02/28/2023
One of the best ways to avoid becoming house poor is to ensure you are not stretching your budget too thin when it comes to your mortgage. Make sure the amount you are committing to each month is something that you can afford, even if there are unexpected expenses.
It's also a good idea to have an emergency fund saved up to cover those unexpected expenses. Additionally, it might be worth considering a 15-year mortgage instead of a 30-year one. This will help you pay off your home quicker and may save you money in the long run.
Finally, make sure you are aware of all the costs associated with real estate transactions and make sure they are in line with your budget.
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