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Reply to "Would you spend 700K on a house with 165k HHI?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Investing and growing out wealth is very important to us. I would not like to be on a financial treadmill on a path to no where, so no I would not intentionally make myself house poor.[/quote] The problem is that it may be impossible to find a home less than this amount with a decent commute. [/quote] Why do you/she need a decent commute? Your DH works from home? Something has got to give. To answer your question, no, I would not take on that much of a mortgage with a $165k income. We make about $200k, and we took on only a $200k mortgage (we had save a huge down payment over quite a few years). We paid this mortgage off entirely in five years, then we went on to building wealth. That much mortgage is going to cripple you financially for the rest of your working lives. [/quote]
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