re: Help determining how much mortgage I can afford

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Also don't just consider the principle and interest. Find out what your property taxes will be. Also your homeowner's insurance will be a part of the mortgage also. Check to see if you need flood insurance. That bit me in the arse.

I was a first time home buyer and didn't really calculate these expenses. It added about $300 a month to the principal and interest. Luckily I could afford it, but it takes many by surprise......

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All of that, plus: furniture and window treatments. Okay, maybe you already own all the furniture you need for a while, but a new house generally doesn't come with curtains/blinds. Decent window coverings can run into serious money. Even plastic WalMart mini blinds for a whole house with lots of windows can add up to big bucks.

What I'm trying to say is that owning a house is a whole series of expenses. If you're paying too much on the mortgage 'cause you bought too much house, you will not be able to afford routine maintenance & keep your too-expensive house up to standard.