How much should i save for a house down payment
- how much should a first home cost
- how much does a new home cost
- how much does a new home cost to build
- how much does a new home cost in 2024
11 hidden costs of buying a home...
Buying a house .
How much to save for a house. . it’s a huge life milestone and comes with a lot of emotions. (Excitement?
Total cost of buying a house
Check. Slight panic? Also check!) But don’t worry. Our home affordability calculator can help you figure out how much you should spend on a house.
Did you give it a whirl?
Out of-pocket cost for buying a house
As you can see from the results, how much house you can afford really depends on the relationship between your income and the mortgage—specifically, you should keep your monthly payment at or below 25% of your take-home pay.
(We’ll talk more about that later.)
If that number seems small, just know that I want you to buy a home that’s a blessing, not a burden. When you keep your housing payment below 25% of your take-home pay, that’s exactly what it will be.
Anything beyond 25%, and you risk not having enough margin in your budget every month—which risks putting your home into “burden” territory.
Now, the number you got from our calculator is very close to how much house you can afford, but you’ll need to factor
- how much does a new mobile home cost
- how much does a new manufactured home cost