How Affordable is Affordable Housing in Carlsbad California
What is Affordable?
Affordable housing simply means that your mortgage and all of your housing expenses are less than 30% of your income. So you can see, affordable doesn’t necessarily mean cheap or inexpensive. Affordable is all relative depending on your income. Having affordable mortgage payments makes it easier to save money and use those funds for retirement, living, and other fun expenses.
That being said, there are dozens of homes, condominiums, lofts, and townhomes for sale in the Carlsbad area and all along the coast of San Diego County. If you’re looking for a home within close proximity to the beaches or with a waterfront view, those homes will naturally be a little bit more expensive typically starting around $400,000.
Reasonably priced and inexpensive is all relative depending on your income. The best way to go about finding an affordable home in Carlsbad or any of the seaside villages and towns is to discuss your income, debts and liabilities with a qualified California mortgage broker. A mortgage officer or broker has access to hundreds of different types of programs and options that may fit your lifestyle and your budget best. While everyone’s budget is different, a qualified lender will go over all of your assets and liabilities to determine exactly how much home you can afford. The mortgage payment itself will cover principle, interests, possible taxes, insurance, and possible mortgage insurance. But your overall housing percentage of 30% should also include utilities and any other costs and fees associated with owning a home.
To get started on finding your affordable home in San Diego County or anywhere along San Diego’s coastal villages and towns, call me today. I would be happy to get you in touch with a mortgage broker in your area or discuss options and possible homes for sale that fit your lifestyle and your budget.
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