When budgeting for a home a buyer should have 3 budgets.
The first is a current budget. Take 30 days to track where every penny goes.
you will be amazed at where you end up spending most of your money.
Then run a budget with the house note that you will have if you buy a house.
Then run a budget adding in a budget for house hold repairs,savings,emergency fund, retirement,and items for children if you have them.
This will help you see "how much " of a house note you can truly afford. Lenders do not consider food,electricity,movies or any of day to items when they approve you for a loan amount. they only consider debit and income.
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