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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I would reconsider this entire plan.  Why not just have your DW downshift to a less stressful job and see what that looks like?  Let's say she gets something making $110K you're still collectively pulling in $250K which should be plenty of money.  [/quote]

This would require selling house, moving and changing school for our 3 kids

And DW does not want this because she is worried about paying for college so dropping income is untenable without severe need (medical, etc). [/quote]

I don’t understand why this means you have to sell your home. Unless you are living that paycheck to paycheck in which case you have a spending problem.

[/quote]

+1.  Unless there's some kind of special needs situation if reducing your HHI to $250K requires you to sell your home you have a spending problem so maybe focus on that first.[/quote]

We currently make $380k but most goes to mortgage ($6k). We bought close in, small old house but a proper SFH inside beltway with good schools.

Dropping to $250k is dropping gross income by 1/3 — do most people live on 2/3 of their income just to have option to drop the other 1/3??[/quote]

Yes, most people that make what you make can drop their income by 1/3 and be fine.  At your income level you should be saving a ton of money not spending most of it. [/quote]

So they live in Burke and commute 1 hr+?

We bought a $1.2M house inside the beltway; anything cheaper was literally falling apart and this is a small colonial updates in the 90s.

If we drop to $250k, half our take home would go to the mortgage — that is not sustainable.

I really want to know the numbers where working parents earning $300k live with small mortgages?

I’m fine moving but it’s what we’ll need to do to drop that much. [/quote]

You’re living beyond your means. [/quote]

So anyone making $300k has a house that cost less than $900k?  So you all live outside the beltway or in townhouses?  PP lives in an exurb, which means we would lose 12 hours a week each just commuting.

I can’t believe people making $300+ choose such soul sucking commutes?  Sure TODAY for some telework is an option (but is not for our jobs). And when we bought telework was not a thing. [/quote]
450k here and we have soul sucking commute and live in a dumpster 700k house that’s older than my grandma.
I mean we tried for three years, every single 900-1.2mm house in the whole $&@ Fairfax would have 20 bids…
[/quote]

This seems crazy conservative. With a 450k income, you are probably spending like 10-15% on PITI. Do you have high expenses elsewhere or are you just saving an insane amount? I get that you were losing bidding wars but you easily could have gone up to, say, $1.5 million if your expenses elsewhere are under control. [/quote]

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