Reply to If you are house poor, do you regret it?

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[quote=Anonymous][quote=Anonymous]2.5 years in, we don't regret it: but we haven't had to dump a lot of money in for repairs yet, and we LOVE the neighborhood, schools and the commute is decent for both of us. Every so often we'll wonder if we should have gone for a less expensive house, but we love entertaining and having the space to do so - and love the house.  Nothing fancy, but fun. In 10 years though, if our incomes haven't grown, I can see being frustrated at not having vacations and more disposable income - especially when the economy feels volatile :/[/quote]

This is the same as our family.  We don't regret it and love the space and neighborhood.  Even with the mortgage, we save a decent amount.  I would love some more extravagant vacations, but our life is so much more relaxed in a house were we have room to live and the kids have room to bring their friends over that it is completely worth it.

I also think we need to be clear on what percentage of gross/net income would make someone feel house poor.  Our mortgage is about 21% of our gross or 36% of our net income.  If  it was about 31-32% of our net instead, we would not feel house poor.[/quote]

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