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Real Estate
Reply to "Can we afford a monthly mortgage payment of $4900?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP here - monthly debt is student loans and car payment. We have no credit card debt. [/quote] The thrift police are at it again. We're in a similar income range, have the same debt, and also have no childcare (just $2500 a year for preschool). We could comfortably afford that mortgage while still saving for college, retirement, and home repairs, taking a vacation, shopping at Whole Foods, etc. We're pretty conservative with our money and spent a year watching where our money goes and sticking to a budget while we looked for a home. [/quote] You have just $2500 a year for preschool and no childcare payments and she has one child in full time daycare (my guess would be 1200-1800 a month) and since she is working will have ongoing childcare expenses (before/after care, camps etc). That's a big difference. I think a lot depends for OP on whether they are going to have another kid.[/quote] You're totally right. I get so lost in these threads that I forget who has childcare expenses and who doesn't. If we were paying for daycare or a nanny, we could not carry that much mortgage. I should have reread the OPs post before responding! [/quote]
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