Am I the only one who pays way too much?

700K but just started making good money a couple of years ago and my husband and I are 40.

We have PITI of 10K, just outside of NYC.

One kid in private school for 35K per year.

We’re mindful of other expenses but the main concern is illness / job loss for one of us.

I would have kept PITI at around 7-8K personally. Issue is my husband LOVED this place and was previously miserable in our much smaller apartment so I had to give in.

Anonymous wrote:Ours is $2600 a month. Very doable especially since we still have student loans and daycare costs.

House was $700,000 10 years ago and we refinanced to a 2.4% interest rate. At this point we will probably never leave.

So close to us for a second I wonder if my husband posted this.

About $2600, but we bought 8 years ago outside of DC area. House worth $1M now. Bought it for $600K, HHI at that time $340K.

About 8k which is comfortable for us. We made good money early on so had good savings and investments before purchasing this house. We also have only one child (with no plans to expand family), cheap health insurance through jobs, drive old cars, mainly cook at home, etc. Our home was expensive but we plan to stay past retirement here and is in a great area that we adore.

Anonymous wrote:

Anonymous wrote:If your HHI is 600-700k (and projected to increase, unknown by how much, as depends on how ambitious we want to be), what PITI do you have / what would you feel comfortable with? (Assuming no family money assistance). Thanks!

$4,500, but we got lucky with interest rate timing.

Would be comfortable going up to $6K PITI.

Could theoretically go higher, but would require cutting back on vacations or other expenses.

Also would leave us vulnerable in the event of job loss or sudden income change.

Our income is 760 and PITI is 5500. Given our current trajectories I expect it will increase to over 1 million over the next four years - by the time we’re 40 - but not sure how much it will climb after that…Given that neither of us is in a revenue generating part of a business we will have to be very driven and lucky to get beyond 650 for DH and 550 for me. With interest rates where they are and childcare expenses for three young kids I would not move for another decade. Not sure what PITI would be comfortable then though.

5600

We wanted to stay below 6k

5500 PITI and HHI is 760. We were first time buyers in 2021 when our income was closer to 450. Nanny and childcare costs for three young kids are eating up a lot of income now (more than PITI) but we are *done* having kids and mid-30s, so hoping for continued career success so we can focus on saving and investing.

$3,500. But it was $7000 until a week ago when we paid off the mortgage on our second home.

Anonymous wrote:If your HHI is 600-700k (and projected to increase, unknown by how much, as depends on how ambitious we want to be), what PITI do you have / what would you feel comfortable with? (Assuming no family money assistance). Thanks!

$4,500, but we got lucky with interest rate timing.

Would be comfortable going up to $6K PITI.

Could theoretically go higher, but would require cutting back on vacations or other expenses.

Also would leave us vulnerable in the event of job loss or sudden income change.

Ours $5300. We bought when our HHI was more like $500k, but we had good reason to think it would increase a good deal. We’re now close to $700k

We have $5400 PITI and feel very comfortable, kids go to public school ( Langley Pyramid), no student loans, no car debt, mortgage is the only debt we carry.

We started making good money around 40, so we are very focused on savings, depending upon your overall financial picture YMMV.

Ours is $2600 a month. Very doable especially since we still have student loans and daycare costs.

House was $700,000 10 years ago and we refinanced to a 2.4% interest rate. At this point we will probably never leave.

$1900/mo, but that is only because we bought the house 13 years ago, are locked into a great rate, and our kids are happy in our school/neighborhood and we enjoy our neighbors, no reason to leave. With one headed off to college next year, I'm quite happy we never upsized, as now we are in the mode of thinking about where our next dream move is and it is not the DMV!

We have $6100 and feel extremely comfortable. It’s the other costs (nanny, private school) that we are trying to reduce!!

If your HHI is 600-700k (and projected to increase, unknown by how much, as depends on how ambitious we want to be), what PITI do you have / what would you feel comfortable with? (Assuming no family money assistance). Thanks!