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Reply to "How would you handle buying a SFH in this situation?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]No way I’d spend a million on that salary. Kids need college savings, activities, etc. they get. More expensive vs less. Sit tight. [/quote] Yeah it's a lot if we didn't put much down, but I would do at least 50%, maybe 60% if we used our current equity. With a 400k mortgage, our housing payment would only rise by ~$1250 give or take, maybe 1500 if you factor in maintenance and utility use being higher. We have plenty of room in our monthly budget as is, we live as if we made 150k not 250k. We just wouldn't save as much.[/quote] That $230 doesn’t include moving expenses. Your taxes and utilities will go way up. We make slightly more than you and you have no college savings and doing well on retirement but most of your savings is inheritance. I wouldn’t do it. With tech you can get fired with no notice. [/quote]
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