New research sheds fresh light on one of the most frequently asked home-buying questions, especially for first-timers: With our annual income, what price house can we afford? Is there some handy rule-of-thumb? Decades ago, a commonly quoted price-to-income guideline was that you can afford a house that costs roughly two times your gross annual household income. So back then, if you and your spouse or partner earned a combined $50,000 a year, you could likely […]
source https://therealdeal.com/miami/2018/12/14/how-much-can-you-afford-to-pay-for-a-new-home/#new_tab
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