Hi BP - I am new to the real estate game here in Portland, Oregon area. 1) I am looking to purchase my first home in the next 6-9 months and was wondering if anyone has recommendations on how much $$$ to have in savings after purchasing the home (inclusive of down payment, closing cost, etc)? I2) am also looking to rent out a bedroom or two in my future home... Any suggestions on how to estimate rent cost for those rental bedrooms and how to go about creating a lease agreement with the person who is renting? Are there good template lease agreements to use? & 3) What % of my monthly net income should my monthly mortgage payment NOT exceed? In the unlikely event I am not renting a room or two in my home, I want to make sure I am not spending too much on my mortgage.
Really appreciate any insight from someone who has been in the game!
Thanks!
Gabby
