Reply to 900k mortgage. 250k HHI.

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[quote=Anonymous]Ooosh.  This seems like A LOT of house for a 3 person family.

It's like signing a contract to eat at (insert expensive restaurant name here) EVERY NIGHT.  Not just once a month or once a week.  You are committing to living at a high expense for years and years.

I really love a book called "Your Money Ratios" by Charles Farrell.  Why?  Because it helps you look at every financial decision you make in relation to how it affects all other parts of your life and your financial life.  Often we look at a car loan or a purchase of shoes or a vacation as an independent choice --- do I have enough to afford this right now?

Farrell's book helps you look at each decision (big decisions) in regard to how they affect your other goals and wants.  He helps you quantify how much debt you can handle to still be able to reach LONG TERM goals.  If you save X% today, then you will have x% to use for this and y% to use for that... etc.

If you read that and feel comfortable with how this mortgage commitment affects your other wants/needs, then I think you will have peace about going forward.  And if you read the book and decide it's too much of a trade off for the house, then you'll also be in a good place.  Either way, I think you'll have more peace of mind, and a better sense of the inter-connectedness of your decisions.

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