Reply to HHI 200K - how much house can/should we afford

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I am always fascinated that people consult DCUM for the answer to this question--- and this type of thread appears almost every week.  There is no "right" answer here.  Figure out what interest rate you will qualify for-- and then calculate how that will translate into a monthly payment for various mortgage levels.  Then look at your after-tax monthly income and figure out how you want to allocate it.  Everyone is going to have a different set of priorities (travel, eating out, daycare, savings, mortgage, car payments, clothes, medical expenses, etc., etc.).  You just have to develop the budget that works and feels right for your family.  MS Excel will offer you way more help than any answers here.[/quote]

I think people are just checking to see whether they're totally and completely nuts. If OP said she were trying to buy a $1.5 million house, people would be telling her she's out of her mind. As it stands, she's in the "doable" range, and you can see that based on how divided the responses are.[/quote]

Yeah, I totally understand looking at an eye-popping mortgage number and thinking "can I really afford this?" But DCUM is more about fear mongering than reassurance.[/quote]

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