Reply to What can we realistically buy with $250K HHI?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Depends on your debt and expenses, and your down payment. 
A general number is 3x gross salary. But if you have a ton of debt, less than that. 
Will your income grow in the next 3 years? If so, I’d do 1M now. [/quote]

3x gross salary is outdated and not remotely realistic anymore for the non-wealthy. [/quote]

Oh Please. She’s not getting anything under that. You have no idea if OP is at 250 HHI and stuck there, or 250 mid 30s with a potential climb to 400.[/quote]

What? I mean that most people realistically spend way more than 3x gross salary because it is necessary unless they want to live in a tiny dumpy condo forever. [/quote]

OP makes $250K, 3 times that is $750K.  There are lots of good options for $750K in this area.  [/quote]

Where?

I just took a quick look for SFH in Herndon, Reston, Burke, and Ashburn, basically it's all upwards of $900k.

For $750k you're talking townhouse, and it would be pretty demoralizing to earn $250k and have to live in a townhouse...[/quote]

NP: We have a $250k household income, live in a rowhouse in DC, and do not find it “demoralizing.” It’s a great lifestyle. [/quote]

I'm glad you've come to terms with the fact you're too poor to afford a proper house.[/quote]

I am willing to bet that you probably make less than that, but can afford an SFH only because you bought when prices were cheap, and rates were low...

Lets see how you would manage now...

-Signed Recent TH/Rowhouse owner with 460K HHI
[/quote]

It's funny how the internet likes to shame people who bought around here when the market was low, as if they could predict this would all become a super trendy places to live.  DC was a giant crackhouse not even that long ago.  Lots of these places were completely undesirable by today's standards.  Today, people want a sure bet and as much luxury as they think they should be able to afford.  Most likely based on what home prices were 3-5 years ago before they experienced some nice wage inflation.  Too bad everyone else here experienced it too.[/quote]

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