Reply to How much mortgage can we afford?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I would advise that you rent a cheaper place and save up for a DP. Aim to get a job not in an expensive city center (Tysons, Columbia, Baltimore). Save save save and in a few years, have a sizable DP on a nice house that is 900K as opposed to 1.5M. [/quote]

In what world is Tyson’s not expensive? Some of you are really out of touch. Rents are very high. There is no cheap rental. I own a few rentals and they are small older townhouses. Rent for those is 3k/mo on average. Only a few hundred bucks cheaper than if you purchased the same house with 20% down. [/quote]

But when the kitchen sink leaks, I don't pay $2k to the plumber, when the roof leaks, I don't pay $10K for a new one, etc.  Renting you know your costs.  Owning an older home is expensive and interest rates are high right now.  They need to get control of their finances before buying.  With her income they have the ability to do just that in 3-4 years and be in a much better place. [/quote]

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