Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "Rule for buying house if you have net worth but not much HHI?"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous][quote=Anonymous]If you have a very high net worth just pay for the house in case or put down enough so that you can qualify for the mortgage with your income.[/quote] NP. Although I'm not opposed to paying for the house in cash, I think this is potentially very, very dangerous advice. For example, let's say OP has a HHI of $100k and she and her husband have accumulated $3M. It would be really stupid to buy a $3M house, putting down $2.8 in cash and taking a mortgage for $200k. Yes, she can afford the mortgage in that case, but they can not easily afford to pay the taxes, insurance, upkeep, updating costs (Grey Gardens?) and most importantly, lifestyle expectations of a $3M house. The best advice was the poster who said to consider what this high net worth is generating in cash flow, and make your plans on that. --personal stats: $250k HHI, $3.0M net worth including $500k paid off house. It's a very comfortable situation to be in. [/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
