OP, we make more than you and bought for 725K with 20% down. We rent out a basement unit so payment is about 2K. You are probably fine IF you do not have children. However, if you have kids, you will likely feel stretched bc childcare is so expensive, and if you have kids, you may not want to be locked into needing a high paying job. So given your age, unless you are deadset 100% sure you will never have children, I would either 1) buy something cheaper to give you flexibility if you do have kids or 2) buy something you would be comfortable having a long-term renter in to defray costs (like with a separate basement unit, not just a roommate situation.

Anonymous wrote:

Anonymous wrote:What's your take home after taxes, 401k, etc.?

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OP here, take-home is around 8k per month after tax/401k/etc.

You should be able to do it and save about $2k/month at least. That's being conservative.

The only question is whether you're okay with being tied to a high-paying job, versus going to a start-up, for example. You could offset this somewhat by getting a roommate and continuing to stash your cash away in the event you want to be in the position to take a hiatus from work or whatever.

Anonymous wrote:What's your take home after taxes, 401k, etc.?

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OP here, take-home is around 8k per month after tax/401k/etc.

Anonymous wrote:

Anonymous wrote:OP here, I work in financial services. Live by myself and my rent is $2300 per month before utilities/cable, which is another $250. It's getting expensive now when I think about the big picture.

$3500 PITI should be no problem.

My DH has such base and we bought our house on his salary only. Our PITI is $2300 and it is very comfortable. We could easily afford 3k. We are going to upgrade in a few years.

Anonymous wrote:OP here, I work in financial services. Live by myself and my rent is $2300 per month before utilities/cable, which is another $250. It's getting expensive now when I think about the big picture.

$3500 PITI should be no problem.

Anonymous wrote:

Anonymous wrote:What's your rent? You're saving $4k/month + whatever you're paying in rent now. If you're getting a sweetheart deal living with your parents I think this is too tight. If you're currently paying market rent ($1500 & up) I would say the plan is doable but you really need to be open to the rental option -- maybe focus on looking for houses with basement units?

Also if a SO moves in down the line that should help with the mortgage payment, but you want to be able to do this alone.

Why would OP not be able to? She’ll have almost 5k to live off of without any other debt. It’s crazy to suggest she couldn’t unless she developed a serious shopping addiction.

? I didn't suggest that. You're taking this in a weird direction.

Anonymous wrote:OP here, I work in financial services. Live by myself and my rent is $2300 per month before utilities/cable, which is another $250. It's getting expensive now when I think about the big picture.

You’re way better off with a 3,500 mortgage. You’ll be at first putting $800 a month toward principle and it should reduce your federal taxes by about $750 per month. So really it’s the same as paying $2300 in rent. You’ll also lock the mortgage in

Just make sure you buy a place where you can stay if you get married. But sounds like you are only looking at rowhouse a so you’ll be fine

What's your take home after taxes, 401k, etc.?

OP here, I work in financial services. Live by myself and my rent is $2300 per month before utilities/cable, which is another $250. It's getting expensive now when I think about the big picture.

Anonymous wrote:What's your rent? You're saving $4k/month + whatever you're paying in rent now. If you're getting a sweetheart deal living with your parents I think this is too tight. If you're currently paying market rent ($1500 & up) I would say the plan is doable but you really need to be open to the rental option -- maybe focus on looking for houses with basement units?

Also if a SO moves in down the line that should help with the mortgage payment, but you want to be able to do this alone.

Why would OP not be able to? She’ll have almost 5k to live off of without any other debt. It’s crazy to suggest she couldn’t unless she developed a serious shopping addiction.

Hi OP. This is my income (180 base) and we purchased a home around the price point you’re looking at. My husband also make a 180k base but we save his entire salary with the exception of daycare. We can comfortably pay our mortgage on my salary without any problem. This should be no problem at all for you considering you have an emergency fund and you say you don’t have expensive habits.

I assume you take home around 8.5k per month since your taxes are a little less not being married. So you’d have around 5k per month to live and save off of

Try and avoid buying a car bc it’s a huge money suck.

I think having a roommate is a great idea and you can use it to continue saving money.

Good luck!!

Anonymous wrote:What career path gives you an income of 180k in your early 30s?

Not OP, but my guess is IT/Tech

What's your rent? You're saving $4k/month + whatever you're paying in rent now. If you're getting a sweetheart deal living with your parents I think this is too tight. If you're currently paying market rent ($1500 & up) I would say the plan is doable but you really need to be open to the rental option -- maybe focus on looking for houses with basement units?

Also if a SO moves in down the line that should help with the mortgage payment, but you want to be able to do this alone.

What career path gives you an income of 180k in your early 30s?

Hi DCUM, another "what can i afford" question. I am looking to buy a rowhouse in DC, where I've lived for awhile.

Here's my rap-sheet:

-early 30's, not married & no kids (not sure kids are for me)
-income is ~180k (160/20 for base/bonus), relatively stable and will continue to grow - but will never be 300k+ money
-No debt and own my car
-200k in my 401k/retirement, currently max out and plan to keep this up unless unfortunate circumstances arise
-175k for down payment (will put down 20% to avoid PMI)
-Will still have a buffer of 20-30k for EMF, after purchase will focus to build this up
-Current monthly take-home = 8k and I am able to save 50% plus 100% of bonuses
-No fancy taste in clothes/cars/etc. but do enjoy city bites and pours, as well as low budget travel in the outdoors (read: camping, etc.)

I like rowhouses and would consider having a friend rent a room, but also want to make sure I am not relying on any rental income to make ends meet. There is the possibility of moving in with a partner, but its too early to count an egg before it hatches.

I have been looking for houses around 700-750 which translates to PITI of 3300 - 3500. I don't know too many single-millenial buyers, so what are your thoughts DCUM? Am I over-extending/crazy?