Primer for Home Builders

Cover Primer for Home Builders
Primer for Home Builders
Allan Carpenter
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Thus no one could possibly tell any individual family how much it can spend on a house.
Nevertheless, it is possible to point out certain limits. The 46 PRIMER FOR HOME BUILDERS chart on page 37 attempts to show these limits. The family which goes above them does so at the risk of having a budget which will fall short on the essential items food, clothing, medical expenses.
The limits in the table on page 1 40 show that you should not take on a mortgage in which the nonequity parts of the first
... payment total more than one sixth of your take-home pay. In the same table this is shown by the first column under "monthly take-home pay required. " The nonequity portion is at its largest during the first year ; in fact, at the time of the first payment. So it is assumed that this payment is about what you would have to figure for rent. Considering the figure as constant would make allowance for deprecia- tion and upkeep.
As previously stated, the taxes and insurance have been estimated for a typical community.


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