Reply to How do people "upgrade" houses?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]How much house do you feel you can afford OP?[/quote]

About $100k more than ours costs - which was the price differential of a single family home in 2020, and is far less now. [b]We don't have a ton of equity yet[/b]. [/quote]

Typically you want to stay in a home 5-10 years. It sounds like you may have been in yours about 2?
Certainly leave if you hate it - life is too short - but in that case you will take a hit.  Financially you should stay longer. Save up your cash for a down payment and let your equity grow.[/quote]

OP here - I am committed to staying 5 years, not sure I will make it 10 (oldest will be 16, wouldn't have much time to make memories in another house). My worry is that even then, house prices have gone so wild that the only way to do that even with more equity is by increasing salary way more than is possible in our fields. I am a fed and will certainly keep looking for promotional opportunities, but tenure for my spouse looks like a $10k raise, and the next GS level would be similar for me. Do people only do this if they're actually doubling income? [/quote]

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