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Reply to "What % of your monthly ne do you spend on housing PITI?"
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[quote=Anonymous]We have done that in the past. To me it depends a little on whether you expect to be at that income for the foreseeable future, or whether you have a decent expectation that over time the bite would become less. Also if you are a first time homeowner, you should consider that the mortgage interest deduction may give you real money back on your taxes (although that can be offset by increased maintenance on your home). Bottom line, I think it's a personal decision. Having been on both sides, I would say we did not mind being house poor for a while to get a house we really liked, but now that we have more flexibility in our budget we are even happier.[/quote]
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