When it comes to busting your budget to buy a home… How much is too much?
I’ve seen this happen many times before: buyers going over budget to secure a house they really like. And there’s nothing necessarily wrong with that, if it results in a buyer’s happiness and peace of mind! But how far are you willing to go to get what you want?
As a real estate professional, I’m constantly asked what my thoughts are on the market. Truth be told, the market is strong, but it’s moving quickly, causing buyers to make decisions that are in conflict with their original plans.
If you didn’t know, home prices are up 50% since 2012! Combine that with tight inventory and a rise in consumer confidence, and you get an increase in buyer demand that results in an increase in home prices.
Of course, every generation thinks differently, and most people live under very different circumstances. But it seems that no matter the age or current situation, most people are (at least considering) increasing their budget for sake of owning a home.