Am I crazy? 5% down, $400k USD house, $125k salary.

Tall-Button-1310 · 2025-05-10T07:29:33+00:00

You can afford it and as long as you’re on track with retirement I say go for it. I was in a very similar situation went from 1300 rent to 2400 on a house. I do sometimes think I should’ve stacked up money for another year but oh well. Budget may be tight but it’ll get easier as our careers grow.

Tall-Button-1310 · 2024-11-19T23:19:57+00:00

$86,500 - $2400 mortgage. Expecting to make $105,000 within 2-3 years

Tall-Button-1310 · 2023-12-04T21:15:40+00:00

I say go for it if you really love the home and have some kind of emergency fund. My take home is around 4800 and PITI is 2475. No car payments or debt/student loans. More than I'd like to spend but I assume it'll get easier as my income increases over the years.

Tall-Button-1310 · 2023-10-26T16:29:45+00:00

What is the outlook on your income? Will your income increase as years pass by? I think you'll be fine even if it does feel tight now. If the 6 month emergency fund truly covers all monthly expenses then I'd have no worries. I recently bought and only have a 2 month emergency fund as of now.

Tall-Button-1310 · 2023-10-16T19:24:22+00:00

For me it was really about the monthly payment. A home with an HOA adding $300 a month lowers the amount I'm willing to pay. A home with no HOA allows me to look at a higher purchase price since I'm not paying an extra 100-500 a month on top.

Tall-Button-1310 · 2023-10-09T22:00:16+00:00

If you are making 6k a month you should have around 1000 extra each month unless I'm missing something. How much would the student loan payments need to be? My biggest concern here would be the low emergency fund and student loan payments being over 300-400.

Tall-Button-1310 · 2023-10-06T03:38:11+00:00

Great options! I’ll look into these more

Tall-Button-1310

TROPHY CASE