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Reply to "Can I afford a 1.8M house?"
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[quote=Anonymous]We have a similar income. We are hoping we could afford that much. In all honesty that much is a modern home in a good location. We don’t do private but an astounding amount for kids activities and we are now paying half for college since we only saved half. We only started making this income in past 5 yrs. It’s a bit of a lot on housing. But it’s in financial ranges of acceptable. Meaning. You should own a house approximately 3-4x income. Keep mort tax & ins below 36%. Frankly I find it tight. I find us paying 40% tax. Federal. State. Real estate. Then insurance is roughly 800 mo. We are well insured with life etc. car insurance. We have teen ages. Boys. It’s definitely costing. We are spending 20% on savings. Retirement, college for younger kids. My personal spend budget is like $100 week. 😧. With the renter. That’s awesome. I think it’s fine she contributes personally. [/quote]
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