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Real Estate
Reply to "Won the bid on a 900k house and now I feel sick"
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[quote=Anonymous]During my working years, we always bought more house than we could comfortably afford because I was confident our income would increase and we did not want to feel that we short-changed ourselves as our income did increase. It meant being frugal for the first couple of years and with the passage of time, the mortgage became easily affordable. The real issue is whether you can reasonably expect your incomes to increase. If this is likely, then I would not worry about it. Now it may be that on your income you can afford the house anyway - it depends on where you spend your money and to what extent economies are possible if that should be necessary.[/quote]
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