Reply to What would you spend monthly (PITI) for a house given our income/expenses?

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[quote=Anonymous][quote=Anonymous]We're thinking about buying a house in the near future and we're having problems figuring out our housing budget.  Our monthly net income is about $11,000.  Not counting rent, our monthly expenses are about $2100.  No kids right now, but we'll have to pay for daycare (and other kid-related expenses) once we have kids.  We're trying to find the right balance between buying too little house and too much house.

Any thoughts?  Thanks![/quote]

Incomplete info.  If you have $3mm in cash sitting around, that is different from if you have $6,700 hidden in your sock drawer, to use as a deposit/down payment, or full pay in cash, right? You need to ask if BOTH of you will continue to work, and, how stable each income stream will be in, say, 3 years.  Can you swing a mortgage on 1 income? In general, most people buy right to and against the max they can afford.  Also, as another poster noted...$2,100 in expenses?!?!?!?!  For only 2 people? I am stunned.  The two of you have 90 meals in a month(30 days x 2 people x 3 meals a day); if you divide the $2100 by 90, you get $23.33 per person, per meal.  That sounds like nothing to me...and that assumes no rents, no utilities, no medical/dental, no entertainment, no travel, no nothing.  Your HHI pre tax is very close to $200K, if not over.  It also comes down to, what are you willing to live in, or, require as a minimum to live in?[/quote]

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