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Real Estate
Reply to "900k house on 300k income?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I am conservative and I think that's ok if you're not also paying student debt, etc. If you're paying PMI though I'd really rethink the 10%.[/quote] I'm conservative. I think making $300k w/ a 10% downpayment for a $900k house is odd. If you have the cash, put down 20% and waste funds on "hazard insurance." If you have new money, then your focus should be on savings and wealth building. Buying a home is okay, but $900k is putting all of your eggs in one basket. Reconsider your price point and priorities (needs vs wants). If money is no object b/c you are trust fund baby, then I digress and carry on. [/quote] We are saving for retirement so that's wealth building, right? And presumably we'll be building equity in the house after the first 7 years or so. I know we could keep renting at 1,600 a month and put every cent after that into wealth building but is it really so bad to want a house?[/quote]
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