Reply to How much to expect to spend on a new house?

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[quote=Anonymous][quote=Anonymous]Maybe you could buy more house than you could afford on one salary, but less house than you could buy on two?  Like if you could afford a $300K mortgage on one salary and a $600K mortgage on two, go for a $450K mortgage?  Over-simplifying, obviously.

I have an HHI of about $100K as a single person.  (plus child support that covers preschool.)  I can afford a decent house in my desired area (though not walkable to metro, or huge, or new) but if I were married to someone with a similar income, we wouldn't have spent twice the money - we would have spent another couple hundred thou and gotten something just a little nicer.[/quote]

This is how we're approaching it too.  We both make around the same salary right now, but my spouse's job is the more "stable" of the two.  Mine is a more year-to-year contract position.  We're trying to stay within the range that would give us flexibility and could absorb an income loss if one of had to switch and ended up in a lower paying job.  It’s a bit limiting but at the end of the day I think we’ll both be glad we played more on the conservative side.[/quote]

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