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o2msc t1_j6j032p wrote

You have a household income of $175,000 and already have over $100,000 in equity from your current home to put down on a new place. You could easily afford the houses in the price range you are looking at now. Where’s your money going? A $400,000 house with 100k down would leave a mortgage payment of roughly $2,000. On your income that is extremely affordable. So where’s your money going? Lol

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Pronoia4 OP t1_j6j1q50 wrote

Nowhere. But I’m planning so it’s as easy as it can be. I’m about where I expect to get in my career. An extra 100k out is essentially a year of my working life gone. I’m absolutely prepared to spend what makes sense and live a good life, but I don’t want to be stupid about it.

Plus, with interest rates where they are, the smaller the loan has to be the more we save over time. I’d just like to be responsible so when that dream home comes up we’re in the best position we can be.

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o2msc t1_j6j33a0 wrote

That’s the point I’m trying to make. You are in the best position right now. If your dream home is 400-500k you can afford it now on your income with your current home equity.

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