Reply to $300k HHI- $6k monthly PITI- bad idea?

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Reply to "$300k HHI- $6k monthly PITI- bad idea?"

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[quote=Anonymous][quote=Anonymous]$300k HHI generally on an upward trajectory.  No debt.  2 kids with nanny plus preschool eating up about $3k/mo but both will be in public school in a couple years.  Contemplating buying a house that leaves me with $6k PITI.  Will be tight now but better once kids are in public school not to mention any income growth.  Anyone in similar position making it work or struggling?[/quote]

This was exactly us two years ago when we bought. Same HHI, took a mortgage with a monthly PITIA (A = association) of approx $5000.  2 preschool kids costing $3000/month.  No debt but send $500 to my parents each month. We saved a bit less (sad, because the market has been on fire since Trump has been in office) and tried to stick to a budget. Earlier this year DH got a  raise equating to $1200 gross per month, and kids are entering public K this fall, woohoo!

Overall it was tight but doable.  may have to cut back on retirement savings.  But I believe housing prices are only going up for a while so don't wait too long.[/quote]

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