One Million Dollar house...talk me out of it.

[Anonymous]

What about unanticipated expenses? What does your healthcare cover? We only have a $10 copay for everything bc we have Cadillac insurance. But my friends and family with deductibles and crummy insurance that is essentially a 60/40 split have racked up big medical bills. Is that a possibility? What if your car dies? Think about the heating and ac bills for a larger home.

[Anonymous]

It is reasonable to ask, but some posters were basically accusing them of stealing/ fraud (eg "buddy system")

The federal agency "Buddy System" is "stealing/fraud" only insofar as unqualified, inexperienced employess are hired and promoted, at taxpayer expense. It's not really about accusing OP of fraud, only that the facts she presented, her circumstances, are suspect.

It's highly unlikely, but not impossible, she and her DH enjoy the income she stated (from salary), at their ages, given the circumstances she's presented. I'm thinking trust fund, or troll, probably the latter.

Why would an anonymous poster hide or not disclose additional income, in a "can I afford this" thread?

[Anonymous]

What are buddy system abuses? Tried to google it but got nothing.

[Anonymous]

Anonymous wrote:What are buddy system abuses? Tried to google it but got nothing.

Disregard, think I've got my answer thanks to pp.

[Anonymous]

Anonymous wrote:I know federal jobs are secure, blah blah blah, BUT assuming one of you lost your job for some reason, how quickly could you replace it?

We have a 400k house on a 250k income for this reason - I'm not confident in how quickly I could replicate my income. if it were lost for any reason.

400K house?

Are you joking? Where can you find a decent house for 400K?

[Anonymous]

OP here, this thread is getting ridiculous. When I put up this thread, I knew that I would get criticism but just outright accusations of my DH and my integrity is so insulting. I refuse to address accusations of fraud, buddy systems etc.

Anyhow, I'd like to thank everyone who gave a perspective of their current situation that would potentially mirror mine had we actually bidded on the home and won. I think most are right when they say we should save at least more down payment because we're not getting anymore significant pay raises and some potential unforeseen bills involving both DS (this worries me a lot and really grounded me).

[Anonymous]

I would love to see the home.

[Anonymous]

Anonymous wrote:

Some agencies are paid based on a 50-hour work week and are paid accordingly.

BS. Everyone is paid according to the General Schedule, available at OPM.gov Overtime is sometimes authorized, but is paid in straight time, not time and a half, for professionals.

You have no idea what you're talking about. The FBI is paid based on a 50-hour work week, and thus agents makes 20% more than what's shown on the GS scale. Google it. If you start young and live in a high cost of living area, you can be a 14 or 15 in your 30s who is capped out. Maybe other agencies have similar idiosyncrasies--I don't know. I'm sure OP doesn't want everyone knowing where she works.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Some agencies are paid based on a 50-hour work week and are paid accordingly.

BS. Everyone is paid according to the General Schedule, available at OPM.gov Overtime is sometimes authorized, but is paid in straight time, not time and a half, for professionals.

You have no idea what you're talking about. The FBI is paid based on a 50-hour work week, and thus agents makes 20% more than what's shown on the GS scale. Google it. If you start young and live in a high cost of living area, you can be a 14 or 15 in your 30s who is capped out. Maybe other agencies have similar idiosyncrasies--I don't know. I'm sure OP doesn't want everyone knowing where she works.

Sorry, it's 25% more. Link is below. See #12. And feel free to apologize for being a know-it-all jerk.

https://www.fbijobs.gov/114.asp

[Anonymous]

Op people on this website usually bought their home long enough ago that you will get a lot of smug responses about how frugal they are. You just need to run the numbers for yourself.

[Anonymous]

OP,
Why don't you "live" on the amount that would have included the $1M mortgage. Try it for a few months-- put the difference between your current mortgage and the higher one in a savings account and see if you can do it. Keep track of your expenses on something like mint.com which tracks them all for you (linked to your accounts). The worst that happens is that you see that it's really hard but you have saved several months worth of extra $ in an account.

[Anonymous]

Anonymous wrote:OP,
Why don't you "live" on the amount that would have included the $1M mortgage. Try it for a few months-- put the difference between your current mortgage and the higher one in a savings account and see if you can do it. Keep track of your expenses on something like mint.com which tracks them all for you (linked to your accounts). The worst that happens is that you see that it's really hard but you have saved several months worth of extra $ in an account.

This is great advice.

[Anonymous]

This is a bad idea. How are you going to save for college? Are you maxing your retirement savings (TSP + Roth IRAs)? Your first goal should be those two things, not doubling your mortgage.

I also agree that your kids are young and if they were to develop special needs later on, you'd be in a difficult spot.

Also, I hear you saying it's in a better school district, but what about the one you are in? Is it really so awful that you need to move? If so, better that you look for something in the 700K range that is in a better district.

[Anonymous]

Anonymous wrote:

It is reasonable to ask, but some posters were basically accusing them of stealing/ fraud (eg "buddy system")

The federal agency "Buddy System" is "stealing/fraud" only insofar as unqualified, inexperienced employess are hired and promoted, at taxpayer expense. It's not really about accusing OP of fraud, only that the facts she presented, her circumstances, are suspect.

It's highly unlikely, but not impossible, she and her DH enjoy the income she stated (from salary), at their ages, given the circumstances she's presented. I'm thinking trust fund, or troll, probably the latter.

Why would an anonymous poster hide or not disclose additional income, in a "can I afford this" thread?

?? You obviously have too much time on your hands and, as other PPs have shows, you are ignorant of the various nuances of the GS system. I think you are the troll. OP, ignore this nasty, jealous poster.

[Anonymous]

Anonymous wrote:

We are not on a general pay scale but a special pay scale. We are also not GS-15s we are GS-14s. There are GS-15s being paid equivalently. This is beside the point and I don't want to get off topic.

You can't be on a "special pay scale" and be a GS-14 at the same time. You presented your circumstances and asked a question about what you could afford. Your circumstances are not off-topic. Two GS-14's in this area can make about 275K, maximum. Again, you are too young to be making that, barring serious abuse of the federal agency Buddy System. Is there additional income you haven't disclosed? Trust fund, or something else?

I'm curious, too.

Where are you getting your information from? Another pp mentioned Patent Examiner and I just looked it up on OPM. They can be GS-14's and on a special pay scale. They max out at 293K which is closer to 300K then your 275K. So stop talking out of your behind and prove your accusations next time. Because a person is too young in your eyes and you just assume they are not entitled. If you really have to ask where do they work and have to be so low as to accuse them of fraud in order to get ahead, perhaps you are in the wrong field of work.