HOW MUCH CAN YOU COMFORTABLY AFFORD?
Notice I didn’t just say “how much can you afford?” but “how much can you comfortably afford?” There’s a big difference between the amount a lender might approve you for and the amount that will actually fit your lifestyle without making you feel stretched too thin. A general rule is to keep your total monthly housing costs (mortgage, taxes, insurance, HOA fees if applicable) under 28–30% of your gross monthly income. But that’s just a guideline. The real answer depends on your comfort level, lifestyle, and future goals. Ask yourself: • Do I want to keep extra room in my budget for travel, hobbies, or savings? • Am I comfortable with a slightly higher payment if it means getting my dream home? • Am I planning big life changes soon — like starting a family, going back to school, or changing jobs? Remember, the right home is not just about the price tag — it’s about the life you want to live in it. SAVING FOR YOUR DOWN PAYMENTS AND CL S AND CLOSING COSTS One of the biggest myths about buying a home is that you need 20% down. While putting 20% down can help you avoid private mortgage insurance (PMI), there are many loan programs that require far less — sometimes as low as 3% down for qualified buyers.
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