Reply to Won the bid on a 900k house and now I feel sick

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Our HHI is currently about $240-270k, depending on bonuses, which vary, so a low year is $240. The thought of a $900k mortgage scares the ever loving shit out of me. Maybe DH and I spend way too much or put too much in retirement and other savings and still have some student debt (approx $50k left), but we were scared to death about buying our first house (at ages 27 and 29) in the low 300s. We are still in that same house 4 years later and expecting our first and will now add daycare costs, which also worries me. There is no way we could swing a $4000/mo mortgage payment.

I would LOVE to see the monthly budgets of some PPs to find out what we could be doing differently. [/quote]

If you bought a house on the low 300s four years ago, you do not live in the dc area or any other expensive housing market and this should not be weighing in.[/quote]

NP.  It was and is possible to buy a house in DC in the low 300s maybe not 4 yrs ago but certainly 5-6 yrs ago.  We did:  DC downtown, horrible IB school and all but really close to our offices (FEDS).   Our rowhouse is now nearly worth triple what we bought it for without doing any improvements.[/quote]

Nope[/quote]

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