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Reply to "Dialing back 401k until both kids are in PK3"
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[quote=Anonymous]OP here. Guilty as charged - that's me. The issue really is that we had planned to buy a house in this area for 800-825 that was fully finished. 20% down from the profits from sale of our current house, PITI $3700/month. The reality is that the houses that should be 800-825 are selling for 860-875 in the exuberant market. We saw an opportunity for something that was only going to cost us 700 that we could "make" into that 800k house with 100k/125k in work. The real difference is whether that extra money is financed or paid out of pocket. When it's financed, it's simple. In the instance where we buy the 825k house, we're paying 165k in cash (down payment) to get mostly what we want. In the instance where we're buying the 700k house and putting in 125k in work, we're paying $195k in cash (70k down + 125k in work) to get exactly what we want. Both get us to more or less the same point in equity, but its that additional 30k outlay that is the tricky spot.[/quote]
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