What factors will determine the amount you can afford to spend for a home? a. income minus your other expenses c. your future income projections b. familial obligations and housing needs d. all of the above

The correct answer is D) all of the above.

The factors that will determine the amount you can afford to spend for a home are income minus your other expenses, your future income projections, and familial obligations and housing needs.

It is very important to consider these variables when buying a house because is going to plan your finances in the long run. You have to have in mind the money you will have in the future, so you need to project some scenarios. You could have a good job with a good salary at the moment, but maybe the situation will be different in 5 years. How are you going to pay for the house if you do not have that kind of salary in the years to come? Do not forget that there is going to be other necessary expenses like food, the education of your children, health care, and many others.

abraham lincoln