05/26/2026
Determine your budget! Fall in love with a number before you fall in love with a house. It sounds backwards, but knowing your real budget before you start touring homes saves you from the very common and very painful experience of finding your perfect place and then discovering it does not actually fit your financial capabilities. A standard guideline is to keep total monthly housing costs, including mortgage, taxes, insurance, and any HOA or community fees, at no more than 25% of your monthly take-home pay. That number may feel conservative. It is. That is the point. For vacation and second homes in the Poconos, do not forget to factor in costs that do not apply to a primary residence: property management if you plan to rent it out, higher insurance rates for seasonal properties, HOA fees for lake communities, and ongoing maintenance on a home you are not watching every day. Want a realistic conversation about what buying in this market looks like financially? Reach out anytime.