Buying $1.5 million home - can we afford it?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Maybe I'm simple minded because I'm not from dc and live in a simple, small town. But what does a $1.5 million home have to offer that a $750,000 home doesn't? It just seems so downright silly to me. You obviously have some concerns if you need to seek out advice on this. So why would you spread yourself thin over what, the difference in moldings? Heated floors in the garage? A gazing pool? What of these material things could possibly justify it?

A $750,000 house here is a tear down. $1.5 won't be anything too fancy either. It's probably very similar to the $600,000 house where you live.

+1

Well if that's true, who needs all that? So silly. A $600K home is not "tear down," it's unnecessary nonsense luxuries. Maybe certain people just have different priorities, I guess. Mine isn't being house-poor to look good to all my friends.

Who said anything about being house poor? That's just something that people who are jealous have made up. Where I live, there aren't $600k SFH. They just don't exist. People who want and can afford $1.5 million houses year down the $750k houses all the time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Maybe I'm simple minded because I'm not from dc and live in a simple, small town. But what does a $1.5 million home have to offer that a $750,000 home doesn't? It just seems so downright silly to me. You obviously have some concerns if you need to seek out advice on this. So why would you spread yourself thin over what, the difference in moldings? Heated floors in the garage? A gazing pool? What of these material things could possibly justify it?

A $750,000 house here is a tear down. $1.5 won't be anything too fancy either. It's probably very similar to the $600,000 house where you live.

+1

Try $300,000

Show me a house that's new, 5-6,000 sq feet and $300k?

[Anonymous]

Anonymous wrote:Maybe I'm simple minded because I'm not from dc and live in a simple, small town. But what does a $1.5 million home have to offer that a $750,000 home doesn't? It just seems so downright silly to me. You obviously have some concerns if you need to seek out advice on this. So why would you spread yourself thin over what, the difference in moldings? Heated floors in the garage? A gazing pool? What of these material things could possibly justify it?

Yeah, it's pretty clear you're not familiar with the DC market. Spend a few minutes on Redfin, and you'll see what's at each price point very quickly.

A $1.5M house in the DC area is likely to be built within the past 5-10 years, have all modern systems, open floor plan, and be around 3500-6000 square feet on a 1/4 to 1/2 acre lot. A $750K house was probably is probably 25-50 years old, requires a lot more age-related maintenance, is probably 1500-3000 square feet, and is probably a ranch, split foyer, Cape Cod, or split level. Our 1955 3 br/3 bath ranch cost $500K.

The big thing a $1.5M house buys you is a much shorter commute to DC, if that's where you work. Difference between a 20 minute commute each way and 1 hour plus. Even places that, on a map, are less than 20 miles out of DC can have a horrific, hour-plus commute.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Maybe I'm simple minded because I'm not from dc and live in a simple, small town. But what does a $1.5 million home have to offer that a $750,000 home doesn't? It just seems so downright silly to me. You obviously have some concerns if you need to seek out advice on this. So why would you spread yourself thin over what, the difference in moldings? Heated floors in the garage? A gazing pool? What of these material things could possibly justify it?

A $750,000 house here is a tear down. $1.5 won't be anything too fancy either. It's probably very similar to the $600,000 house where you live.

+1

Try $300,000

Show me a house that's new, 5-6,000 sq feet and $300k?

A couple of years ago we came thisclose to buying a brand new 5bd/3.5 bath, 3500 SF house in South Carolina for less than $300k. It's not unusual in many parts of the country, it just wouldn't happen here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Maybe I'm simple minded because I'm not from dc and live in a simple, small town. But what does a $1.5 million home have to offer that a $750,000 home doesn't? It just seems so downright silly to me. You obviously have some concerns if you need to seek out advice on this. So why would you spread yourself thin over what, the difference in moldings? Heated floors in the garage? A gazing pool? What of these material things could possibly justify it?

A $750,000 house here is a tear down. $1.5 won't be anything too fancy either. It's probably very similar to the $600,000 house where you live.

+1

Well if that's true, who needs all that? So silly. A $600K home is not "tear down," it's unnecessary nonsense luxuries. Maybe certain people just have different priorities, I guess. Mine isn't being house-poor to look good to all my friends.

Who said anything about being house poor? That's just something that people who are jealous have made up. Where I live, there aren't $600k SFH. They just don't exist. People who want and can afford $1.5 million houses year down the $750k houses all the time.

Let's be real. If the OP is asking if she can afford it, if they buy it, they're going to be house poor.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Maybe I'm simple minded because I'm not from dc and live in a simple, small town. But what does a $1.5 million home have to offer that a $750,000 home doesn't? It just seems so downright silly to me. You obviously have some concerns if you need to seek out advice on this. So why would you spread yourself thin over what, the difference in moldings? Heated floors in the garage? A gazing pool? What of these material things could possibly justify it?

A $750,000 house here is a tear down. $1.5 won't be anything too fancy either. It's probably very similar to the $600,000 house where you live.

+1

Try $300,000

Show me a house that's new, 5-6,000 sq feet and $300k?

A couple of years ago we came thisclose to buying a brand new 5bd/3.5 bath, 3500 SF house in South Carolina for less than $300k. It's not unusual in many parts of the country, it just wouldn't happen here.

Yes in many non urban parts brand new huge homes are around $300k. Though unless you are doctors jobs can be a real impediment.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Maybe I'm simple minded because I'm not from dc and live in a simple, small town. But what does a $1.5 million home have to offer that a $750,000 home doesn't? It just seems so downright silly to me. You obviously have some concerns if you need to seek out advice on this. So why would you spread yourself thin over what, the difference in moldings? Heated floors in the garage? A gazing pool? What of these material things could possibly justify it?

A $750,000 house here is a tear down. $1.5 won't be anything too fancy either. It's probably very similar to the $600,000 house where you live.

+1

Try $300,000

Show me a house that's new, 5-6,000 sq feet and $300k?

Somewhere other than the DC area ? take your pick - just about anywhere.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Maybe I'm simple minded because I'm not from dc and live in a simple, small town. But what does a $1.5 million home have to offer that a $750,000 home doesn't? It just seems so downright silly to me. You obviously have some concerns if you need to seek out advice on this. So why would you spread yourself thin over what, the difference in moldings? Heated floors in the garage? A gazing pool? What of these material things could possibly justify it?

A $750,000 house here is a tear down. $1.5 won't be anything too fancy either. It's probably very similar to the $600,000 house where you live.

+1

Try $300,000

Show me a house that's new, 5-6,000 sq feet and $300k?

Somewhere other than the DC area ? take your pick - just about anywhere.

And no snow! Though PP said 3500 sq ft -- 5000 sq ft will be more than $300k almost anywhere.

https://www.redfin.com/FL/Land-O-Lakes/4231-Mount-Bandon-Dr-34638/home/107305348