Single-Family Property Management Company Making Home Rental Affordable
The increase in average household incomes has not matched the rise of housing costs over the years. Rents and mortgage costs have risen significantly higher than wages, causing housing options for middle-income families to be less affordable. Accurate and realistic budgeting and assistance from a respected single family property management company like ALG will help make your next move the smart and affordable one for you and your family. Know Your Budget When planning out your budget to determine housing affordability, it is essential to include all one-time and monthly expenses. A common budgeting formula relies on the 50-30-20 breakdown of your financial status. Half your income goes to fixed monthly expenses such as rent, utilities, food, and transportation 30% of your budget consists of life extras like costs for entertainment, dining out, and shopping The remaining 20% of your income is used for eliminating debt and savings This is a basic guide that wil...