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Reply to "Mortgage payment on 175 HHI "
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[quote=Anonymous]Hi Everyone, Just wondering if we are over extending ourselves on a home that we are planning to build (9 month build time) in the ideal location for us. Mortgage payment would be $3250 PITI (550k home with 27% down). Wife and I are 28 and no kids (plan to have kids in the near future) Current Total savings - Retirement savings - 125k Non Retirement savings - 150k Current Monthly savings - Retirement Savings - $1500 for me / $1250 wife (includes company match for both) Non-Retirement savings - $3500 Expect a upward trajectory in our HHI. Since we are planning on having kids in the near future, there will be childcare expenses (daycare+food+misc) we have to account for. This is my main concern - will we be able to afford our dream home and start a family in this home. Appreciate the help. [/quote]
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