I’m getting in the position of being able to buy a house and plan on buying something that’s worth 3–4 years of my salary. The reason is I don’t want to pay too much for a house, am not comfortable with a 30 year mortgage (I’m comfortable with a 20 year though). The problem is that most of realtors and mortgage lenders (banks included) that I’ve spoken to keep recommending that I spend a lot more to get a house. For example I want to cap the amount at $40000-50000 and they’re encouraging me to double it. Yes on paper I can afford it but it doesn’t make sense to me to buy that much house especially since life happens and I’ve lived long enough to have experienced this more then a few times. Is this a sound idea or should I up my budget? What is your advice?
August 10, 2019 at 11:18PM
