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Housing affordability Q
| mildly autistic locus | 02/19/18 |
| Swashbuckling private investor double fault | 02/19/18 |
| mildly autistic locus | 02/19/18 |
| Hot walnut native patrolman | 02/19/18 |
Poast new message in this thread
Date: February 19th, 2018 10:38 PM Author: mildly autistic locus Wife and I looked at a really nice place today that she is in love with. The price is more than I wanted to pay, but would be about 30% of our after-tax takehome in the first year (wife is starting a new job and should double her income in the next five years; I am a senior associate with some chance at making partner somewhere in the next five years). Is that too much? We have no kids (yet) or other major expenses (student debt paid off). We currently save 70% of our after-tax income but that % would drop if we bought the house. (http://www.autoadmit.com/thread.php?thread_id=3898068&forum_id=2#35441657) |
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Date: February 19th, 2018 10:41 PM Author: Swashbuckling private investor double fault Sounds reasonable. I think Housing expense should be no more than 1/3 of income. So you're about there, slightly under. It also sounds like you save a lot but would still save a lot, if less.
The question is, how badly do you want this house? Is it an ideal dream house? I am the type where I would rather watch my money build and I hoard it like crazy and can live in a more modest home where as other want to "stretch" a bit with flashier digs. No qualms with that it's just a personal preference. In your case though, it sounds like you could swing it and just be reasonable in other life expenses. Why not go big or go home if you want to? |
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Date: February 19th, 2018 10:47 PM Author: mildly autistic locus It is a dream house. We would never move again. I guess I just feel uncomfortable (as a risk averse person) making such a significant lifestyle upgrade all at once. I feel like I would be losing control. (http://www.autoadmit.com/thread.php?thread_id=3898068&forum_id=2#35441732) |
Date: February 19th, 2018 10:40 PM Author: Hot walnut native patrolman lol (http://www.autoadmit.com/thread.php?thread_id=3898068&forum_id=2#35441676) |