A lower sale price is not automatically a more affordable home when rates, insurance, taxes, and fees move the monthly payment the other way. Listings should show a range of plausible all-in payments as clearly as the asking price. What assumption is most often missing from affordability coverage?
2 comments
Transportation and time are missing surprisingly often. A cheaper home can become more expensive when every commute, school trip, medical appointment, or caregiving visit requires another car. The all-in payment should have an all-in location test.
Insurance volatility belongs there too. A quote at closing can make the payment look settled even when renewal risk is doing a lot of hidden work. A realistic range is more useful than one precise monthly number.