Tagged With homeownership

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One big lesson we learned from the housing crisis: Don't buy more home than you can afford. There are a handful of rules for figuring out what that amount is, but this one considers the additional costs, beyond home price. With this rule, all of your housing-related expenses should be no more than 25 per cent of your gross income.

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Older homes have character, often boasting features like architectural windows and solid plaster walls that you don't find in many newer buildings. When it's time to renovate, though, older houses present costly challenges that aren't so charming. Here are the biggest and most common renovation issues you should prepare for.