How Much Would You Spend on a House?
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Anonymous
| We are in our late 30s. Two kids (will do public but will have childcare costs b/c two working parents). ~$500K in retirement, $150K in 529s, ~$1 million in other investments/cash. Loans mostly paid off. Income has been between $500K and $900K in past few years. Could go up, but could also go down so not sure how to think about what we can afford. One other factor is that we anticipate having elder care expenses in the future. Again, not sure how much that will be. Thank you. |
Anonymous
| Cool story bro |
Anonymous
| 4milliom |
Anonymous
|
You make that much money and you still have loans?
Something isn't right here. |
Anonymous
| You're smart, you'll figure it out. |
Anonymous
| Enough to get into a good school district. |
Anonymous
| We are very similar to your situation. Spent $1.5m on house. $500k down payment. |
Anonymous
| $1.8 |
Anonymous
| one billion |
Anonymous
Right? We make half that and haven't carried loans, other than our house in YEARS. How does the OP make his waybout of a paper bag? |
Anonymous
Eh, we own four houses and still pay the minimum on my husband's last student loan. The interest rate is like 2%. |
Anonymous
Ehh. We have the same income and have some loans. They are at 1.7%. Why would we ever get rid of them? |
Anonymous
Because you owe someone money. |
Anonymous
So? We make far more by investing it. |
Anonymous
| Look in the $1.5-$2 range in a good school district. You'll have enough to make some updates if the house isn't perfect, but you won't be putting everything into the house. |