There is no magical number to buy a house. If the house has all amenities you are looking for, it fits into your budget and area is also good then you can spend $131k. You should first ask the price of other houses which have same amenities in the area you are looking to buy a house. Compare price and then take the decision. If you are still not able to make a decision to buy a house, then you can take an advice of estate agent of your area.