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

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[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]

Same boat, but our gross is around 440k and our mortgage accross 2 homes is 4k ans childcare at.2500/mo. Though we make double the OP, no way would we take on an 8k morgtage. We like to take vacations, will pay for our kids college, have our house nicely furnished, Dont stress over buying new cars, buy everything in cash, and don't worry if one of us faced a job loss for a period of time. We save enough to give our kids a down payment for a house one day and if catastrophe strikes, we can dip into this.[/quote]

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