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Reply to "Question about CC/Bethesda real estate"
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[quote=Anonymous]I don’t understand the following and would love insight. I’m a divorced mom of two “stuck” in a house in a school district where I’ve had less than good experiences. I’ve been looking at Kensington (closer to Connecticut), CC, Bethesda for years. From everything I read on here, it seems like my annual income is in alignment with much of the socio-economic demographic who lives in those areas. However, there is no way I could buy a $1.5M house and stay within an affordable monthly mortgage since even an $800K house would be well above $5K/month. Besides people’s parents giving them a down payment, how are others making this work? I pay for everything for the kids so please be kind as I am also trying to reduce my commute now that I have to come to the office more. Current annual comp: $650K Monthly gross income: $18-20K 28/36 rule: $5Kish / month mortgage Current home value: $590K Remaining mortgage: $470K Current monthly mortgage: $2800[/quote]
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