Reply to Just bought an $800,000 house on a $186,000 salary and now I'm panicking....

Forum Index » Money and Finances

Reply to "Just bought an $800,000 house on a $186,000 salary and now I'm panicking...."

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]We totally fell in love with the house, saw it as our forever home, and went for it.

Now I am here in the light of day and panicking.

Trying to talk myself down from the ledge:

Total mortgage debt is $710,000
Total monthly payment, including principal, interest, taxes, and insurance, is $3,700.   (30 year fixed mortgage with a great rate).
No other major debts, and kids are done with daycare.
Our gross monthly income, before taxes, is $15,500.
So our mortgage debt payment is 24% of our gross monthly income.

On paper, that seems pretty reasonable.

What say you, DCUM?  Did I screw up and buy too much house?
[/quote]

Hell Yes!

Our gross income is $15,000 a month. Our total monthly payment including all of that is $1,300 because we bought under our means and saved for years to put over 200K down. No student loans, CC debt, or health debt. Car note is $600 a month (2 paid off, 1 not). I need a new car but taking on a second note freaks me out. I would be throwing up if I was you.[/quote]

What was the purchase price of your house? I would like to think I’m frugal but come one, don’t sit on your high horse..I don’t think this is anything to brag about. You’re just really cheap. Even if you put 200k down your house couldn’t cost more than 500k unless you bought a long time ago and refinanced. In any event, you must live very far out..which is a choice.

It’s like when DCUM land brags about how smart they are driving around a 15yo clunker car. Again, nothing to brag about just like I’m not going to brag about my Audi. Live a little! [/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