I know people who paid big bucks for their Bethesda homes but once their kids went to college, sold it for a profit and moved to our neighborhood. They pocketed around 1.5 M.

Anonymous wrote:

Anonymous wrote:.6% of gross HHI

HHI - 280k
Mortgage - 1700

We bought our TH 18y ago in a location 25 miles from DC when we made less than half of what we make now. We had a sizeable down payment from the sale of a previous house which kept the mortgage low. The house meets our needs and allows for us to live comfortably.

.6% of gross HHI
HHI - 350K
Mortgage - 2000

SFH, 20 yrs ago, bottom of housing market. MoCo. Its a boon for our family and allowed us to have a very good lifestyle.

LOL. 6%. I copied from the PP above and made the same mistake.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Only like 10% of our gross goes toward our mortgage. We bought a $700,000 house and make $550,000 per year.

OP the problem is you’re going to get weird flex responses like this one. People aren’t rushing to admit how house poor they’ve made themselves in order to have access to public schools they think are good enough and a reasonable commute. It’s unpleasant to think about and to type.

+100. The full of shit response on this board are exhausting. The need to lie/flex/word play on an anonymous board is so odd.

DP. Full disclosure. Our MCPS school pyramid is pretty low rated and my kids went to magnets. We paid very little for a huge house and really feel good about it.

PITI is 7 percent of gross but some of that gross is bonus so it feels like a higher percentage. Sometimes I daydream about moving to a bigger house but we appreciate the flexibility we have with a low mortgage. And I also like that our house isn't any bigger than our kids' friends houses.

Anonymous wrote:.6% of gross HHI

HHI - 280k
Mortgage - 1700

We bought our TH 18y ago in a location 25 miles from DC when we made less than half of what we make now. We had a sizeable down payment from the sale of a previous house which kept the mortgage low. The house meets our needs and allows for us to live comfortably.

.6% of gross HHI
HHI - 350K
Mortgage - 2000

SFH, 20 yrs ago, bottom of housing market. MoCo. Its a boon for our family and allowed us to have a very good lifestyle.

10% $2500 gross 300k
before it was paid off 2 year ago

We paid cash. FLEX!

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Only like 10% of our gross goes toward our mortgage. We bought a $700,000 house and make $550,000 per year.

OP the problem is you’re going to get weird flex responses like this one. People aren’t rushing to admit how house poor they’ve made themselves in order to have access to public schools they think are good enough and a reasonable commute. It’s unpleasant to think about and to type.

+100. The full of shit response on this board are exhausting. The need to lie/flex/word play on an anonymous board is so odd.

Some admitted it, me included! We bought an 800k house with 20% down when we were making around 200k and had two kids in daycare and a car payment. It was challenging for a while.

Currently at 6% of gross after refi'ing to 2.5%...but unfortunately we need to move a bigger place.

Last 2 houses we've bid on have gone for 130k and another 240k over ask. Insanity.

So *if* we're actually able to snag a bigger house lol we'll realistically be in the 15-30% range.

Spouse and I are in public academics so unfortunately there's minimal likelihood of meaningful income growth to come anywhere close to matching the market (let alone keep with with inflation).
If we went into the private sector (get offers frequently) we could probably double our gross, but we like our jobs and would feel guilty about the people at our institutions we'd leave behind. Not that we're special/irreplaceable or anything, but maybe we're just suckers...the current market is certainly making us feel like ones...

Anonymous wrote:

Anonymous wrote:Only like 10% of our gross goes toward our mortgage. We bought a $700,000 house and make $550,000 per year.

OP the problem is you’re going to get weird flex responses like this one. People aren’t rushing to admit how house poor they’ve made themselves in order to have access to public schools they think are good enough and a reasonable commute. It’s unpleasant to think about and to type.

+100. The full of shit response on this board are exhausting. The need to lie/flex/word play on an anonymous board is so odd.

11 percent of gross. It was over 30% when we bought 5 years ago, and it was tight with two very young kids in daycare. But we refinanced to a 2.75 rate and both got raises/promotions.

Anonymous wrote:.6% of gross HHI

HHI - 280k
Mortgage - 1700

We bought our TH 18y ago in a location 25 miles from DC when we made less than half of what we make now. We had a sizeable down payment from the sale of a previous house which kept the mortgage low. The house meets our needs and allows for us to live comfortably.

OMG. I shouldn't multitask

7% not.6

.6% of gross HHI

HHI - 280k
Mortgage - 1700

We bought our TH 18y ago in a location 25 miles from DC when we made less than half of what we make now. We had a sizeable down payment from the sale of a previous house which kept the mortgage low. The house meets our needs and allows for us to live comfortably.

Less than 10% of gross. It was probably about 20% when we bought, but salaries have gone up and we refinanced the rate down and took out cash for improvements. Net is too weird with various deductions but it’s about 15% even accounting for that. I have to say, the flexibility is amazing even having two kids in daycare. We bought a crummy house in a great neighborhood and we are fixing it up as we go.

14% of gross. Net is weird, since we pay for things like daycare, 401ks, all types of insurance, transport, and etc from the paycheck.