Home Buying Guide

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Home Buying Overview

What is this doc? 🧐

Welcome to this Home Buying Guide! The goal of this doc is to help you keep track of different homes you’re looking at and think through affordability—based on a

@Fixed-Rate Mortgate

⁠

—to help you find the perfect home. Although it’s not an all encompassing guide to everything home buying, it should help you better understand where you are in the home buying process and what questions you might want to walk through with qualified professionals.

As a disclaimer, I’m not a real estate agent, realtor, lawyer, or financial advisor, but created something very similar when first exploring the posibility of buying a condo and used it to help inform conversations I was having with my partner and qualified professionals.

There are three main sections in this doc.

First up is the Homes section where you’ll find an overview of all the homes you’re wanting to keep track of.

You’ll be able to add new homes, edit existing ones, and even track comments with your friends and family if you want them to be a part of the home search process!

⁠

Homes All the homes you've added⁠

⁠

Home Loan Calculator Fixed Rate Home Loan⁠

The second is the Home Loan Calculator, which provides an overview of all your main loan information, adjusted for your gross income, the specific home you’re looking at, and other variables. It also pulls in common guidelines dynamically.

This page is the most helpful for figuring out what’s likely to be affordable.

The final of the three main sections is the Bonus Features section, which includes a dictionary and a basic loan calculator. You can use the basic calculator to get a rough idea of what different loan amounts and rates would cost in total and monthly as you think about what kinds of properties to explore. It provides less information than the Home Loan Calculator, but is a good starting point.

⁠

Bonus Features⁠

Getting Started 🙌

First up, make your own copy of this doc!

⁠

Copy this doc

⁠

Now that you’ve done that, you’ll need to update the two fields below to make note of your rough financial circumstances, which directly inform the dynamic

Personal Finance Guidelines⁠

in the

Home Loan Calculator⁠

. If you don’t update them below, they won’t work accurately for you.

Your Rough Financial Circumstances

Your Annual Gross Income ($):

0000000

100000

⁠

For your annual

@Gross Income

⁠

, if you’re buying the property with another person who will be cosigning the mortgage and contributing to the payments, then combine your annual gross incomes.

Your Monthly Obligations ($):

00000

⁠

For your monthly

@Obligations

⁠

, don’t include your current rent or things like subscription services that you spend on a monthly basis. These are other obligations you have like student loans or auto loans.

What is this doc? 🧐

There are three main sections in this doc.

Getting Started 🙌

Your Rough Financial Circumstances

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