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[quote=Anonymous]I don't know what kind of logic they're using to program those calculators.  I just used one today myself, and on a HHI of 250K and with a 100K downpayment, the calculator said we could afford a house of just over $1M.  HA!!!   As it stands now, our mortgage is just under $400k - it's about $2500/mo, and after paying for daycare, aggressive retirement savings and college savings, there is less to go around than I would have thought.  I'm not joining the typical DCUM complaint of feeling stretched at $250k, just saying I wouldn't want to have an obligatory $3k in additional mortgage expense.  That would require much more penny pinching (we currently don't have to do any).  I wouldn't be comfortable with a mortgage above $3500.  Maybe $4k if I really loved the place and it didn't require any updating.

Also, something I think people may not consider when purchasing a house (if it's your first purchase, at least) is not just the cost of home maintenance, but what you might end up spending to make the place really feel like your HOME.  Granted, it's hardly required spending, but for me, getting my furnishings and decor to the place that I want it is important and has been an added expense these first few years in the house.  Especially around here where so many of the homes are older and may not have been updated in at least a decade or two.[/quote]

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