You are asking how much rent you can afford and this varies depending on your current income and expenses. Most places will require a tenant to at least have an income of 3 times the monthly rent. However, if you are thinking of buying a property, I would recommend you contact your bank or a mortgage lender and they will be able to pre-qualify you. Again, it all depends on your income and your expenses. If you need help finding a mortgage broker I'll be happy to help.
Feel free to call me if you have any other questions.
I would call my lender, Michal Bander at Guaranteed Rate, 954-684-9277 I'm sure he can help you with that answer. Then I would go to my website and run the "Rent vs Buy" calculator to understand which is better for you.
This is a great question and as I tell all of my buyers when thinking of buying a home you should first consult with a mortgage professional to determine what price range will work for you. I would be happy to put you in touch with a mortgage banker Just email
Or call me with your contact info.
REALTORÂ® & Team Manager
The Tino Team
Access USA Realty, Inc.
The amount really depends on many factors; generally one needs to calculate the net monthly income after taxes; then subtract monthly expenses such as credit cards, any other loans, food/entertainment, miscellaneous expenses, etc.; see what's left over for rent without exceeding your monthly income.