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[quote=Anonymous]Are you upwardly mobile? Is it likely that you will increase your income (like double it..) in the next 10 years, so that you could prepay and pay off your mtg before you retire? If not, you will need to downsize, rent it out, or sell if retiring as you won't be able to afford it.  Even if you intend to work your job until you are 80 you simply may not be able to.

Also, looks like converting your dream house into the rental will be too costly to make sense, you will never see this money back, because income from rental is too small.  And you may not want to live in the same home with your renter, it can get old.  If you are ok sharing the walls of your SFH, why not just get a TH and slap on some self-adhesive noise reducing panels you can get on Amazon?  I think you need to ask yourself why you want this house, and if you are doing it for investment purpose thinking it will appreciate a lot, or you really love extra outdoor space, gardening, privacy, not sharing walls, etc (in which case you won't enjoy having a renter).

I think you can afford it, but you are not likely going to be saving anything beyond 401k contribution and would have to watch your budget closely to avoid dipping into savings.  When something needs to be fixed you are likely going to start spending your savings as you won't have enough cashflow to cover expensive repair/maintenance costs.  You can make it work, but you have to be comfortable with investing your existing savings well enough to grow as you won't have income to contribute.

You have a good NW for a single person, so not as much pressure to build retirement savings as someone your age with a lot less (more common).  But you have to be ok with some portion of your savings depleted as your bury it into this home and hope to cash out when you need to sell.  It may be a great investment that would enrich you 20 years from now when you are ready to move on and downsize, or it may be a drain, nobody knows. [/quote]

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