I currently have a 1 bed 1 bath condo in northern va (lakefront/hardwood floor throughout): mortgage $137,695, purchase price in 2005 was $321,000, currently assessed at $253,850. My development now is full of bank owned/short sale condos so prices are going down. A comp same model condo is asking $259,000 but no lakefront and carpeted, otherwise all same upgrades as me. Single family homes in a good neighborhoods as low as $449,000 and up to $500,000′s is what I’m looking at (prices not seen here in a while). Me: gross income: $71,000, take home (net) a month: $3,168, liquid cash $8,000, no debt other than my mortgage (pay credit card in full each month and own my car), credit rating is excellent and I am a conservative guy by nature. I was planning on selling condo with hope of pulling out $100,000 to put into new place. Can I afford to buy a single family home on my own with these numbers and situation? Thanks.