Common Questions, Answered

That depends, of course—on your income and other financial obligations. Plug them into a Home Affordability Calculator for a ballpark figure, and do it before you start shopping. If you see houses you love outside your price range, it opens you up to disappointment. Meet with a lender to get pre-approved for a home loan.

Yes, you can — but it's the real-estate equivalent of walking a tightrope. If you buy a home before you sell the one you're in, you're overextended financially; if you sell before you buy, you might need to rent awhile before finding a new place. One option is a 'sale contingency' in your contract, meaning you only agree to buy a home if you can sell the one you're in. The downside is the seller may not agree if they want timing set in stone.