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Summary

Homeownership can help build your wealth, but you can easily end up paying too much for your house and your mortgage.

Credit Limits

  • Buy a home when it's right for you. Don't be persuaded by common myths about homeowning or be pressured into a purchase when you're not ready.

  • Try to cap your housing costs at 25% of your gross income to give yourself some financial flexibility.

  • Consider matching your mortgage type to the length of time you expect to be in the house. But don't automatically discount the traditional 30-year, fixed-rate mortgage, which offers stability and flexibility for many buyers.


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