Anonymous wrote:You have to step off the ledge and take a risk at some point.

Meh. How much risk is the question? We bought a house we could afford to keep on one salary. People who knew our jobs were surprised we didn’t buy something more expensive, but it’s been good to know in times of uncertainty like now that we won’t have to move unless both of us get fired.

Anonymous wrote:Ask a financial advisor, not strangers on the internet. Why would you trust us? I might be a SAHM who has a degree in Philosophy or a preschool teacher or a manager of a clothing store. But if I answer you sounding like I know what I'm talking about you'll listen to me? Go to a professional!

This should be a sticky at the top of every thread.

But take off the stay at home mom slam.

Most of the SAHMs around here actually manage the family finances, keeping everyone on budget, savings and investments on track, and the bills paid.

Most of the working spouses with stay at home wives have very litgle knowledge of family finances beyond their take home pay.

Anonymous wrote:If you can easily afford the mortgage, you should do it. Many first-time home buyers feel nervous about the commitment but SFHs hold their value even during downturns, unlike townhouses and condos. You can always sell if you lose your jobs but if you wait, you could price yourself out of the homes you desire.

While I agree a SFH appreciates more, looking at the big picture for us staying in our TH would probably have us come out ahead financially after taking into account higher property tax, maintenance, utility, more furniture, and getting a new mortgage at 6-7% vs our current 2.3% rate.

Why be a slave to your job and be stressed about losing it all the time? Be happy with what you have. You are perfectly fine in a townhouse. On the other hand what are you scared of? That you lose your job and will never find another one? AI or no AI that super unlikely, just build enough reserves to take you through 12 months of an unemployment spell.

Anonymous wrote:

Anonymous wrote:What’s your current hhi? What are your current assets?

One thing I’ll say is that if your kids are young, you’ll find these years go by really quickly. If you want them to spend their childhood in that townhome, that’s fine, but if you’d like them to grow up in a sfh, it’s worth making the investment now instead of dithering around the decision to the point that they’re in middle school, entrenched in their community and unhappy about moving. And at that point, you’re literally a few years from them moving out for college.

+1000

Buy the house to raise your kids in. It's an asset that you can sell if your job situation changes meaningfully.

I would be careful not to look at houses above your budget. Stick with your budget, there’s a house for everyone out there.

Do you think there might be another 2008 when the housing market crashed? I don’t know how housing prices can keep going up.

Anonymous wrote:What’s your current hhi? What are your current assets?

One thing I’ll say is that if your kids are young, you’ll find these years go by really quickly. If you want them to spend their childhood in that townhome, that’s fine, but if you’d like them to grow up in a sfh, it’s worth making the investment now instead of dithering around the decision to the point that they’re in middle school, entrenched in their community and unhappy about moving. And at that point, you’re literally a few years from them moving out for college.

+1000

Buy the house to raise your kids in. It's an asset that you can sell if your job situation changes meaningfully.

Increase your emergency savings, and/or increase your down payment so that your monthly is lower. And then go for it.

If you can easily afford the mortgage, you should do it. Many first-time home buyers feel nervous about the commitment but SFHs hold their value even during downturns, unlike townhouses and condos. You can always sell if you lose your jobs but if you wait, you could price yourself out of the homes you desire.

If you can easily afford the mortgage, then what i would do with there being uncertainty in the job market is make sure you have enough funds left to pay all your bills for say 1 year or more (depending on your perception of and tolerance for rusk), and get the new home.

Anonymous wrote:Ask a financial advisor, not strangers on the internet. Why would you trust us? I might be a SAHM who has a degree in Philosophy or a preschool teacher or a manager of a clothing store. But if I answer you sounding like I know what I'm talking about you'll listen to me? Go to a professional!

This is not complicated. If they cant sort out the advice here, they are likely to end up with 1% of their liquid assets paying out to a financial advisor each year if they just blindly seek them out professional advice.

Anonymous wrote:Ask a financial advisor, not strangers on the internet. Why would you trust us? I might be a SAHM who has a degree in Philosophy or a preschool teacher or a manager of a clothing store. But if I answer you sounding like I know what I'm talking about you'll listen to me? Go to a professional!

You must be new on DCUM or just irritable in general. Posters often ask financial questions here and receive helpful advice. That is why the subforum was created.

What’s your current hhi? What are your current assets?

One thing I’ll say is that if your kids are young, you’ll find these years go by really quickly. If you want them to spend their childhood in that townhome, that’s fine, but if you’d like them to grow up in a sfh, it’s worth making the investment now instead of dithering around the decision to the point that they’re in middle school, entrenched in their community and unhappy about moving. And at that point, you’re literally a few years from them moving out for college.

You have to step off the ledge and take a risk at some point.

Ask a financial advisor, not strangers on the internet. Why would you trust us? I might be a SAHM who has a degree in Philosophy or a preschool teacher or a manager of a clothing store. But if I answer you sounding like I know what I'm talking about you'll listen to me? Go to a professional!

Tired of living in a townhouse with our growing family and want to finally get a single family. We can easily afford the mortgage on one but given the AI predictions and future job outlook we’re too scared to commit to a purchase like that. It’s frustrating. Is the best move (besides stay put) to buy the house in cash, or just wait until our liquid net worth grows to the point where we could easily pay off the house if needed?

Keeping the money liquid in investments is a bit riskier but will probably give us better returns than if we dumped it into a house.