Reply to Would you spend 700K on a house with 165k HHI?

Forum Index » Money and Finances

Reply to "Would you spend 700K on a house with 165k HHI?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]You should have phrased question differently- Can we afford a mortgage of $450 on a HHI of 165k given that we have emergency savings of 100k and no childcare expenses?

[b]The answer to that is yes.[/b] Our HHI is the same and our mortgage is $550k. It is doable. It is worth it to us to be in a better location with good neighborhood schools. [/quote]

Yeah, I disagree with that. I think it's too high a debt to income ratio.

As to your other point, I also think that the total cost of the house matters. Financially, it matters for taxes. But it also matters in terms of neighbors and expectations. You're going to feel constant pressure throughout your lives just to keep up with the higher neighborhood "baseline."[/quote]

In this area I don't think there's a big divide between the lifestyle of those in $700k houses vs those in $500k ones.   They're both going to be fairly middle class.

I think your scenario is manageable, op.   [/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