I’ve been pre-approved for home loan and now debtating between getting a place to myself or getting one and sharing costs with a roommate. I’ve been approved for 0,000. Location is the Northern California, Bay Area. (Oakland area + 15miles such as alameda, emeryville, sf, etc) I only want to pay about 0-0 a month if by myself. if i have a room mate, we colectivly can afford ,100-,200. I do not know exactly what costs are associated with home owning. Media and food and etc need not be considered… just basic average costs for home owning in East Bay while staying at my target budgets
MY question is…
With taxes and what ever other costs may be for a 30year fixed and like a 4.8% interest rate… what is the full value of the house i am shopping for if i only want to make monthly payments as stated above? I know how much i can go up too, but do i want to use all 0,000 if i want my monthly to be at my target? What $ should i look to spend if i am looking solo and if i am looking with roommate?