Should I buy this house?

I'm considering buying a house closer to where I work. It's 125,000. After everything is paid monthly i'll have about $200 - $400 dollars left over. I'll have to tighten the belt a lot but I feel I can make this work. I have no debt (paid off my student loan a few months ago), and only have a modest... show more I'm considering buying a house closer to where I work. It's 125,000. After everything is paid monthly i'll have about $200 - $400 dollars left over. I'll have to tighten the belt a lot but I feel I can make this work. I have no debt (paid off my student loan a few months ago), and only have a modest debt on my Credit Cards that probably totals about $150 monthly as reoccurring subscriptions for cell phone use and sling TV and car insurance.
Also, after hurricane Florence, I've been living with my parents and it is time to move out again.
So here's my question, should I guy this house with so little left over or wait for something a little cheaper?
Update: so after all my monthly bills are paid, i'll have about $400 left over. Currently I have about $7,000 in savings, and I'll have to buy a fridge, washer and dryer.
Update 2: I already qualified.
Update 3: but like someone already pointed out, I'll only have about $400 dollars left over.
21 answers 21