Reply to One Million Dollar house...talk me out of it.

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]OP, save a larger down payment and buy a $1 million house when you can put 30% down without tapping into retirement.  I'm a little concerned that you haven't saved a larger down payment, it makes me wonder if you know how to budget.  No way I'd tap into retirement and wipe out my savings completely to buy a house.  [/quote]

Sounds like the tapping into retirement was just a bridge loan. But I don't know why they don't just roll the proceeds of their home over into the new house at settlement. The borrowing from retirement seems like an unnecessary step.[/quote]

OP here, it is kinda like a bridge loan but if we make an offer, the closing date will be flexible for the sellers. If we can sell our home before the closing of this house that would be ideal but if not, the worst case scenario would be to tap into retirement and then pay back ASAP after we sell our home.

To answer other questions that I have missed, the credit card debts are already calculated into our monthly spending. We max out our TSP and plan to max out our TSP and will never stop that. DH is 35 and I am 33. Yes 2000 is our current fun money that DH and I get to do whatever we want with it, including saving it if we don't want to spend it. My mortgage is currently 2300 per month.

The responses that we are getting are really great. Definitely are keeping us grounded and we can continue to look back at this when we get the itch to move. Please keep posting![/quote]

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