Purchasing a Home on Two Incomes

8 10 2010

Many young couples base their ability to afford housing on dual incomes.  Such a financial practice may not be the wise decision and here’s why:

Purchasing a home based on combined incomes locks the couple into a required full-time, dual-income lifestyle once they have purchased a home.

Family obligations or a job loss may later disrupt their ability or willingness to continue the dual-job lifestyle.  In fact, many couples planning on having a child want either spouse to stay home with that child. 

Instead, couples might be better off basing their housing affordability on one income or one income plus a part-time job.

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