At odds with spouse ove how much house we can afford

[Anonymous]

Near Ballston metro, $959K, 4BR, 3.5 bath total reno with huge deck and yard:

http://www.redfin.com/VA/Arlington/851-N-Abingdon-St-22203/home/11244150

Bottom line, you're not looking hard enough, or you want too much.

[Anonymous]

my basic rule is that your total monthly house pymt (mortgage+PMI+taxes+insurance) should be no more than your monthly net income (after investing 20-25% in retirement). that's too extreme for most people but I sleep good at night. We also have insured that we can live off of only 1 income if need be.

[Anonymous]

OP, just bc you can comfortably afford 1.7m doesn't mean you should spend that much. ESPECIALLY in this economy. What happens if you or your husband loses employment? Become underemployed? What if you have unexpected medical expenses?

You can very easily find a great home for 1m and put away all of the extra that you would have spent on housing into savings.

[Anonymous]

Anonymous wrote:OP, just bc you can comfortably afford 1.7m doesn't mean you should spend that much. ESPECIALLY in this economy. What happens if you or your husband loses employment? Become underemployed? What if you have unexpected medical expenses?

You can very easily find a great home for 1m and put away all of the extra that you would have spent on housing into savings.

Also, I'll note another reason you shouldn't immediately shut down your spouse: the housing market keeps dropping. You spend 1.7m on a house today, next year it can be worth 1.4 or 1.5m.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP, just bc you can comfortably afford 1.7m doesn't mean you should spend that much. ESPECIALLY in this economy. What happens if you or your husband loses employment? Become underemployed? What if you have unexpected medical expenses?

You can very easily find a great home for 1m and put away all of the extra that you would have spent on housing into savings.

Also, I'll note another reason you shouldn't immediately shut down your spouse: the housing market keeps dropping. You spend 1.7m on a house today, next year it can be worth 1.4 or 1.5m.

maybe in baghadad! the DC housing market has been shooting through the roof due to tight supply good jobs and high incomes.

[Anonymous]

Those are some pretty old, small and ugly houses. I can see why the OP is not in a rush to buy one like that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, just bc you can comfortably afford 1.7m doesn't mean you should spend that much. ESPECIALLY in this economy. What happens if you or your husband loses employment? Become underemployed? What if you have unexpected medical expenses?

You can very easily find a great home for 1m and put away all of the extra that you would have spent on housing into savings.

Also, I'll note another reason you shouldn't immediately shut down your spouse: the housing market keeps dropping. You spend 1.7m on a house today, next year it can be worth 1.4 or 1.5m.

maybe in baghadad! the DC housing market has been shooting through the roof due to tight supply good jobs and high incomes.

Don't buy the hype from realtors and banks. They are looking to create another housing bubble in DC.

The market appears to be increasing but it's largely temporary for a variety of reasons. 1) banks have decreased foreclosure proceedings for the time being. 2) investors have been buying up extra properties to convert into rentals... this is temporary, and not a permanent fixture. 3) ppl who would otherwise sell can't do so because they bought at the top of the market and can't get their investment back.

Prices need to continue increasing through the fall and spring (they already dropped off last month w seasonal adjustments) in order for it to be the beginning of a true recovery. It's just not happening. & again, remember that they are are a lot of houses still in limbo awaiting foreclosures or near it.

Anyone with half a brain will be conservative.

[Anonymous]

Anonymous wrote:Those are some pretty old, small and ugly houses. I can see why the OP is not in a rush to buy one like that.

Are you fucking serious? What a damned insufferable snob you are. I hope all you snobs stick together for friendship; as a mere mortal I don't want to know you. Your comment absolutely disgusts me.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Those are some pretty old, small and ugly houses. I can see why the OP is not in a rush to buy one like that.

Are you fucking serious? What a damned insufferable snob you are. I hope all you snobs stick together for friendship; as a mere mortal I don't want to know you. Your comment absolutely disgusts me.

