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Relationship Discussion (non-explicit)
Reply to "Do I Buy Expensive Home To Make My Wife Happy?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]How big is the mortgage on 1.8m? That would make me extremely uncomfortable at 550K if it's over 1.5m mortgaged.[/quote] OP here. It will be about $16k/month. We were approved for up to $3.2m so we definitely have the money. We have a very large savings account and a large down payment. Our HHI will increase if my wife goes back to work once kids are in school. [/quote] Do not make any financial decision assuming your wife is going back to work. [/quote] OP here. I just realized $16k was a typo. I meant to say $6k/month or around there. Mortgage will be $8-9k/month with 20% down payment but I will put a larger down payment to lower the mortgage to $5-6k/month. The house will be bought based on my income. My wife may go back to work but that is not a factor in our budget. We may be able to pay off the mortgage earlier if my wife goes back to work. [/quote]
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