It comes with a garden-level apartment that could rent out for $1400/month.

(http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221323)

is this a serious question?

(http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35223380)

assuming 30 year mortgage at 4.3% (estimate), that is $3,662.05 per month.

$3,662.05 minus $1400 for the garden apartment = $2262 (EDIT - you will be paying monthly taxes and insurance of a couple hundred bucks extra each month FYI)

Extremely doable for a couple making $215k a year. Probably a nice house too. I'm jealous.

(http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221474)

She said she wanted a 900k house on a 200k income. I said no!

(http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221334)

$140k take-home

-$18k rent

-$25k other expenses

----------------

Save like $97k/year

(http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221376)

but yeah, no nude sunbathing in backyard.

wouldn't be possible anyway even without a garden apartment, bc it's an urban neighborhood

(http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221385)

how much is it to rent a place comparable to the house?

do you need a place comparable to the house?

(http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221437)

it's put you into a position to consider overspending for housing.

i don't like buying a house so expensive under these circumstances, but if this is the house you intend to retire in, then it's probably doable.

how old are you both? how safe are the jobs? you know you are one less job away from being foreclosed upon if you get such an expensive house vs being able to live where you are at indefinitely even without a single income

edit. i forgot about the rent out apartment. that makes it a much more viable option

(http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35222465)

"how old are you both? how safe are the jobs? you know you are one less job away from being foreclosed upon if you get such an expensive house vs being able to live where you are at indefinitely even without a single income"

I'm 31, wife is 28. my job is probably pretty safe, but hers is in a cyclical industry. yeah, good point about what happens if there's a recession and we lose a job--we've discussed it.

i mean, all in as long as my job is safe i think we could afford it without dipping into savings. if i lose my job, we'd probably have to dip into savings, but we have almost $720k saved up. but if there's a recession that $720k is gonna only be like $500k (it's invested in index fund ETFs)

(http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35222510)

if one of you loses a job, i think you take steps right away to preserve cash from savings so you don't get double bitch slapped from no job and etf going to shit.

otherwise, i think you can cruise along as you are. in some sense, this is just diversifying your investments. that's good. real estate has gone up a lot recently. bad. but so have stocks. good.

(http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35222578)

I can't imagine paying $1 million and having a random living on my property 365 days a year.

(http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221667)

it's easy for me because i grew up prole as fuck.

(http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35222524)

one of your parents is going to end up in your garden renter

(http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35222603)

(http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35223398)

some of these threads are so ridiculous I wonder if people like that just want us all to pat him on the back and tell him how good he's doing. not gonna do it, no sir.

(http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35223403)

What's the ideal price of a home for couple making $215K (before taxes)?

$720K in savings is substantial. I'd say they can definitely afford the house. Aside from the down payment, if they didn't want to dip into their savings, if they rent out the room at $1400/mo and save $97K/yr, they could pay the house off, they could pay it off in 7 yrs.

(http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35223554)