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Can You Truly Afford a New House ?

Having paid off the mortgage of our principal residence 3 years ago, my husband and I were ready to purchase our first rental property this summer. As the money coach of the family, I was of course the one responsible for figuring out which price range we can afford and how it will affect our everyday finances. One of the main mistakes people make when purchasing a home is they rely on the bank to tell them the amount they can afford.
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