Reply to How much to expect to spend on a new house?

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[quote=Anonymous][quote=Anonymous]
This is about how I view most of these situations as well. My own situation is a little sticky because one of us is in private industry (technology) and makes SO much more than the other (me, the saving the world nonprofit manager), so to buy a home on one salary is tricky in that if I lost my job we would be fine but if he lost his job it would be much more difficult. At the same time it feels far too cautious to buy a home based on my 65K salary when there is a person earning 3 times that nearly in the equation.[/quote]

I'm so with you.  My husband is in a much higher paying career (and we still have a HHI of "only" $140Kish).  If we'd bought based on just my salary...well, honestly we couldn't have.  There is nothing in this area where a family could live comfortably on just MY salary.  My salary allows us to put money in savings, and that's about it.  When my job almost went away last summer, we had to tighten our belts, cut our savings and lived on just his salary for a short time.

This is why we STAYED in this area, though - my husband felt he had a lot more possible employment options here in case of a job loss for him, so that we wouldn't be completely screwed.[/quote]

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