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Being that my ance' and I are getting into the process of home ownership, I would
let my friend know that they have to be committed to the process. It will be a time of
strict spending and making sure that they are prepared to follow the guidelines of
the realtor and stick to a budget they set forth. They need to know where they stand
at as far as their credit and any negative marks that is on their report needs to be
corrected. They need to do research on the cost of home ownership, taking into
consideration any repairs that may come along and all cost associated with being a
home owner.
I can't tell my friend what is aordable to them. I would let them know that they
want to make sure they stay within their means and don't over stretch themselves.
To make sure they are able to maintain that emergency cushion in case a dire
emergency comes along. But I would think that any friend of mine would do their
research and purchase something within the budget they have to spend on a
mortgage.
I would let him or her know to pull all 3 of their credit reports and go through looking
for discrepancies and any thing outstanding to pay o and keep all current accounts
paid on time. This week opened my eyes a lot more about credit. I feel even though I
may think I know enough, there is always more to learn.
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