If I make $120k base and have 50k for down payment, what should the house price be?

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“How much can I afford a house”

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https://lmgtfy.com/?q=how+much+house+can+i+afford

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As low as you can comfortably live in. Don’t be a sucker and get strapped with a huge mortgage just because you can technically afford it

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Of course, you don’t want to be kicking yourself for years because you bought less house than you need. I don’t think that’s the problem for most people on this forum though

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$2-3m king

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You RE agent will tell you $1mil

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<$400K but depends on what your other expenses are and how much you’re willing to pay in mortgage each month

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I was thinking about the same

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Depends on what your other expenses and debt are.

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Monthly expenses 2000

Don't forget closing costs - so if you have $50k, you really have about $40k for down payment - which puts you around $200k property if you want to avoid PMI.

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The general rule of thumb is roughly a limit of 3-4x your annual salary, I believe. But a lot of it depends on your credit, liabilities, etc

Was in a similar situation and bought a home around $420k

Probably not, but I’m not sure. It’d be within the margins. I live in a semi-high property tax state, which is a real killer on home property ROI. At this point I have a handful of stocks that have more value than my home equity, part of what I meant when I said the burden is much much smaller now. It was a big financial project then, now I hardly think about it.
Of course if the market hadn’t boomed the past 7 years things could easily have gone the opposite way and my home would be my most valuable asset I suppose. But I guess in either case the precise financial burden of the home price still does not have that much impact IMO at this range (300-500k). The big thing is maintaining (and increasing) your income.

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And these days mortgage companies are suggesting 25% down to secure good rates.. so 200K. You salary is good though, maybe try to save more this year then buy?

28% of your take home after taxes.

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