"Can I Actually Afford This?" — Answering the Question Every Buyer Really Wants to Ask

After nearly a decade of helping families buy and sell homes right here in Pensacola, I can tell you that the question I get asked more than any other is, “Terry, how much does it cost to buy a house?”

And every single time someone asks me that, I hear what they’re really saying underneath it: Can I actually do this? Can my family afford this? That’s the real question — and it’s one I take to heart, because I know how much is riding on the answer.

So today, let’s talk about it honestly. No jargon, no pressure, no sales pitch. Just me, sitting across the table from you, walking you through what I’d tell my own family.

First — you’re not alone in wondering

I want you to know something: every single buyer I’ve ever worked with has had this exact feeling. The fear that maybe this is too big, too complicated, or just not the right time. Nationally, nearly 40% of people planning to buy a home this year worry they won’t be able to keep up with the payments. If that’s you, please hear me when I say — that worry means you’re thoughtful, not timid. And thoughtful buyers make great homeowners.

What I’ve found in my years working with buyers — military families relocating to NAS Pensacola, young couples buying their very first home, retirees finally making the move to the Gulf Coast they always dreamed of — is that most people are closer to ready than they think. They just need someone to help them see the full picture clearly.

So, what does it actually cost to buy a home in Pensacola right now?

Here’s where I get to give you some genuinely good news about our market right now:

What those numbers mean in everyday terms is that this is actually a moment where buyers have more breathing room than they’ve had in several years. Sellers are negotiating. Sellers are contributing to closing costs. Sellers are offering to help buy down your interest rate. That’s a very different world than 2021, when buyers were waiving inspections and writing love letters just to be considered.

Let me break down the real costs

About those interest rates…

I know 6.4% sounds high if you’ve heard stories about 3% mortgages a few years back. But here’s what I tell the buyer who brings this up: in our market right now, you have negotiating power you simply didn’t have then. You can often get a seller to buy your rate down. And when rates do eventually come down — and historically, they do — you can refinance. There’s a saying in real estate that condenses this thought:

And here’s the thing: every month you wait, you’re paying rent that builds someone else’s equity — not yours. There is no “perfect” moment. There is only your moment, and I’m here to help you figure out if this is it.

My promise to you

When I work with a buyer, I’m not thinking about a commission check. I’m thinking about you sitting around your own table at Thanksgiving. I’m thinking about your kids having a backyard. I’m thinking about what it’s going to feel like when I hand you those keys — because that moment never, ever gets old for me, no matter how many times I’ve done it.

My clients become family. I’ve had people call me years after closing just to say how much they love their home. That means more to me than anything else in this business. So if you’re sitting there wondering “Can I really do this?” — I want you to call me. Let’s figure it out together, no pressure, no rush. That’s what family does.