Homebuying Made Easy
Helpful ways for you to get started.
Few moments in your life are as exciting as the day you're given keys to a brand new home. At the same time, buying a home is probably the largest purchase you'll ever make. KB Home wants to help you have a better understanding of the homebuying process before you begin. The more you know about what to expect, the more satisfying your experience will be.
Take a look at your finances
Your first question is probably, "What can I afford?" To determine your buying power, it's best to start with a close look at your budget. As a rule of thumb, most people can afford a home that's 3.5 times their gross income. Of course this depends a great deal on your expenses. It may be easiest to decide what you would be willing to spend on a monthly basis and then look at what price range of homes fit that payment.
Start with some basic financial housekeeping:
- list your current expenses (car payments, credit card payments, insurance, cell phone bills, etc.)
- look at your current housing costs and decide if you're willing or able to increase that payment
- determine if your credit report is in good shape or if you need to address issues
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