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(DC) Determining budget for a home.

Hi everyone,

This is probably a very basic question but I've seen so many different responses and wanted to see what criteria current homebuyers are using for determining their budget on a property. I'm in a high COL and competitive area (Washington DC) which is making it very difficult finding a property to begin with. I've read that the highest one should pay for their mortgage is 30% of gross pay per month. Is that to include everything associated with home mortgage (property taxes, homeowners issue, etc) or just the principle and interest?

submitted by /u/Corianderchi
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source https://www.reddit.com/r/RealEstate/comments/hj02au/dc_determining_budget_for_a_home/
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