Ask Jennifer: Buying a Home

Jennifer Lane of Compass Planning answers your financial questions.

It's Tuesday, and it's time to Ask Jennifer.

Certified financial planner Jennifer Lane of Compass Planning joins NECN to answer your financial questions.

"I looked all summer for a house but the prices were more than I wanted to spend. I'd like to move out of my parent's basement ASAP. How do I figure out how much I can afford for a new condo?" asked Pat in Danvers, Massachusetts.

"You really want to keep your total housing cost under 30 percent of your pay, and that's super tough for anybody, and especially for a new person who's young and trying to get out of the basement," said Jennifer. "Don't buy until you're really settled."

If you have a financial question for Jennifer, send it to! She may answer it on air.

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