How much was your HHI if you bought a $1M House

[Anonymous]

How much was your HHI if you bought a $1M house?

[Anonymous]

Bought a 1.2m home this year. HHI is consistently at least 410K, although last year it was 600K because of some outside consulting work my husband had and a big bonus that won't repeat itself. I make 160K and my husband makes 250K. We both have stable jobs that will only go up from here (although not by THAT much). I am 33 and DH is 37.

[Anonymous]

there is a whole thread on this in the real estate forum. Consensus seems to be that at least 250K prefrably 300K is the comfortable point for a $1M purchase.

[Anonymous]

We were around $250k and had $1M net worth before going in on a $1M home with about 30% down.

[Anonymous]

200k

[Anonymous]

500k with 425k down.

[Anonymous]

$850k

[Anonymous]

We were making $310 when we bought our $750 house. Now we are making $500-$600 and I wonder if we should have just gone for a nicer house years ago. But I also like our comfortable lifestyle and not feeling constrained by a big mortgage.

[Anonymous]

$400k income with $56 k in annual gifting from a set of parents. No debt.

[Anonymous]

$200K.

[Anonymous]

Anonymous wrote:$200K.

How'd you swing that?

[Anonymous]

Anonymous wrote:We were making $310 when we bought our $750 house. Now we are making $500-$600 and I wonder if we should have just gone for a nicer house years ago. But I also like our comfortable lifestyle and not feeling constrained by a big mortgage.

Ha! I beat you. We purchased a 475k house 8 years ago at an approx 375k income and now make ~510k. Our mortgage is paid off, kids education is paid off, every inch of our home is remodeled to our taste. The feeling of absolute financial freedom is incredible. We could lose our jobs and be unemployed for years and then pick one up for 100k and still live comfortably. Our biggest mandatory out of pocket expense are a tie between property taxes and groceries.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We were making $310 when we bought our $750 house. Now we are making $500-$600 and I wonder if we should have just gone for a nicer house years ago. But I also like our comfortable lifestyle and not feeling constrained by a big mortgage.

Ha! I beat you. We purchased a 475k house 8 years ago at an approx 375k income and now make ~510k. Our mortgage is paid off, kids education is paid off, every inch of our home is remodeled to our taste. The feeling of absolute financial freedom is incredible. We could lose our jobs and be unemployed for years and then pick one up for 100k and still live comfortably. Our biggest mandatory out of pocket expense are a tie between property taxes and groceries.[/quote


Where do you live? 475 is a good price. And how much is it worth now? A million?

[Anonymous]

Anonymous wrote:

Anonymous wrote:$200K.

How'd you swing that?

NP. We make $220K and we could swing that. We could save up the down payment. Instead, we bought a $620K house when we had an HHI of $130K. Now we're building an addition with the equity and our house is worth $700K. With the home equity loan payment, it will be like paying for a much more expensive house. We could have moved, but we like our neighborhood too much and this was more cost effective than tearing down.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We were making $310 when we bought our $750 house. Now we are making $500-$600 and I wonder if we should have just gone for a nicer house years ago. But I also like our comfortable lifestyle and not feeling constrained by a big mortgage.

Ha! I beat you. We purchased a 475k house 8 years ago at an approx 375k income and now make ~510k. Our mortgage is paid off, kids education is paid off, every inch of our home is remodeled to our taste. The feeling of absolute financial freedom is incredible. We could lose our jobs and be unemployed for years and then pick one up for 100k and still live comfortably. Our biggest mandatory out of pocket expense are a tie between property taxes and groceries.

New pp. really, ha I beat you? What are you five years old. The previous poster beats you in class.