Suze Orman: How to Ultimately Afford Your Dream Home
The money expert shares the essential steps to buying your own place—and knowing when the time is right.
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Don't go in over your head all the while praying that conditions you can't
control will adapt perfectly to your needs. Your mortgage or renovation budget
should not be based on the hope that at some vague, blissful moment down the
road you'll have a higher income so you can pay off a loan, or you'll be able to
sell at a huge profit because real estate values have soared.
There is simply no guarantee that's
how things will work out. A scheme that requires holding your breath for the
financial planets to align in your favor can become a disaster.