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Reply to "If you are house poor, do you regret it?"
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[quote=Anonymous]I went from a $1,100 mortgage payment to a $2,500 one. The first extra $1,000/month wasn't a big deal, but that extra few hundred on top of that hurts a bit. I'm a single parent with a HHI of about $120k including child support, so I feel house poor at times. I can easily pay for all the necessities, and I save about 20% of my income for retirement and college. But there isn't a lot of room for extras like trips or new cars or renovation projects. So sometimes I miss my old mortgage payment! That said, I like my house and my shorter commute to DC. The schools are better than we had before. I have a SFH now with a yard, vs. a townhouse. So those are the positive tradeoffs. I literally could not have gotten the combination of shorter commute and better schools by spending less than I did, so I just accept it.[/quote]
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