Before speaking with a lender, determine how much you’re comfortable spending each month. Just because a mortgage lender pre-approves you for a certain amount doesn’t mean it aligns with your personal financial goals.
Consider all expenses that come with homeownership—property taxes, utilities, homeowners association (HOA) fees, maintenance, and insurance. If you’re transitioning from renting, you may need to account for costs you haven’t paid before, such as garbage collection, water bills, and landscaping.