Reply to Did you buy a house that stretched your budget? Was it worth it?

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[quote=Anonymous]DW and I are looking at homes.  We found one that we really love that is in a good school district.  We have 2 kids but no daycare costs (thanks to 2 sets of young, retired and local grandparents!).  We have enough for the down payment, but would need to save aggressively to build back an emergency fund.  It would stretch our budget a bit for now, but expect our salaries will increase with time (I'm 33, DW is 33).  Instead of saving $7k per month (post-retirement), we'd be saving $3.5k a month.  I suppose if we bought a smaller house, we'd be saving closer to $4.5k a month, but we would probably move again in 5-10 years to a bigger home.

So, looking for experience (positive and negative) of those who stretched their budget a bit to get the nicer house.  Were you able to tighten the budget a bit for the first few years? Was it worth it?

FWIW, we don't plan to ever leave the area (family and careers are DC-based) and live in a very small started home now (900 sq feet) and need more space.  [/quote]

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