Start with the housing payment you can comfortably afford, not a townwide price statistic. For your purchase, I would establish that boundary before narrowing the search so each home gets a useful financial review.
The latest market report covers Lakewood single-family homes, condos, townhomes and apartments. The typical sale price was $565,000. The typical asking price among homes listed for sale was $525,000. These asking and sale prices describe listed and sold groups, not a discount available on a particular home.
Neither price tells you what monthly payment fits your finances or how much money you need at closing. I suggest separating your lender's approval amount from the payment you actually want to manage. That distinction gives your search a personal financial boundary rather than a townwide target.
Ask your lender for a payment estimate that includes applicable taxes, insurance and any required association fees. Prepare a separate estimate of the money needed at closing and the savings you want to retain afterward. Then review homes with me against both limits before deciding whether their features justify the total cost.
