When you finally decide that you’re ready to buy a house – or sell your current home and buy another – one of the first questions you ask yourself is, how much can I afford?
Inquiring about affordability is smart. Unfortunately, getting a clear answer isn’t always simple. Every real estate agent, lender, financial advisor, and homeowner has a different opinion on how much house is okay to own. But regardless of what number or ratio people land on, everyone agrees that there’s no benefit to being house poor.