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Buying too much house?

We are looking to relocate by end of year across the country, and when selling will have a good chunk of equity to work with. My question is: if we put down the 15-20% recommended, does the equity open up higher priced options for us to look into?

For instance, if we sell for 320k, would it be insane to look at a home for 400k on the dot? I know this requires more info on our finances to give a good answer, but to give an idea, our mortgage is $1500/mo and could afford stretching that out a few hundred more.

I don’t have much interest breaking down all finances, as my car is paid off and getting all the other numbers right now would be a bit much (getting our house ready to sell today)

But, does anyone ever put the equity aside, and slow drip off of that? I’m not sure our options here so just looking to open our point of view to possibilities out there. All advice welcome, thanks!

submitted by /u/AjieBeats
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source https://www.reddit.com/r/RealEstate/comments/156k2n7/buying_too_much_house/
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