'Shark Tank' star Kevin O'Leary: Ask yourself these 2 questions before buying a house

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'Shark Tank' star Kevin O'Leary: Ask yourself these 2 questions before buying a house
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'Shark Tank' star Kevin O'Leary: Ask yourself these 2 questions before buying a house via CNBCMakeIt

Buying a house is a big decision and potentially a good way to build wealth — if you're smart about it. That's why"Shark Tank" star and finance guru Kevin O'Leary says you have to ask yourself these two questions before taking out a mortgage.

The second thing you need to determine is whether you're buying a house you can actually afford. So, ask yourself, will the mortgage payment cost more than one-third of your after-tax salary?

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