My suggestion is to speak with an accountant, financial planner or close family member or friend. Do a monthly budget and plan out how you will pay back your student loans if you buy the more expensive home. If you can leverage the debt, you might be able to afford that more expensive home with the larger down payment. If you can't, you might have to look at other options. You also need to take into account other expenses that may come up. Are you prepared for the unexpected? How stable is your employment? Finding a property that is perfect for home buyers has a lot to do with working within safe financial waters.
You should consider that you can have your cake and eat it too if you strike the right balance. A great realtor and a good financial advisor or accountant, maybe even a family friend can help you strike the right balance. If I can be of assistance with real estate or mortgage advice, please contact me at (973) 901-1900 or RBruckner31@gmail.com.
Robert Bruckner, Broker-Sales Associate
Coldwell Banker Residential Brokerage
Best of luck. Reach out to me with any questions.
Joseph S. Cordova NMLS# 146855
Evesham Mortgage, LLC
22 South Maple Avenue
Marlton, NJ 08053
office: (856) 985-9944 ext. 103
direct fax: (206) 333-0946
cell: (856) 304-2381