- Saving to put 20% down will help you in the long term, both in interest and mortgage insurance.
- Budget to set aside money each month for home repairs, 1% of your home’s value annually is a good rule of thumb.
- Save up for emergencies. Setting aside 6 months of your expenses is a good rule of thumb.
Planning for the long term will let you buy your first home with confidence. Not sure if you should rent or buy? Here are the pro’s and con’s of both.
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