I have something to add, go to a mortgage lender and ask them what they think you could afford. Before you are prequalified this will give you a general idea of what kind of house payment you could get. Then the very next month make a house payment to your savings account less the money for your current rent. After a couple of months of living without this money are you comfortable or could you pay more, or is it to much? While building a nice little saving account for a down paymant you will also find out if you can live without this money in your everyday budget. Also something no one has mentioned and I learned the hard way. You will need 1 year prepaid Homeowners insurnace, this is your fire, liability insurance that you will need to have to get a loan. I went to my first closing in 1976 and the realtor asked us the morning of the closing if we had an extra $800.00 for the house insurance? Of course we didn't and had to borrow from a family member. That didn't happen again. Best of luck!