If you’re like most Americans, your monthly mortgage payment will be among your biggest bills. That’s why it’s important for prospective home buyers to crunch the numbers before shopping for a house. Knowing how much you can comfortably afford will help you avoid buying a house that causes you financial stress. And these days, that’s a factor. The pandemic has led to more economic uncertainty and it has a lot of us thinking about our bills. For example, in one recent survey, nearly 50 percent of participants said they’ve worried about their house payment during the past month. And those worries – along with increasing opportunities for remote work – have many of us looking to move somewhere more affordable. In fact, the same survey found 45 percent of respondents considering a move to a less expensive area. It’s a common theme, lately. Since the beginning of the pandemic, many surveys have found a growing number of Americans interested in moving to smaller metros, suburbs, exurbs, and anywhere else they can get more house for their money. (source)
