First time you don't underestimate, you simply don't have a choice. Our first place that we bought we had a budget. The banks approved us for a loan based on ou

First time you don't underestimate, you simply don't have a choice. Our first place that we bought we had a budget. The banks approved us for a loan based on our income. And even with that we were looking for fixer uppers in specific areas because that is all we could afford. Now we are older, have a bit of equity, more liquidity, and overall more savvy. A fixer-upper is no longer in the cards. But it was an experience.