Anonymous wrote:Part of this isn’t going to be relevant- housing bubble will have to break at some point. After the orange man, we will see the cost of housing and housing materials decrease. Yes, this means less equity, but it also means a better life for the younger people.

Anonymous wrote:$500k at today’s prices and rates.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Oh and I’ll add- this is still a generous budget because sometimes you just don’t do all of the above, all at once. Some years it’s staycations or day trips. Maybe you do a little less in the kids 529s sometimes. Maybe you drive a paid off beater for awhile. Lots of ways to flex on this. Housing and childcare are tough. Big line item that can be hard to compromise on. Contrary to DCUMs most prolific posters, it is possible to find a house for 700k within a 45 minute drive. Just not a 6k square foot new build in Arlington.

45 minute drive in rush hour with good schools?

Yep- try 20902 (close to Wheaton), or 20910 or parts of PG County, like another poster mentioned. Of course, you will be attending schools with Black and brown children. It will be ok though, I promise.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Part of this isn’t going to be relevant- housing bubble will have to break at some point. After the orange man, we will see the cost of housing and housing materials decrease. Yes, this means less equity, but it also means a better life for the younger people.

Unfortunately the tariffs will drive up the cost of living substantially. American's have come to expect cheap goods and our economy depends on it. People want 10 pairs of pants at $40 not 2 pairs at $250 like 100 years ago. It's fiction to think people want to go back to a world where every day items are super expensive but "higher quality and made in the USA".

Clothing used to be good quality. Also washing machines used to be more gentle on clothes and they didn’t get worn out so quickly. Fashion used to emphasize more of a classic style so people didn’t feel out of style so quickly.
Those 10 pairs of pants are cheap because they have been sown together by children in a third world country and will also fall apart quickly because the thread that was used for sewing was super cheap.

Anonymous wrote:

Anonymous wrote:Oh and I’ll add- this is still a generous budget because sometimes you just don’t do all of the above, all at once. Some years it’s staycations or day trips. Maybe you do a little less in the kids 529s sometimes. Maybe you drive a paid off beater for awhile. Lots of ways to flex on this. Housing and childcare are tough. Big line item that can be hard to compromise on. Contrary to DCUMs most prolific posters, it is possible to find a house for 700k within a 45 minute drive. Just not a 6k square foot new build in Arlington.

45 minute drive in rush hour with good schools?

Anonymous wrote:

Anonymous wrote:Part of this isn’t going to be relevant- housing bubble will have to break at some point. After the orange man, we will see the cost of housing and housing materials decrease. Yes, this means less equity, but it also means a better life for the younger people.

Unfortunately the tariffs will drive up the cost of living substantially. American's have come to expect cheap goods and our economy depends on it. People want 10 pairs of pants at $40 not 2 pairs at $250 like 100 years ago. It's fiction to think people want to go back to a world where every day items are super expensive but "higher quality and made in the USA".

Anonymous wrote:Part of this isn’t going to be relevant- housing bubble will have to break at some point. After the orange man, we will see the cost of housing and housing materials decrease. Yes, this means less equity, but it also means a better life for the younger people.

Anonymous wrote:250-260k is the answer (if the 2 kids are early elementary. If they’re in daycare and at the same time,bump this up closer to 300k), Specifically, that gives an effective tax rate of between 15-18% with state and local taxes of 5-6%.

700k house assuming you put down 20%) means $2500 approx PITI + 500/month to save in a house repairs fund. - 3k

Retirement- if early in your careers, something in the range of 3k/month into 401ks will do it.

College savings for 2 young kids, for 100% funding at in state public- 2k/month

2 cars, insurance, fuel- used, 25-35k each car financed - $1,600/mo

Comfortable domestic vacation for 4 at 8k (650/mo)

Additional Rainy day savings, 1k/month

Household- groceries + some eating out), Utilities, phone, cable; life insurance, clothing misc, kids activities- 3,500

Charitable giving- 200/month

And then adjust according to your priorities and preferences.

Anonymous wrote:Oh and I’ll add- this is still a generous budget because sometimes you just don’t do all of the above, all at once. Some years it’s staycations or day trips. Maybe you do a little less in the kids 529s sometimes. Maybe you drive a paid off beater for awhile. Lots of ways to flex on this. Housing and childcare are tough. Big line item that can be hard to compromise on. Contrary to DCUMs most prolific posters, it is possible to find a house for 700k within a 45 minute drive. Just not a 6k square foot new build in Arlington.