Reply to How can anyone afford a huge expensive home?!

Forum Index » Money and Finances

Reply to "How can anyone afford a huge expensive home?! "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]Moved to area bought 900k home 8 years ago. No other bills so paid 2x mortgage every month over past few years. Sold last year with $400k equity from double pmt.....also have $100k sitting in bank. In 2016 Put $300k down on 1,6mm house. Mortgage is $6000 per month but HHI is $35k per month. Drive 2 paid-for luxury cars- 2005 and 2012, so no car pmt. DH is bank exec. I (wife) work in a small office. No family money, 2nd generation college. Student loans paid off. 2 Kids in public school in McLean.

Not house poor. But still cautious with our $. Just paid $25k for to have our 1st floor decorated and furnished (will furnish rest of house from existing stuff). Looking to buy new $50k car since 2005 van needs a lot of work. Will pay cash for it.

Every time we get bonus it goes into savings. Dh is finance person so we've been saving since before we married. $1MM net worth (even with debt in current new built house).

So it can be done. Only giving this much info because site is seemingly anonymous :)[/quote]

Had you NOT paid double payment for 8 years, but instead invested that money in index funds, you would have nearly doubled that money. Your 400k of equity would have been at least 700k in in initial investment + returns.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics