Reply to Confused about what we can afford.

Forum Index » Real Estate

Reply to "Confused about what we can afford. "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=AgentX][quote=Anonymous][quote=Anonymous]If you plan to move in 5 years, is there a reason you aren't interested in renting anymore?  It's a perfectly valid choice for all the reasons you listed.  If you don't have college savings I'm not sure I'd want to tie up all your liquid funds in a down payment and mortgage bills.[/quote]

I just want a freaking house and I know we can afford one.

DH wants an AMAZING house if we buy at all. I want any house that's fine.

I like our neighborhood and house and everything quite well, and it's a good financial spot to be in, but it's just feels emotionally wrong to me. Which is not rational I know. I also feel a little embarrassed about renting, but I'm not sure why when we make so much and are saving so much. [/quote]

Don't be embarrassed about renting! You would not believe how many Realtors are out there acting like they know everything about homeownership and they are renting. If it works for you, it works for you!

I wouldn't do the amazing house, I'm with you. First of all, you have a goal which is to move in 5-6 years. Don't buy something that may derail that goal, i.e. we love this house and now we're worried about leaving. But get something that checks most of the boxes so you can settle down in the way you envision. Second, you don't want to stretch for something when you've been living so comfortably for all these years. You will hate feeling like 3x your money goes to the house after the past.

To answer the first question about affordability, you'll likely get approved for up to 4x your income. With one child, you can do a 3 bedroom house without issue most likely and stay below $1M.

At the beginning of this madness, people were doing Adjustable Rates again, with terms that it won't change for 5 years. Now the ARMS aren't as good, so just shop around and see what you can get for an interest rate, and lock it 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