Reply to Shocked: Our bare-bones monthly cost of living is 5K after taxes! What's yours?

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[quote=Anonymous]To a PP who said I "failed" because my mortgage was over some notion of what they found acceptable, I don't have any problem making the payments every month.  I save for retirement and my daughter's college fund.  I have a roommate renting one of the spare bedrooms, which helps.  Had to spend more on this house to get the elusive combination of great commute + good schools.  (good schools + close to DC around here means paying more.)  There isn't a ton of room for extras like vacations, but for now, I'm ok with that.  there will be more money once my daughter is out of private preschool and in public elementary.  And I'm currently working for a lower salary than I can earn with my background/degree; once the economy improves, I might see real income growth.

Some of us just don't have a renter's mentality.  I haven't rented since i was able to pull together a down payment at age 27.  I have friends who are in their 40's who have never owned, and I think there's something kind of sad about that.  Some of them missed out on quite a bit of appreciation.  (I made $200K on my last house; thanks to the bad market, my investments haven't done nearly that well.)  I like home ownership.  Sure, sometimes I wish I was out watching football instead of raking leaves on a nice fall Saturday, but I wouldn't trade ownership for renting.[/quote]

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