Reply to HHI 350k, how much house would you buy?

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Reply to "HHI 350k, how much house would you buy?"

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[quote=Anonymous][quote=Freeman][quote=Anonymous]Thank you for stating the obvious. In general, if you have saved money, and yet you still don't know if or how to buy an appropriate priced real estate, keep renting. Or, simply re-decorate the room you still live in in your parents house. [/quote]

[b]Or they could go online, start running numbers through calculators, and also ask the opinions on others in an attempt to educate themselves in such financial matters. You know, like what the OP is trying to do. I'd wager that anyone that manages to save $150k is probably already fairly capable of handling their own financial matters, but they can't work in a void. Everyone has to learn sometime.[/b]

To the OP, I've found that the best approach is to figure out what mortgage payment you would be comfortable paying each month.(Keep in mind all other expenses and savings when finding this number, since you don't want to end up "house poor") Once you have that number, it is easy to calculate the general ballpark number for a mortgage, based on your down payment and monthly payments. Since that number will be different for everyone, I can't give you any specific advice.[/quote]

OP here, thank you.[/quote]

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