03:32:24 · answer #4 · answered by Bostonian In MO 7 · 0⤊ 0⤋
It is not how much you make but how you use what you make and if you have paid bills on time for a long time. How much you make is only the start.
2007-08-06 03:31:37 · answer #5 · answered by Anonymous · 0⤊ 0⤋