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Reply to "One Million Dollar house...talk me out of it."
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[quote=Anonymous][quote=Anonymous]My husband and I are falling in love with a home in a very nice neighborhood and a better school district for my sons (1 month and 2 years). While our HHI is 300K, I did the math and it appears that we will still be ok but it'll wipe out our savings and what we normally put into savings every month. Not living paycheck to paycheck but very close. I guess I am trying to convince myself out of love with it so that I can just move on and accept what we have.[/quote] The real question is not about the price of the house. It is about the size of the mortgage. OP, if you have been saving enough money for a sizable down-payment, say 30-40% of the house, I see no problem with it. (Assuming you don't need to touch retirement savings)[/quote]
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