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Reply to "If your HHI is 200K, how much house would you buy?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I guess a better question is how big of a mortgage payment would you want? Sometimes I wonder if I am being too conservative and it is holding us back, but I am really fearful of being house poor. We have a HHI income of 200K. We have an infant in daycare ($1820) and student loans ($500). We put 15% into retirement and $1500 - 2K into savings each month. [b]I feel like we shouldn't get a mortgage payment over $2600 or so, but that is essentially what our rent is and we can still afford to put money into savings every month, so I know we could technically afford more. [/b] Do I need to let loose the purse strings? Would you feel comfortable with a higher mortgage payment? We plan on having another kid in three years (but hopefully our incomes will increase by then...or should I say IF our incomes increase we will have another kid). I work for the feds and he works for a large professional organization (both very stable jobs). TIA [/quote] It's not the same. You add the HOA fees and the inevitable housing maintenance costs, and the taxes that keep going up.[/quote] But most regular stand alone houses don't have HOA fees right? Or am I missing something?[/quote]
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