Exceeding your homebuying budget can add unnecessary stress to your life for years to come.
Keep sight of your long-term goals during the home shopping process. Remember that you want to have money every month to do other things besides pay the mortgage. You don’t want your housing payment to take up all your disposable income.
Also, avoid the temptation to make a more competitive purchase offer by waiving inspection, appraisal, or financing contingencies. If anything goes wrong and you have to back out, you’ll lose your earnest money deposit.
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