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Real Estate
Reply to "Stretching to Buy a home"
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[quote=Anonymous][quote=Anonymous]Only on this forum are people with $400K HHIs grappling with whether they should stretch to buy a house. You can't find a $1.2M house that meets your needs? Really? We make close to what you do and there is no way I would borrow $1M even though I could. Maybe we have low standards. At your income, you should be investing for retirement outside of your TSPs. A different perspective is take advantage of your position of having a $600K+ downpayment to take out less mortgage and use your high income to invest for early financial independence. Also, if I were to borrow $1M with children, I'd want to each spouse to have $1.5-$2M in life insurance and a good long-term disability policy that replaced my income until age 65.[/quote] Only on this forum do people think they "need" $250,000 to do a kitchen repair and fix up a few bathrooms. Absolute insanity. Either you are getting bathrooms with bidets, marble floors, and gaudy gold fixtures or you are getting hosed by a general contractor who preys on clueless UMC and rich folks.[/quote]
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