A budget can be precisely what buyers need to stay on track when it comes to their finances. And while it may not be the most exciting part of owning a home, it's not actually difficult to map out. As buyers research the average costs of a variety of properties (e.g., single-family homes, condos, etc.) in any given area, they can start to get an average ballpark of what they can afford. From the down payment to the closing costs, learn more about what it takes to put everything in order.
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Prospective buyers need to first account for every penny they make per month. This should include not only standard paychecks, but also dividends, bonuses, freelance work, etc. From there, total all monthly expenses, including: