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Reply to "How can anyone afford a huge expensive home?! "
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[quote=Anonymous][quote=Anonymous]We just bought and have a 600K mortgage. HHI of 165K. I know most DCUM would consider us overextended but the key for us is no other debt and an full emergency fund (6 months income), plus we have the option to rent out the basement if things get tight and cover 1/3 to 1/2 our mortgage. We are managing fine, paying for daycare and still saving 20%. We bought a condo at rock bottom prices right after we got married. Stockpiled savings while our mortgage was low. Sold the condo for 150% of purchase price 5 years later, rolled the proceeds into a down payment and voila! [/quote] Absolute moron.[/quote]
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