Anonymous wrote:A lot of people don't want to live in Silver Spring so do not even consider it to be an option. Sorry but it's true.

Anonymous wrote:people here are snobs - it's so obvious.

silver spring is low rent as far as they are concerned. Wouldn't be caught dead there.

Anonymous wrote:I have already said on here that I bought at the peak of the market, NOT before 2003, and there were still then and still are now lots of good houses for 500k or less in Silver Spring. I live in one of them and my commute to downtown is between 30 minutes and an hour (heavy traffic). I don't know what people here are talking about.

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Anonymous wrote:PP what metro line do you need to be near? Because we recently bought a house (with 2 bath and central AC) for 450k. Within a 20 min walk (or shorter bus ride) to metro. House needs some updating but at that price point we could do it. This is in MD though, we struggled finding something even remotely comparable in VA.

That's bc VA is way better. Higher demand.

How so?

Anonymous wrote:

Anonymous wrote:PP what metro line do you need to be near? Because we recently bought a house (with 2 bath and central AC) for 450k. Within a 20 min walk (or shorter bus ride) to metro. House needs some updating but at that price point we could do it. This is in MD though, we struggled finding something even remotely comparable in VA.

That's bc VA is way better. Higher demand.

Anonymous wrote:PP what metro line do you need to be near? Because we recently bought a house (with 2 bath and central AC) for 450k. Within a 20 min walk (or shorter bus ride) to metro. House needs some updating but at that price point we could do it. This is in MD though, we struggled finding something even remotely comparable in VA.

Anonymous wrote:So many smug people on this thread! He's a cookie for you now let's move on...

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Anonymous wrote:250k hhi with a mortage of 650k or so should be perfectly manageable unless you have twin 2013 Lexuses or $150k of student loan debt.

it's when you start going to mortgages that are more than 4x income that you start getting iffy.

This sounds nuts to me, though I am starting to think we're the exceptions in this area rather than the rule. We have a HHI over $250K and our house is worth more like $500K and we have two older used cars. No student loan debt and mortgage is nearly paid off. Living below our means has kept us secure and happy, with big retirement and college funds.

But if you die before retirement, you only lived in austerity, ya know? I do believe it's possible to live too much in the future that you don't enjoy the present.

I think of being house poor as living in austerity. Different people different choices. Early in our marriage (actually in the six month prior), we decided to save one of our take home salaries and live off the other. That decision has paid off in many ways, giving us the flexibility to choose jobs we like rather than go for the bigger high pressure bucks. It has allowed one of us to reduce hours when our children's needs required more parent time. It has allowed us to fully fund their college before they enter HS and nearly fully fund retirement. It has allowed us to take some great vacations. Plus, smaller house means less to keep clean, lower utilities, lower taxes........ For us, it is a win-win-win.

I would love to make this choice, but we are looking for a place right now and just don't see anything in a decent (not even great) school district near a metro that doesn't require an hour-plus commute to our work and is below 650,000. And we fine with 1 bathroom, ac units, and unupdated kitchen though the house can't need work. I agree that you can be smug about your small-living choices if you bought before a certain date. After that, you can choose a small house all you want, but you are still going to pay a lot more for it than is comfortable.