In the heat of house-hunting, it can be easy to keep all the numbers in your head. You debate back and forth over which properties to target and for how much and under what conditions. But as the Trulia blog notes, if you mostly just do this mental math without putting it down on paper it can be easy to talk yourself into less-advantageous deals when the numbers in your head collide with the emotions in your heart.
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If you don't have sense enough to know this already, you probably don't need to be buying a home
ReplyDeleteso true!! don't let the bank or realtor tell you what you can afford. use common sense and look at the way YOU LIVE. it could be that you like nice vacations or enjoy other hobbies that cost money that isn't reflected on your application for a mortgage.
ReplyDeleteNEVER let someone else tell you how much to spend on your mortgage. nobody wants to be "married" to their home. it's hard to come home everyday from work and drive up your driveway and resent the home for whatever reason.
USE COMMON SENSE......
lol, I remember when during the boom I was looking to buy a home. And somehow, on 50K salary, I pre-qualified for a 450K mortgage. Crazy.
ReplyDelete