How much did you spend on your house?

posted 2 years ago in Finances
  • poll: Which one are you?

    We spent less than what the calculator says we could afford

    We spent about what the calculator says we could afford

    We spent more than the calculator says we can afford

    Other (explain)

  • Post # 106
    Member
    3140 posts
    Sugar bee

    View original reply
    @dianaj17:  We’re in a very similar situation. We did a bunch of house hunting a year ago, which even then things were pretty crazy with anything decent selling within a day or two of hitting the market at well over asking price. But ultimately decided to renew our lease because there’s a very likely chance we would only be in our current city 2 more years max. We just renewed it again for one year cause we weren’t about to touch today’s market wit ha 10 foot pole. I pray this is our last year in this city. We are sooo ready to buy a house but with the insane market and the likelihood of us moving out of state in a year it just doesn’t make sense right now. I’m jealous of your 850 a month rent though! We live in a very moderate (at least releative to NYC/California) cost of living midwestern city but are paying over double that for our 3 br/1.5 bath townhouse…womp womp.

    Post # 107
    Member
    901 posts
    Busy bee

    View original reply
    @megs229:  Haha, I live close. In the hills. It was crazy expensive (by normal America standards) to buy, but I love the climate, the parks, the bay views. 

    To be honest though, renting around here is far cheaper than buying, so you’re probably better off. We rented our home briefly and our rent covered just mortgage. Not property tax, which is substantial. The only landlords who make money off renting here are those who bought super cheap back in the day, and have virtually no mortgage, and are also locked into super low property taxes based on their buying price! 

    Post # 108
    Member
    2052 posts
    Buzzing bee
    • Wedding: June 2019

    We spent WAY LESS than this calculator says we can afford. Like, $80,000 cheaper. I think it’s lying XD I put in all our info on the “advanced” filter and it said $310,000. We spent $235,000 hahah 

    I think the VA loan helps a lot though. No PMI, extremely low interest rate. But despite that, I would never say we are putting away a ton of money every month, nor spending frivolously. With my husband as our only income for now, this is what made sense to us, and we were far more interested in being conservative rather than testing our strengths.  

    Post # 109
    Member
    9562 posts
    Buzzing Beekeeper

    About a third of what it comes up with. We love everything about our place, so didn’t really feel the need to spend more. I do want to get around to redoing our floors one way though 😂

    Post # 110
    Member
    459 posts
    Helper bee
    • Wedding: June 2022

    View original reply
    @techmom:  totally agree with everything you said!! i would love to be able to buy here for those reasons! so much nature around and just really love the diversity. as you said it is def easier and sometimes better to rent here than buy for sure! we will likiely rent for another 1-2 years, save as much as we can, and then try for a house here and if that doesn’t work start seriously applying to jobs other places and see what happens 🙂

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