Anonymous wrote:

We are not on a general pay scale but a special pay scale. We are also not GS-15s we are GS-14s. There are GS-15s being paid equivalently. This is beside the point and I don't want to get off topic.

You can't be on a "special pay scale" and be a GS-14 at the same time. You presented your circumstances and asked a question about what you could afford. Your circumstances are not off-topic. Two GS-14's in this area can make about 275K, maximum. Again, you are too young to be making that, barring serious abuse of the federal agency Buddy System. Is there additional income you haven't disclosed? Trust fund, or something else?

I'm curious, too.

Anonymous wrote:

Please keep posting!

OK, a question for you. You and DH are 35 and 33 years old, respectively. You've told us you are both feds with HHI 300K. General Schedule pay is capped by law at about 150K. There are accepted service positions that pay much more, but generally those are for people with significant experience in big money industries, like Wall Street. Neither of you is old enough to justify pay at higher levels.

Would you explain how you got to the top of the federal pay scale at age 33? It takes years and years to climb to the top of the 15 grade and you can't possibly have the experience necessary to have negotiated a high step level at entry.

Just curious.

We are not on a general pay scale but a special pay scale. We are also not GS-15s we are GS-14s. There are GS-15s being paid equivalently. This is beside the point and I don't want to get off topic.

Anonymous wrote:I know a million sounds like a lot, but if OP is taking an 800K loan on a 300K salary, that's only 2.7 OP's annual income. Not a lot.

Anonymous wrote:

Please keep posting!

OK, a question for you. You and DH are 35 and 33 years old, respectively. You've told us you are both feds with HHI 300K. General Schedule pay is capped by law at about 150K. There are accepted service positions that pay much more, but generally those are for people with significant experience in big money industries, like Wall Street. Neither of you is old enough to justify pay at higher levels.

Would you explain how you got to the top of the federal pay scale at age 33? It takes years and years to climb to the top of the 15 grade and you can't possibly have the experience necessary to have negotiated a high step level at entry.

Just curious.

Please keep posting!

Anonymous wrote:

Anonymous wrote:We pay $4200 rent on a 180k salary. No daycare but two kids in Catholic school. Its been doable, but only because we are completely forgoing any other expense apart from food and contractually obligated bills. Only reason we're doing it is because it's an 18 month required rotation for my husband to get promoted and the company paid for moving expenses and deposit. If you have the down payment and moving expenses in hand I see no reason why you can't handle that payment on a larger salary.

A word of caution though. In the six months we've been here, the landlords have had to replace two major appliances, deal with tree roots in the plumbing, and remediate an infestation of carpenter ants. The house is only ten years old. The recommended savings rate for house maintenance is 1% of purchase price each year. Will you comfortably be able to save that on top of the sacrifices you will already be making?

Now this is crazy not only for the income and private school but renting at that amount.

Anonymous wrote:

Anonymous wrote:OP, save a larger down payment and buy a $1 million house when you can put 30% down without tapping into retirement. I'm a little concerned that you haven't saved a larger down payment, it makes me wonder if you know how to budget. No way I'd tap into retirement and wipe out my savings completely to buy a house.

Sounds like the tapping into retirement was just a bridge loan. But I don't know why they don't just roll the proceeds of their home over into the new house at settlement. The borrowing from retirement seems like an unnecessary step.

Anonymous wrote:OP, save a larger down payment and buy a $1 million house when you can put 30% down without tapping into retirement. I'm a little concerned that you haven't saved a larger down payment, it makes me wonder if you know how to budget. No way I'd tap into retirement and wipe out my savings completely to buy a house.

Anonymous wrote:We pay $4200 rent on a 180k salary. No daycare but two kids in Catholic school. Its been doable, but only because we are completely forgoing any other expense apart from food and contractually obligated bills. Only reason we're doing it is because it's an 18 month required rotation for my husband to get promoted and the company paid for moving expenses and deposit. If you have the down payment and moving expenses in hand I see no reason why you can't handle that payment on a larger salary.

A word of caution though. In the six months we've been here, the landlords have had to replace two major appliances, deal with tree roots in the plumbing, and remediate an infestation of carpenter ants. The house is only ten years old. The recommended savings rate for house maintenance is 1% of purchase price each year. Will you comfortably be able to save that on top of the sacrifices you will already be making?