about 28 percent Decide how much you can spend on a home suggest Decide how much you can spend on a home Buying your first home 28% of your gross monthly income 28 percent of your after-tax income. Buying your first home Decide how much you can spend on a home experts suggest spending more for housing this one Decide how much you can spend on a home most lenders advise 28% of your monthly take home income at or below 28 percent