Reply to Am I crazy for thinking that we could afford this?

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[quote=Anonymous][quote=Anonymous]Some details...

160k combined income (we both work for the government, in 5 years we expect to have about a 190k combined income)
50k cash for a downpayment

we both have 5 year old cars that are paid off, will be able to drive them for a long time

only debt/loan is a 200 dollar student loan/month

we are planning on trying for kids next year or so... we have both sets of inlaws in the area so childcare won't really be an issue.

we're interested in the rockville/gaithersburg area... i work from home and my wife works in gaithersburg.  it seems that for a decent townhome/house in a good school district, you have to pay a minimum of 450-500k for a house.  I have seen houses that I like at this price range.

We are in the same price range as you and have a 410k mortgage.

I know that dcurbanmom is generally conservative, but I feel that in our situation, it would be reasonable to have a 400-420k mortgage, considering our stable jobs and guaranteed salary increases (albeit small) in the next few years.

what do you guys think?[/quote][/quote]

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