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QUIZ: Should you buy or rent a home?

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If you’re dead set on buying a home, here’s a quiz to see if you are considering everything. Remember that housing should make up about 35% of your overall monthly budget. As such, it’s damn important to the overall success of your whole financial life.

Let’s assume you are looking at buying a $250,000 house (BTW, I used that figure for quick math, but you can easily gauge your particular numbers based off it):

Do you have $50,000 in the bank for a down payment?

Do you have roughly $5,000 to $10,000 for other stuff like real estate taxes and insurance?

Are you totally cool with about a $1,500 monthly payment (assuming low interest rates)?

Got $3,000 to $5,000 for closing costs?

You all set with moving costs and other big expenses when...

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