Anonymous wrote:We have about 30k 401k savings
No worries about selling our house as is with limited cost, it’s an intense sellers market where we live in a desirable
school district.

We have a 20k bonus coming in May that would bump up down payment.

. It should be used to increase your emergency fund or pay off students loans.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:35 and 36
3 children ages 7, 4, 3, baby due in July
Childcare costs 1,200 a month (spouse works limited part time)

Want to move because current house/yard feeling tight. Not in dc and have about 2,200 sq ft

Feeling tight isn’t a good enough of a reason to take on more debt while you still have 6 figure student loans and are expecting your fourth child.

You have no college savings for your kids either?

I think this is the worst financial move you could make.

Sit tight for 2-3 years. Throw all your extra money at the loan. Pay it off then move. I honestly don’t think you will have another chance to get your financial feet under you with 4 kids if you don’t do it now. Unless you expect a big salary increase.

Actually that 4th kid is a pretty dicey financial move; we have the same number and understand why they are doing it, but own up to how it limits a lot of other options

Agree, but child 4 is already on the way. They don’t need to move right now. Wait until the kids are older.

Anonymous wrote:35 and 36
3 children ages 7, 4, 3, baby due in July
Childcare costs 1,200 a month (spouse works limited part time)

Want to move because current house/yard feeling tight. Not in dc and have about 2,200 sq ft

Not in the DC area, or just not in DC proper? What’s the value of your current home? How expensive would a home the size you need cost? I don’t think you can afford much more than you currently have. What’s your current piti? How much are you paying down debt each month?

Anonymous wrote:

Anonymous wrote:35 and 36
3 children ages 7, 4, 3, baby due in July
Childcare costs 1,200 a month (spouse works limited part time)

Want to move because current house/yard feeling tight. Not in dc and have about 2,200 sq ft

Feeling tight isn’t a good enough of a reason to take on more debt while you still have 6 figure student loans and are expecting your fourth child.

You have no college savings for your kids either?

I think this is the worst financial move you could make.

Sit tight for 2-3 years. Throw all your extra money at the loan. Pay it off then move. I honestly don’t think you will have another chance to get your financial feet under you with 4 kids if you don’t do it now. Unless you expect a big salary increase.

Actually that 4th kid is a pretty dicey financial move; we have the same number and understand why they are doing it, but own up to how it limits a lot of other options

We have about 30k 401k savings
No worries about selling our house as is with limited cost, it’s an intense sellers market where we live in a desirable
school district.

We have a 20k bonus coming in May that would bump up down payment.

Anonymous wrote:35 and 36
3 children ages 7, 4, 3, baby due in July
Childcare costs 1,200 a month (spouse works limited part time)

Want to move because current house/yard feeling tight. Not in dc and have about 2,200 sq ft

2200sqft is plenty of space. Time for you to get rid of stuff if it feels too small. I would concentrate on eliminating the college debt, increasing your emergency fund, saving for retirement, saving for your children’s college. Selling fees and costs will eat up quite a bit of your meager house equity.

When we bought our house, they wanted a 50k check deposit and that wasn't even the entire down payment.

You won't have enough for a down pay. There may be some time where you own both houses. Your savings are really low and still a lot of student loans. I wouldn't move if I were you.

Remember there are selling costs associated with selling a home. You will probably need new paint and carpet to show house you are selling. So your savings will go down even further.

If you want to casually look, I wouldn't spend more than 600k max.

Anonymous wrote:35 and 36
3 children ages 7, 4, 3, baby due in July
Childcare costs 1,200 a month (spouse works limited part time)

Want to move because current house/yard feeling tight. Not in dc and have about 2,200 sq ft

Feeling tight isn’t a good enough of a reason to take on more debt while you still have 6 figure student loans and are expecting your fourth child.

You have no college savings for your kids either?

I think this is the worst financial move you could make.

Sit tight for 2-3 years. Throw all your extra money at the loan. Pay it off then move. I honestly don’t think you will have another chance to get your financial feet under you with 4 kids if you don’t do it now. Unless you expect a big salary increase.

Your cash savings is very very low. You cannot afford to move b

35 and 36
3 children ages 7, 4, 3, baby due in July
Childcare costs 1,200 a month (spouse works limited part time)

Want to move because current house/yard feeling tight. Not in dc and have about 2,200 sq ft

Anonymous wrote:Why are you moving?

This.

I wouldn’t move until my student loans were gone. Why would you consider taking on more debt.

Why are you moving?

How old?
How likely that income will increase in the next 5 years?
Children? Ages? Plan any?

HHI 300k
Student loans 100k
Car loan 5k

20k cash savings
150k retirement
70k equity in current home

Thanks! Waiting for preapproval but just like to crowdsource!