Reply to Is this too much to spend on a house?

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[quote=Anonymous]Yes you can absolutely afford it without kids.

Our HHI is 300k and We are going to buy a house at 1.5M (with a higher deposit, close to 50%, only because we received inheritance that allows us to go from 20 TPE 50% down payment). Like you we max out retirement but we also have very good 529 savings for our 2 kids and have to deal with their expenses (easily 2k a month with after school, activities and cost of life and we don’t pay for private schools).

I know the inheritance part plays a role but even without we could have done it without being house poor. However, it is about life preferences and what you sacrifice for a nice house. Write your budget down, check how much you spend a month, how much your summer holidays cost etc.. and then decide. Only you will know the right answer.

I don’t buy luxury handbags or fly business or get 500$ spa treatments every months. I have friends who do all those things and yes, they don’t have the extra 3k a month for a bigger mortgage. Priorities.  [/quote]

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