Anonymous wrote:

Anonymous wrote:HHI $230k plus $50k annual bonus. PITI is $3100 and we are slowly renovating our house for 100k over next year. We stretched our budget on this house but feel comfortable with mortgage and will increase equity by $300k once renovations are complete. Currently trying for our first child and then things will feel tight.

What are you doing for 100k that's going to triple your investment?

Bought low (house sitting for a long time after being overpriced and needing work) right at pandemic in a up and coming neighborhood, we are doing most of the work ourselves (both handy), and a family member (professional contractor) is helping with the more technical stuff for a big discount. Luck and hard work. Since the pandemic our house value has also increased by $100k although I’m not really counting on that.

About $1950, plus $1250 condo fee, plus taxes... About 3300. Wow, adding it up makes me realize we should really be living in a house instead of this crumbling (but well-located) apartment.

PITI is $3500. We make $240k. Two kids and a full time nanny in a flyover state. Mortgage is $620k, house is valued at $850k. We definitely feel very house poor. Love our house VERY much, but I worry how we will afford any major repairs.

Nanny should be way cut back within the next 3 years and that will help tremendously.

After tax or before tax?

$250k income and I pay $2650 a month. Actual PITI is $500 less but I add that much. 1 teen, so no childcare costs. I like not having to stress about the mortgage, and don’t need to live in the most expensive or exclusive neighborhood I can.

$1700 PITI. We make 250, but live on half our HHI and are completely comfortable.

It doesn’t matter what anybody else does. Because your age, potential for raises, retirement goals, spending habits, risk tolerance, kid situation, etc etc etc could be so different from theirs.

Kind of work backward from what you’re paying now and how that’s going. How comfortable would you be going up $x?

And there you go. But everyone already knows to do this. I guess we all just want to compare.

So, yeah, $3000 would be my max. We pay $2000 now, after a refi.

$275k HHI plus bonus, $2900 PITI. Was $3300 before we refinanced to a new 30 year; we kept the payment the same and just put the extra toward principal to end the loan ahead of even the original schedule. Oh, and keep up with the never ending tax increases. We are comfortable even with 2 kids in daycare because the bonus money pays for all repairs and upgrades. It would probably be a bit tighter without that money, but we’d by no means feel poor or stretched.

Anonymous wrote:HHI $230k plus $50k annual bonus. PITI is $3100 and we are slowly renovating our house for 100k over next year. We stretched our budget on this house but feel comfortable with mortgage and will increase equity by $300k once renovations are complete. Currently trying for our first child and then things will feel tight.

What are you doing for 100k that's going to triple your investment?

Anonymous wrote:We stretched, 4600 PITI when we made 250K with two years of daycare left. It was very tight, particularly because our older home has needed near-continuous repairs, but now our income is 355K and it's comfortable. So take income projection into account.

Did daycare help and then you got more income? What seemed to have helped more?

2400, we have daycare for 2 right now so that feels about right.

$3800 and it feels fine. 2 elementary aged kids.

HHI $230k plus $50k annual bonus. PITI is $3100 and we are slowly renovating our house for 100k over next year. We stretched our budget on this house but feel comfortable with mortgage and will increase equity by $300k once renovations are complete. Currently trying for our first child and then things will feel tight.

Anonymous wrote:2450 includes PITI

… mortgage is ~ 20% LTV

^but I live in a state with high property taxes and no income tax, so $1100/month of a $3200 PITI is taxes.