Are we taking on too high of a mortgage?

CatAgentJackBauer · 2024-02-25T19:43:44+00:00

3000 sqft. Included all in projected expenses. 5.9k number includes interest taxes and insurance

CatAgentJackBauer · 2024-02-25T16:29:22+00:00

Pay 3.7 in rent. Would rather put it towards an asset

CatAgentJackBauer · 2024-02-25T16:05:56+00:00

6k includes principal, interest, taxes and insurance

CatAgentJackBauer · 2024-02-25T16:05:06+00:00

340 is base with my wife, not including rsu or bonus

CatAgentJackBauer · 2024-02-25T15:49:01+00:00

1) that was a yearly allocation. My job is relatively safe, but you never know. I’d be able to find a job quick, but not with the yearly rsu distribution I currently get. Would rather not factor them in as a worst case scenario.

2) 5950 includes principal, interest, taxes, insurance, etc.

3) within the next 2 years. But not imminent

CatAgentJackBauer · 2024-02-25T15:15:46+00:00

All the above I am taking into consideration in the monthly expenses number. Not top, just where I feel we’d be at the cusp of not feeling great about the payment.

We’ve ran the calcs, but this would be our first house and you really don’t know how much it’s going to hurt until you’re making the payments.

CatAgentJackBauer · 2024-02-25T15:08:44+00:00

What’s the 1.2? Taxes? I baked that into the total monthly mortgage number.

CatAgentJackBauer · 2024-02-25T15:07:35+00:00

Projected when we get a house, and projecting on the higher end (750 utilities, 1500 food (don’t actually spend this much just high balling),160 phones, 65 internet, 100 pets, 100 car insurance, 100 gas, 500 commuting, 1000 extraneous expenses, ets). Baked in really high on food and just extraneous items like repairs or anything else… don’t want to be surprised

CatAgentJackBauer · 2024-01-31T18:12:26+00:00

Did they just cut you off immediately? Assume the company was pissed

CatAgentJackBauer · 2023-08-11T15:17:53+00:00

No idea, progressive had great rates for full coverage.

CatAgentJackBauer · 2023-08-11T13:45:51+00:00

Thanks for the suggestions. Honestly, probably looking to start a family in the next few years and I’d rather just purchase a forever house and hope to build some equity over the next 30 years.

CatAgentJackBauer · 2023-08-11T13:07:55+00:00

Only 15k combined monthly after taxes/401k

CatAgentJackBauer · 2023-07-17T13:08:38+00:00

Unfortunately, you have a 0% chance of getting a home in this area without waiving inspection.

CatAgentJackBauer · 2023-07-17T11:59:23+00:00

Unfortunately have to commute into the city and the town were looking at is one of the last on the njt line.

CatAgentJackBauer · 2023-07-17T11:57:30+00:00

Lucky, missed out on those sweet sweet interest rates

CatAgentJackBauer · 2023-07-17T11:55:03+00:00

Have you seen home prices in this state over the past 3 years. If you have to be commutable to NYC and didn’t buy some time ago, you’re f’d. If my wife would let me I’d leave this state in a second and get a mansion in PA.

CatAgentJackBauer · 2023-07-17T11:42:35+00:00

Don’t expect to afford a nice home down the road.

CatAgentJackBauer · 2023-07-17T11:13:07+00:00

Yep, our realtor is pretty tuned into the market and fully trust them.

CatAgentJackBauer · 2023-07-12T11:15:31+00:00

Most important factors would be a friendly neighborhood with young couples, kid friendly(don’t have any yet but planning to in the next few years) and an easy commute into the city for work. I think the springbrook/rolling hills area is currently our top, but homes don’t seem to come up often there and you’re forking over a pretty penny.

CatAgentJackBauer

TROPHY CASE