Financial stress is horrific.
It tears families apart.
The most important financial question to ask yourself, before you buy a home, is: “What’s the worst that can happen?” What if interest rates rise? What happens if you buy based on two incomes and you lose one income?
Think of the future. Your financial limit today will rarely be the same as your financial limit in the future. Sure, it might be better. But what if it’s not? What if things get worse?
Play it safe. Make sure that when you buy a home, you will be able to keep your home.