I dare bet that almost half of my blog readers belong to the category of people looking for some programs to purchase a home of their own or at least pursue the dream of owing home. I remember myself taking all those steps to qualify for a house and those were hard times, really. The hit-and-miss method of making a capital didn't bring any good and I started with insufficient credit history for such a big purchase.
When I lost hope already, my friends were just here to tell me of the Affordable Housing Group which gives the latest information and most adequate consultations on resolving issues connected with purchasing a home and maintaining it.
It was then that i learned about such a term as Affordable Housing and it helped me decide on what sort of housing I can actually count.
Affordable housing implies that you purchase a house which total cost is affordable to those living in it. How do you know that you can really bear all those expenses? Well, it is very clearly explained by the housing non-profit organization, the National Low Income Housing Coalition which also informes you about the most affordable and least affordable places in the USA.
According to their guideline, you can afford a house if its monthly maintainance cost does not exceed 30% of your gross income. Note that the cost is calculated with the inclusion of taxes and ensurance of the owner and utilities. From time to time though, the data may change and you need to consult the housing organization.
With these numbers in head, after defining the approximate cost of your future home, you can start out searching for it. To make the house search easier for me, the Affordable Housing Group outlined the places for me with more and less affordable houses and also explained what the cost of the house depends on.
So, if you're in search of a dwelling now, mind it that in places where the demand for affordable houses is higher than the supply, the prices can be constantly changing and sometimes the house become unaffordable allready. And it is vexing, isn't it?
Let's delve into economics to understand why it happens. You see, because of the ever growing demand and people's strong desire and determination to own their own home, land values are always increasing and faster than you income does. Sometimes housing marketers can even make the housing supply more expensive at places affordable to below the average income customers.
Thus, you can simply be too late for a house. Not to miss the opportunity, keep getting information from the housing group and aim at increasing your income. See to it that you have a good credit history.
And the last piece of advice from me. Be very certain about what exactly you want. Define your demand for a home drawing from the following:
the cost of the house
the type of the house
location of the house.
Well, I hope that you will benefit from this post and it will really help you in your choice and purchase of the house.
If you want to clear out some point on how it all happend with me, feel free to ask questions in your comments.
Good luck to you.