People that are looking to purchase a home frequently question how much they can afford to pay for a house. Although numerous financial experts claim to have a simple formula for the answer, the truth is there are several factors to consider. Affordability of just the purchase cost, down payment, and monthly mortgage price shouldn’t be the only components to consider when trying to calculate the affordability of purchasing a house. Buying a home has always been part of the American dream. However, it is important to carefully consider what a buyer can realistically afford so a home purchase does not become an unaffordable nightmare.

This podcast episode talks about how much money a person should spend on a home.

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