Reply to Did you buy a house that stretched your budget? Was it worth it?

Forum Index » Money and Finances

Reply to "Did you buy a house that stretched your budget? Was it worth it?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]OP here - thanks for the reality check guys.  I think a few factors made us nervous, 1) mortgage  would be 38% of net take home, which is higher than many people advise, 2) we've become used to saving at a high rate every month, 3) the downpayment would deplete our savings and it would take longer to fill up the emergency fund.  Also, once we move we will not be able to get by on just one salary if one of us no longer can work. But I guess thats the case even if we buy a smaller home.  Thanks for the input![/quote]

I hear you OP! I'm also financially conservative. For us, we too would consider 38% of net "high". We don't take on more debt than one income can'take handle because you never know what curve balls can come your way. When we purchased we spent 25% of our net, now we are at about 18% of our net and did indeed weather a job loss with very little resulting financial stress. We were very grateful to only have to focus on finding the right job, and not worry about the money aspect.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics