One of the most important steps to take while house hunting is to create an intentional budget that accounts for both upfront costs and recurring expenses. Doing so will help you find a home that meets both your lifestyle needs and financial situation. Here’s how:1. Assess What You Can Afford: A common way to generally estimate the price range of a home you can afford is to multiply your annual gross income (what you earn before taxes) by three to five, according to Fidelity. Understand that mortgage rates will have a big impact too. Lower rates can substantially increase your purchasing power. Lenders set an interest rate for each person based on several factors, such as credit score. A higher credit score could mean a lower interest rate or better loan term.2. Account for Upfro
