Reply to If you are house poor, do you regret it?

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Reply to "If you are house poor, do you regret it?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Considering wiping out our entire savings and taking on a hefty mortgage for shorter commute and excellent schools. We are still in our 30s and high income. Taking on a seven figure mortgage just seems daunting. I feel it is the right move to be able to eat dinner with dad and have him take kids to soccer. Seems worth it. I know we can have good schools and longer commute but DH doesn’t want to add 1 min to his commute. We currently live in our starter home in Alexandria.[/quote]

So...you'd wipe out your savings and STILL have a 7 figure mortgage?  There's just no way you can't find something more reasonably priced.  You have got to really separate your wants from your needs and start looking again.

What is your income?

I have this feeling that your definition of house poor and what it *actually* means to be house poor are not the same.[/quote]

400 salary plus bonus. Don’t want to rely on bonus for fixed expenses.[/quote]Get a lesser close in house.  You don't need a million dollar mortgage for a short commute and good schools.

Case in point:  https://www.redfin.com/VA/Arlington/3863-30th-St-N-22207/home/11230927[/quote]

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