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Real Estate
Reply to "HHI 200K - how much house can/should we afford"
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[quote=Anonymous]My opinion--you're still young. Do you expect your HHI to increase significantly in the next few years? Significantly meaning 50 or 100k. If so, then buy what you can afford today without erring on the too conservative side. Selling and upgrading your house is very costly, due to transaction costs and small amount of equity you gain the first few years. We bought our first house at your age with the same HHI. It was $500k, 20% down. We would have felt very stretched any higher. (Back then, interest rates were higher and it was nearly $3000/mo.) Now we make $350k and have a $750k house. Again that's what we can comfortably afford with two kids, if we want to save enough for retirement.[/quote]
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