You’ve crunched the numbers, looked at listings, and maybe even started imagining your new couch in a sunny breakfast nook. But before falling too hard for a home, it’s smart to take a step back and ask a big question: how much house can you really afford?
It’s easy to focus on the monthly mortgage payment alone, but there’s more to the picture. Lenders might approve you for a certain amount, but that doesn’t always mean it fits comfortably within your lifestyle or long-term goals.
Start with Your Monthly Budget
Think beyond the loan approval and consider how much you’re comfortable spending each month. Include costs like utilities, groceries, transportation, savings, and any personal spending that makes your life enjoyable. What’s left over is the number you can realistically dedicate to housing expenses without stretching too thin.
Factor in the Extras
Buying a home comes with costs that don’t show up in a simple mortgage calculator. Property taxes, homeowner’s insurance, and HOA fees can add up quickly. Then there’s ongoing maintenance. Things like landscaping, HVAC servicing, and unexpected repairs can sneak into your budget before you know it.
Don’t Forget About Your Future
Are you planning to start a family? Travel more? Start a business? The right home should fit your lifestyle now and make room for whatever comes next. You want a place that supports your future without making you house-poor in the present.
Pre-Approval Is a Great Starting Point
Getting pre-approved gives you a realistic range to work with. It also shows sellers you’re serious, which can make a difference in competitive markets like Cary. But even then, make sure the amount you’re approved for feels comfortable to you.
Work with Someone Who Knows the Market
The best way to balance your wish list with your budget is by working with someone who truly understands the Cary market. Nina Gervase knows how to find homes that match your financial comfort zone while still checking the boxes you care about most.
Ready to explore homes in Cary that are the right fit for your lifestyle and your budget? Reach out to Nina Gervase and let’s get started on finding the one that feels just right.
