|
Be a smart buyer, know your limit. It is so easy to get excited with the possibilities of owning a large home with many upgrades but don't let the shiny Kohler faucets trap you into a loan you cannot afford. Find a budget and stick to it.
Budget Basics Work Sheet
The first step in getting yourself in financial shape to buy a home is to know what you make and what you spend now. List your income and expenses below.
Income
|
|
|
Take-Home Pay/All Family Members
|
|
|
Child Support/Alimony
|
|
|
Pension/Social Security
|
|
|
Disability/Other Insurance
|
|
|
Interest/Dividends
|
|
|
Other
|
|
|
Total Income
|
|
Expenses
|
|
|
Rent/Mortgage
|
|
|
Life Insurance
|
|
|
Health/Disability Insurance
|
|
|
Vehicle Insurance
|
|
|
Homeowners or Other Insurance
|
|
|
Car Payments
|
|
|
Other Loan Payments
|
|
|
Savings/Pension Contribution
|
|
|
Utilities
|
|
|
Credit Card Payments
|
|
|
Car Upkeep
|
|
|
Clothing
|
|
|
Personal Care Products
|
|
|
Groceries
|
|
|
Food Prepared Outside the Home
|
|
|
Medical/Dental/Prescriptions
|
|
|
Household Goods
|
|
|
Recreation/Entertainment
|
|
|
Child Care
|
|
|
Education
|
|
|
Charitable Donations
|
|
|
Miscellaneous
|
|
Total Expenses=
|
|
Remaining Income After Expenses=
|
|
|
Buyer Education