Who doesn’t want to own a home? For many Americans, homeownership is probably the greatest personal life investment one can make during their lifetime.
Ultimately, a house cannot truly become your home until you finish all of the mortgage payments. It can take a decade to multiple decades before a mortgage is fully paid off.
The typical cost of a new home is $326,000. Depending on your mortgage contract terms, you might have to make an average $1,600 mortgage payment every month.
Want to live in a large metropolitan city on the eastern or western coast of the United States? The cost of living in large cities is always high, so the typical costs for a home or mortgage payments will also be higher.
There are many safe, small, and medium-sized cities with a low cost of living. It may be more practical for you to buy a home in such cities relative to the current state of your personal finances.
If you need help finding a quality home at an affordable price, contact the Loan Brothers at Mares Mortgage today.
Is a Manufactured Home a Good Investment? Learn All About It
Manufactured homes, often seen as a budget-friendly alternative to traditional site-built homes, have sparked debates on their investment value. These