It isn’t OK to overspend on housing

I recently read an article about how home buyers will go over budget for a house with enough space in the “right” neighborhood.

Dormeneighborhood. For most people, part of what makes a house perfect is the location.

Spending too much on a house has a long-lasting impact. We call it being house poor and being house poor will color every aspect of your life.

Overspending a little happens. Those who overspend by a lot regret it.

People who buy more affordable houses have some flexibility and an easier time to get through job losses and life changes.

Houses need to be maintained which can be hard to afford when the budget is already stretched.

Set a limit when house hunting and stick to it. Your older self will thank you for that. There is no perfect nieghborhood or location or house.

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