Reply to Just bought an $800,000 house on a $186,000 salary and now I'm panicking....

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Reply to "Just bought an $800,000 house on a $186,000 salary and now I'm panicking...."

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We weren’t comfortable with more than a $200k house on a HHI of $100,000/yr so that would be a big no from us. But we are resisting the two income trap and [b]live in the Midwest[/b]. [/quote]

This is how you can live in a 200k house. It’s not the 2 income trap  :roll: It’s that there is actually housing stock that only cost 200k. Around here 200k gets you a non-updated 2 BR/1BA condo with HOA fee way outside the beltway. Maybe not even in a good school district. You’re not better with money, you just live somewhere cheaper. [b]Also, you will probably never see the home appreciation we have around here. [/b]My house has gone up more than your entire annual income (125k) in less than 2 years. There are trade offs either place. I’m not knocking your choices. But it’s not like people are spending more on housing here because we fell into some sort of keeping up with the Joneses crap.[/quote]

Your appreciation rate will not last, nor is it likely to outpace this Midwestern poster in the long run.

Also, she arguably IS better with money because they were able to find a life that works better for them.

Signed, DC area resident. [/quote]

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