Reply to $900k home with $180HHI if large downpayment?

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Reply to "$900k home with $180HHI if large downpayment?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We have $250k to put down. Looking at the numbers, it looks like we could afford a $900k home with that large of a downpayment. Even though yearly income is just $180. One elementary age child. No debts. We do need aftercare and summer camps. We don’t take expensive vacations. Does this sound right? Or does it sound like one of those things that works out on paper but will never work in real life?[/quote]do u do your own grass cutting, shrub cutting, mulching, house cleaning, some DIY, etc? Do you drive older cars that are paid off? Do you refrain from buying new clothes all the time? Do you clip coupons and buy things on sale? Then it might work. [/quote]

We live in an affordable million-dolllar+ house and we have always mowed the lawn, cut the shrubs, planted flowers, cleaned the windows, cleaned the house without a service and do basic repairs and painting because we were raised doing and we don't mind.  You can afford a lot more house if you are willing to take care of it yourself. Everything is a trade off.[/quote]

Exactly this. It would depend on your lifestyle. If you are thrifty, and generally good with money, you can make it without a problem.  [/quote]

Someone buying a million dollar home with these interest rates at that income by definition is not good with money.[/quote]

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