I'm trying to figure out our house budget since we are planning to buy our first house next year. The thing is, we are planning to rent out the house after we move, so our budget is not based on our own income but on what we expect the majority of renters in that area to be able to afford. All the "calculators" online base prices on our income and expenses, but what I really need is to know roughly what price of house I can reasonably expect to purchase for around $1000 per month in Columbus, GA. What formula do I use to figure this out? I know it depends on a lot of things like credit scores, down payment, length of mortgage, but I really have no idea where to start here.
Read more: How much house can I afford? - 2
