Would you buy a $1.2M house on this HHI?

[Anonymous]

sure

[Anonymous]

I probably wouldn't. That's about $4.5k/mo. to service the mortgage, which I would not be comfortable with at that income. If I absolutely loved the house, AND my job was not only very secure and also had realistic room for significant salary growth (like another 50k+ within a couple years), I would consider it.

[Anonymous]

Anonymous wrote:I probably wouldn't. That's about $4.5k/mo. to service the mortgage, which I would not be comfortable with at that income. If I absolutely loved the house, AND my job was not only very secure and also had realistic room for significant salary growth (like another 50k+ within a couple years), I would consider it.

But with the $3k/month in extra income it's absolutely doable.

[Anonymous]

You can afford it. Considering you're putting down 20% you could always easily downsize if someone lost a job long term.

[Anonymous]

Seriously, what's your passive income of $3k/month. Would love to know.

[Anonymous]

Anonymous wrote:Seriously, what's your passive income of $3k/month. Would love to know.

Yes, this. I'm assuming rental income especially the expected increase in the future?

[Anonymous]

Only buy a house on one income.

[Anonymous]

You can afford it but it really depends on your other spending priorities and savings goals.

Our priorities right now are doing things with our kids and their expenses. It is expensive, but totally our choices. We have that mortgage and income level. We have to think about what we spend in other areas.