Affordability
Knowing how much house you can afford begins with taking stock of the type of features you’d like to have in a home. Your individual needs, location requirements, style and the amount of effort you are willing to put into finding your dream house, all factor into the equation. How important is it for you to be near a school? How long will it take you to commute to work? How safe is the neighborhood? These are all legitimate questions that can help you choose your ideal home.
Have a range in mind before you go house hunting. What’s the minimum and maximum amount you can afford to buy? For instance, if you’re considering purchasing real estate in the $200,000 to $250,000 range, a down payment of $20,000 could be the difference between an additional $200-$300 monthly on a higher priced home.
