I take it you've decided that number based on some payment affordability equation. I would like to submit the following items that could expand or decrease the purchase price and still fit into your budget:
Available Housing Grants
Special Tax Zone incentives
Bottom Line: you could get more, if you are working with a professional mortgage consultant. If your mortgage representative did not explore these options with you be first understanding what your needs and limitations are, you may miss a great opportunity to get what you want and afford it!
Call for a free consultation.
1) I can provide you a free software search service called ListingBook which covers every property on Long Island, Queens, Brooklyn, Manhattan that are listing with the Board of Realtors. In that way, you can control your search and change it at will to have all the answers to all of your questions. To get you started, I need only first name, last name and an email address...after that, it's in your hands.
2) In addition to your question, as first time buyers, do not even begin to look until you have a FULLY Pre-Approval from A LENDER that is contingent only upon a contract and an appraisal. Anything less than that and you may be spinning your wheels.
If you wish to discuss any of the above, feel free to contact me at 631-425-6150 or Gail@GailGladstone.com.