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[quote=Anonymous][quote=Anonymous]Look at your own budget to figure out what you can afford. Are you a pack a lunch, coupon cutting, never go in trips type? You can afford more house than a restaurant going, gadget buying, traveler, etc.

If you are unsure, practice the cost. [b]Pretend you have a mortgage with a monthly cost of $x. Take $x plus the cost of homeowners insurance.  Then subtract your current rent.[/b] Take whatever the difference is and stick it in a savings account every month for a few months to "pretend" you  have that mortgage. How tight does that make you?  Are you comfortable with that spending level?  If so, buy. And the upside is you've now also got a small savings towards unexpected house costs and repairs. [/quote]

thanks for this, would comfortably be able to do 3x our income. We have kept our rent low in order to have some extra spending money, though we would be happy to put it into a house. It seems like we can afford it, but I want to be sure I'm not forgetting anything and we're not in over our heads [/quote]

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