I viewed some of the houses linked. I live in a suburban area of Minnesota. I live in a brand new home (built 2005) that is actually more spacious than most listed, certainly newer, over 3000 sq ft with 5 bedroom, 3 bath ... and paid $389,000 for it. It is incomprehensible to me, the cost of real estate in DC area. I hadn't realized when I read the OP that $1.7 million in DC would be equivalent to around $400,000 where I'm from. Salaries have got to be much higher there. We'd never be able to afford a million dollar home, and from the looks of homes in that price range, they'd be a huge step down for us, too.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Those are some pretty old, small and ugly houses. I can see why the OP is not in a rush to buy one like that.

Are you fucking serious? What a damned insufferable snob you are. I hope all you snobs stick together for friendship; as a mere mortal I don't want to know you. Your comment absolutely disgusts me.

I viewed some of the houses linked. I live in a suburban area of Minnesota. I live in a brand new home (built 2005) that is actually more spacious than most listed, certainly newer, over 3000 sq ft with 5 bedroom, 3 bath ... and paid $389,000 for it. It is incomprehensible to me, the cost of real estate in DC area. I hadn't realized when I read the OP that $1.7 million in DC would be equivalent to around $400,000 where I'm from. Salaries have got to be much higher there. We'd never be able to afford a million dollar home, and from the looks of homes in that price range, they'd be a huge step down for us, too.

Do you know what board you are on? DCUM. Washington DC, dipshit. Almost any single family home or townhome that is close-in to the city of DC is going to be older. We don't raze older homes to the ground here because the city has history, character and charm. Whoop de fucking doo for you that you live in a new McMansion in Sprawlsville, but I don't really see how your opinion on any of this matters if you don't know shit about Washington DC's real estate market, cost of living, or its housing stock. So shut up already. You really shouldn't speak about something you know nothing about.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Those are some pretty old, small and ugly houses. I can see why the OP is not in a rush to buy one like that.

Are you fucking serious? What a damned insufferable snob you are. I hope all you snobs stick together for friendship; as a mere mortal I don't want to know you. Your comment absolutely disgusts me.

I viewed some of the houses linked. I live in a suburban area of Minnesota. I live in a brand new home (built 2005) that is actually more spacious than most listed, certainly newer, over 3000 sq ft with 5 bedroom, 3 bath ... and paid $389,000 for it. It is incomprehensible to me, the cost of real estate in DC area. I hadn't realized when I read the OP that $1.7 million in DC would be equivalent to around $400,000 where I'm from. Salaries have got to be much higher there. We'd never be able to afford a million dollar home, and from the looks of homes in that price range, they'd be a huge step down for us, too.

Do you know what board you are on? DCUM. Washington DC, dipshit. Almost any single family home or townhome that is close-in to the city of DC is going to be older. We don't raze older homes to the ground here because the city has history, character and charm. Whoop de fucking doo for you that you live in a new McMansion in Sprawlsville, but I don't really see how your opinion on any of this matters if you don't know shit about Washington DC's real estate market, cost of living, or its housing stock. So shut up already. You really shouldn't speak about something you know nothing about.

Sorry we were saddened by this as well and tore down an old house to build a new one. You can't polish a turd.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Those are some pretty old, small and ugly houses. I can see why the OP is not in a rush to buy one like that.

Are you fucking serious? What a damned insufferable snob you are. I hope all you snobs stick together for friendship; as a mere mortal I don't want to know you. Your comment absolutely disgusts me.

I viewed some of the houses linked. I live in a suburban area of Minnesota. I live in a brand new home (built 2005) that is actually more spacious than most listed, certainly newer, over 3000 sq ft with 5 bedroom, 3 bath ... and paid $389,000 for it. It is incomprehensible to me, the cost of real estate in DC area. I hadn't realized when I read the OP that $1.7 million in DC would be equivalent to around $400,000 where I'm from. Salaries have got to be much higher there. We'd never be able to afford a million dollar home, and from the looks of homes in that price range, they'd be a huge step down for us, too.

