Anonymous
08/18/2022 18:35
Subject: Re:How much house can we afford?
Are you trying to communicate that your home worth $1,6 or $1.75 million has a remaining mortgage balance of $175,000 ?
Do you plan to sell this real estate property in order to purchase a new home ?
Do you plan to sell this real estate property in order to purchase a new home ?
Anonymous
08/18/2022 18:33
Subject: Re:How much house can we afford?
Equity in land or a home ?
Are you willing to sell that land/home/building worth $1.6 million in order to purchase a different home.
Are you willing to sell that land/home/building worth $1.6 million in order to purchase a different home.
Anonymous
08/18/2022 18:31
Subject: Re:How much house can we afford?
Anonymous wrote:What is "paid-off real estate" ?
Equity
Anonymous
08/18/2022 18:19
Subject: Re:How much house can we afford?
What is "paid-off real estate" ?
Anonymous
08/18/2022 18:11
Subject: How much house can we afford?
Anonymous wrote:OP can you give a little more context as to where your $ comes from beyond the ~$175k or so of annual income?
I’m just stumped as to how you have $1.1 mil in savings and a $1.6 mil paid off house and are easily prepaying for 14 semesters of school and tossing another $200k to the side for another child’s school on that salary.
DH and I both maxed out our 401Ks since our twenties. We both worked two jobs until the kids were born. I used to make 30k more at just one job when the kids were first born but took a mom-job to help more with kids. We did get 400k from inheritance.
Our house has a weird layout and we want a more fluid home in a good school district.
Anonymous
08/18/2022 15:54
Subject: Re:How much house can we afford?
Anonymous wrote:HOW is this possible.
My guess - Family money. Start-up stock. Sale of company. Lottery win.
Anonymous
08/18/2022 15:45
Subject: How much house can we afford?
OP can you give a little more context as to where your $ comes from beyond the ~$175k or so of annual income?
I’m just stumped as to how you have $1.1 mil in savings and a $1.6 mil paid off house and are easily prepaying for 14 semesters of school and tossing another $200k to the side for another child’s school on that salary.
I’m just stumped as to how you have $1.1 mil in savings and a $1.6 mil paid off house and are easily prepaying for 14 semesters of school and tossing another $200k to the side for another child’s school on that salary.
Anonymous
08/18/2022 15:28
Subject: How much house can we afford?
Unless you plan to use some of that paid off real estate towards your purchase, your new house should probably be less 450k with that income and a 20% down payment.
If you are going to use some of that 1.6M, well, then I would pay cash.
If you are going to use some of that 1.6M, well, then I would pay cash.
Anonymous
08/18/2022 15:26
Subject: Re:How much house can we afford?
HOW is this possible.
Anonymous
08/18/2022 15:23
Subject: How much house can we afford?
What is ‘savings’? Is that liquid savings? Or is that retirement plans?
Anonymous
08/18/2022 15:22
Subject: Re:How much house can we afford?
Great job OP. Don’t move
Anonymous
08/18/2022 15:20
Subject: How much house can we afford?
Don't move
Anonymous
08/18/2022 15:11
Subject: How much house can we afford?
Why are you moving? What is paid off real estate - the equity in your current home?
Anonymous
08/18/2022 15:07
Subject: How much house can we afford?
stay where you are and retire earlier than expected
Anonymous
08/18/2022 15:05
Subject: How much house can we afford?
What would you say is a comfortable price range for me to consider?
We have:
Paid-off real estate: 1.6M
Mortgage: 175k left
Savings: 1.1M
Income 1: 97K (but plans to retire in 10 yrs)
Income 2: 80.5k (plans to work 15+ yrs)
3 kids in grades 6, 4, 2. We prepaid VA schools 14 semesters and put aside 200k for another.