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**Your lender decides what you can borrow but you decide what you can afford.**

When you make the decision to purchase a home, it is worth your time to consider total expenses and mortgage payments in your decision.
Lenders are careful, but they make qualification decisions based on averages and formulas. They do not take into account the nuances of your spending patterns and responsibilities. So, leave a little room for the unexpected, as well as the obvious new opportunities your home will give you to spend money, from furnishings, to landscaping, to repairs.
No matter how expensive your market though, we urge you to think carefully before stretching your budget quite so much.
Deciding how much you can afford should involve some careful attention to how your financial profile may change in the coming years. In the long run, your own peace of mind and security will matter most.
If you or your spouse suddenly became unemployed, would you be able to cover your mortgage and other expenses?
Would you be able to maintain your current lifestyle with your new mortgage payments?
Would you be able to pay your mortgage with the addition of a child?
Would you have money for emergencies (car troubles, broken heater)?
These are all things you need to think about when deciding to purchase a home. It is an investment into your future and you want to make a wise choice. To learn more about investing in real estate visit BostonWealthBuilders.com or schedule a no obligation consultation today!