Do you know what board you are on? DCUM. Washington DC, dipshit. Almost any single family home or townhome that is close-in to the city of DC is going to be older. We don't raze older homes to the ground here because the city has history, character and charm. Whoop de fucking doo for you that you live in a new McMansion in Sprawlsville, but I don't really see how your opinion on any of this matters if you don't know shit about Washington DC's real estate market, cost of living, or its housing stock. So shut up already. You really shouldn't speak about something you know nothing about.

Watch your language, lady!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Those are some pretty old, small and ugly houses. I can see why the OP is not in a rush to buy one like that.

Are you fucking serious? What a damned insufferable snob you are. I hope all you snobs stick together for friendship; as a mere mortal I don't want to know you. Your comment absolutely disgusts me.

Whoa, there big girl, tame your potty mouth. Get out the soap.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, just bc you can comfortably afford 1.7m doesn't mean you should spend that much. ESPECIALLY in this economy. What happens if you or your husband loses employment? Become underemployed? What if you have unexpected medical expenses?

You can very easily find a great home for 1m and put away all of the extra that you would have spent on housing into savings.

Also, I'll note another reason you shouldn't immediately shut down your spouse: the housing market keeps dropping. You spend 1.7m on a house today, next year it can be worth 1.4 or 1.5m.

maybe in baghadad! the DC housing market has been shooting through the roof due to tight supply good jobs and high incomes.

Don't buy the hype from realtors and banks. They are looking to create another housing bubble in DC.

The market appears to be increasing but it's largely temporary for a variety of reasons. 1) banks have decreased foreclosure proceedings for the time being. 2) investors have been buying up extra properties to convert into rentals... this is temporary, and not a permanent fixture. 3) ppl who would otherwise sell can't do so because they bought at the top of the market and can't get their investment back.

Prices need to continue increasing through the fall and spring (they already dropped off last month w seasonal adjustments) in order for it to be the beginning of a true recovery. It's just not happening. & again, remember that they are are a lot of houses still in limbo awaiting foreclosures or near it.

Anyone with half a brain will be conservative.

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, just bc you can comfortably afford 1.7m doesn't mean you should spend that much. ESPECIALLY in this economy. What happens if you or your husband loses employment? Become underemployed? What if you have unexpected medical expenses?

You can very easily find a great home for 1m and put away all of the extra that you would have spent on housing into savings.

Also, I'll note another reason you shouldn't immediately shut down your spouse: the housing market keeps dropping. You spend 1.7m on a house today, next year it can be worth 1.4 or 1.5m.

maybe in baghadad! the DC housing market has been shooting through the roof due to tight supply good jobs and high incomes.

Don't buy the hype from realtors and banks. They are looking to create another housing bubble in DC.

The market appears to be increasing but it's largely temporary for a variety of reasons. 1) banks have decreased foreclosure proceedings for the time being. 2) investors have been buying up extra properties to convert into rentals... this is temporary, and not a permanent fixture. 3) ppl who would otherwise sell can't do so because they bought at the top of the market and can't get their investment back.

Prices need to continue increasing through the fall and spring (they already dropped off last month w seasonal adjustments) in order for it to be the beginning of a true recovery. It's just not happening. & again, remember that they are are a lot of houses still in limbo awaiting foreclosures or near it.

Anyone with half a brain will be conservative.

+1

This time around it's different because everyone has to put money down and rules are much stricter so the gains are not a bubble. It is estimated that real estate will increase 3-5% each year in the DC metro area. Also note that this is a conservative estimate.

Washington DC 1.08% 4.35% 4.32% 3.72% 8.04%

http://investing.businessweek.com/research/stocks/news/article.asp?docKey=600-201210300958PR_NEWS_USPRX____NY02548-1¶ms=timestamp%7C%7C10/30/2012%209:58%20AM%20ET%7C%7Cheadline%7C%7CHome%20Prices%20Continued%20to%20Rise%20in%20August%202012%20According%20to%20the%20S%26P/Case-Shiller%20Home%20Price%20Indices%7C%7CdocSource%7C%7CPR%20Newswire%7C%7Cprovider%7C%7CACQUIREMEDIA%7C%7Cbridgesymbol%7C%7CUS;MHP&ticker=MHP