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Real Estate
Reply to "Salary vs House Cost"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]OP, do a mortgage calculator. they will tell you can afford a house of about $1.4MM[/quote] OP here. Holy crap that is a lot of money. That cannot be right!!![/quote] We make over $300K and while we *technically* could afford a $1.4M house, we'd be really crunched. Instead, we put 20% down on an $850K house (well after 2003- and it's not large but certainly not a dump). We have some wiggle room with our expenses each month, but not a ton. If we were to increase our mortgage to near $1M, it would be really tight. I would never encourage someone with our income to buy that much house. [/quote]
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