Evan Willoughby
Understanding the 30% Rule in Online Home Buying
The 30% rule is a popular guideline used by potential homeowners to determine affordability when buying a property. This principle advises spending no more than 30% of your gross monthly income on housing costs, which includes mortgage payments and other related expenses. While it's a useful starting point, it’s crucial to consider factors like market conditions, additional hidden costs, and personal financial stability when applying it. In this article, we'll explore the benefits and limitations of the 30% rule and provide practical tips for those looking to buy a house online effectively.
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