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Reply to "One Million Dollar house...talk me out of it."
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[quote=Anonymous]OP Sorry so many people are giving you a hard time. You sound like a bright and thoughful person. When my husband and I built our house, it was 2x our income and we built in a bad economy. Our company ( worked together) had gone through layoffs and we were lucky we survived. At that time, we didn't have kids. With kids now, we are paying 2k a month towards principal and have saved a ton for retirement and 2.5k in kids expenses per month. If you are looking at sending kids to Sidwell etc ( isn't everyone?), I would say no. If you are looking at public or lower cost independent you should be okay. I guess it is a quality of life issue. Our house will be paid off by the time my oldest hits high school and that is a relief for us and will give us more flexibility. At your income, I would look in the 800k range.[/quote]
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