When current homeowners were asked about their buying experience, 49% had set a max purchase price and stuck to their budget. 19% of American homebuyers went over their budget and on average, exceeded it by over $31,000. 13% of homebuyers came in under budget, by an average of over $25,000. 20% did not have a budget at the time they purchased their current home.
Source: Pollara survey for BMO Harris Bank, April 2014.