Reply to How Much House Can We Afford? HHI 215K

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[quote=Anonymous]We bought a $750K house on your HHI 6 years ago and the mortgage payments were super easy and we never felt squeezed (ate out a lot, travelled, spent without worrying - we don't have super-extravagant tastes, but not cheap either. Think mainly J.Crew with occasional splurges at Barneys Co-op). We had enough to put down 20% though. We also kept up with our savings so that by the time we decided to move up, we had over $300K (including the equity in our old house) to put down on the next house (which is our forever house). We're in a more expensive house now, but higher HHI too. Key things though: we had no debt when we bought that first house (other than the mortgage), and still don't. We also don't care about cars so still have the same Honda we had back then -- it works fine and we'll replace it with a similar car when it finally breaks down (we both metro to work and we paid premium to live near transit). No kids yet but we're thinking of doing that in a year or two. I know kids will impact our finances in a big way but that's ok. We live really comfortably now and save a lot so there's a lot of room to pare back on our spending and savings without having to live like ascetics. Money is a tool, not something to be hoarded for the sake of hoarding. We make sure to save for our retirement, shorter-term goals and emergencies but we think its equally important to enjoy life as it happens too, not put it all off 'til you're 80. [/quote]

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