Reply to Budget to Transition to SAHP

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Wait, you have $250,000 in cash savings?  Pay down the mortgage and refinance.[/quote]

Why would we do this? We have  3.85% interest rate which is tax deductible.  I am earning 2.2% on the CD it is in and it provides us enormous flexibility (like considering to stay home and use it as cushion, hence why we haven't plowed it into stocks or investment property).

If we paid down mortgage and refinanced, we might push down our mortgage to the $2700 I looked at earlier, but that is still unworkable.  Being able to paydown the house so we have a $230k mortgage is beyond the means and two bedroom condos in our neighborhood go for $700k (our TH is $850k).

Moving seems like the only way; [b]so for everyone SAH on $100k incomes, you live out in exurbs in sub-$400k houses?[/b][/quote]

Buying a sub-400k house is what's financially responsible when you have a 100k income. I wouldn't say we live in the exurbs but we do live in Fairfax County, not in city limits or in a nicer part of Arlington.

I get that your wife is stressed out at work, but can't she look for another job or look for a part-time job instead of trying to pay a $2700 or $3700 mortgage on a 100k salary?[/quote]

That's fine, just wanted to know what options were available to us.  Running numbers and I guess our only *real* problem is mortgage and maybe support for inlaws (paying for their phones, traveling to see them exclusively).  [/quote]

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