Lake Homes Realty -- White Bluff Resort and Lake Whitney, TX
Emily and Bill Morris

Posts Tagged ‘horse properties on Lake Whitney’

A Second Home — Can You Afford It?

May 11th, 2017 by Emily and Bill Morris

A Lake Home? Golf Course Home? Your Weekend Home?

 

Sounds like a great idea. Get away for the weekends to a second home on the lake. But do you really understand how much it may cost — over and above the purchase price? Take a few minutes to put the costs into perspective.

  • Factor in a mortgage, property taxes, insurance, utilities, maintenance fees, property owners association fees or membership fees. Add in up to 1.25 percent of the purchase price to cover annual maintenance and potential repairs.

    White Bluff Resort Lake Whitney

    Water sports and fishing on Lake Whitney, Tx at White Bluff Resort

  • Add your current home’s payments, expenses, etc. to the projected cost and expenses of the second home. Together, that debt should not exceed 36 percent of your monthly gross income.
  • If your finances cover the total debt of both homes,

    One of four pools at White Bluff Report on Lake Whitney

    you’re in good shape to buy that second home. Otherwise, take a breath and wait awhile to look for that weekend home. Call us when you’re ready to look for that weekend place and we’ll be ready to help you find the perfect fit for your family.

    Call Emily or Bill Morris at 254-870-3301.

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http://www.lakehomes.com/documents/TexasBrokerageServicesInfo-EmilyMorris.pdf