How Much Home Can I Afford

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How Much Home Can I Afford

Not Sure How Much House You Can Really Afford? Start Here.

Before you fall in love with that perfect house online, there’s one crucial question to answer: how much home can you actually afford? Most first-time buyers make one of two mistakes—aiming too high and getting overwhelmed, or aiming too low and limiting their potential. Here are 3 quick tips to help you find that sweet spot—so you can buy with confidence and clarity.

1. Use the 30% Rule to Set a Smart Monthly Budget

A solid starting point is the 30% rule—this means your total monthly housing expenses (including mortgage, taxes, and insurance) should be no more than 30% of your gross income. So if you earn $6,000/month before taxes, your max housing cost should land around $1,800. This keeps your finances flexible and your stress levels low.

2. Don’t Overlook Hidden Costs of Homeownership

It’s easy to forget the extras that come with owning a home. Things like utility bills, HOA fees, lawn care, appliance repairs, and the occasional leaky faucet. These costs can sneak up on you, especially if you’re transitioning from renting. Build some cushion into your budget—$100–$300/month is a safe range for unexpected home expenses.

3. Balance Your Budget With Long-Term Goals

Yes, buying a home is a big deal. But it’s not your only financial goal. Make sure your future mortgage leaves room for savings, retirement contributions, emergency funds, and a little fun. A house shouldn’t feel like a financial straitjacket—it should be a solid step in building long-term wealth and peace of mind.

Want Help Running the Numbers?

At Stairway Mortgage, we specialize in helping first-time buyers find their perfect price point—not too high, not too low, just right for building wealth and breathing room.

📘 Download our Free Affordability Guide to learn how lenders calculate your buying power, what costs to expect, and how to get financially prepared.

📅 Or [schedule a quick call with our team] and we’ll help you run the numbers in real time—no pressure, no obligation.

Let’s figure out what fits—before you shop.

Ready to Take Your First Step?

Skip the guesswork. Take our quick Discovery Quiz to uncover your top financial priorities, so we can guide you toward the wealth-building strategies that fit your life.

  • Takes just 5 minutes
  • Tailored results based on your answers
  • No credit check required
Take the Discovery Quiz

Need a Pre-Approval Letter—Fast?

Buying a home soon? Complete our short form and we’ll connect you with the best loan options for your target property and financial situation—fast.

  • Only 2 minutes to complete
  • Quick turnaround on pre-approval
  • No credit score impact
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Got a Few Questions First?

Let’s talk it through. Book a call and one of our friendly advisors will be in touch to guide you personally.

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