{ "media_type": "text", "post_content": "How expensive a house would you buy/feel comfortable buying? TC 350k (California). 700k NW (300k liquid / saved. 400k in retirement). No other debt. Pretty moderate lifestyle currently (on monthly take home of 11-12k (from salary only) spend about 5k a month (incl 2500 in rent) and generally good about lifestyle creep lately so can plan to keep spending (outside of the house / mortgage) down. Thoughts? Thanks!", "post_id": "61426e87bf3a98002c58e6fc", "reply_count": 13, "vote_count": 3, "bowl_id": "58f0df008ad7250010f8c590", "bowl_name": "Compensation" }

How expensive a house would you buy/feel comfortable buying? TC 350k (California). 700k NW (300k liquid / saved. 400k in retirement). No other debt. Pretty moderate lifestyle currently (on monthly take home of 11-12k (from salary only) spend about 5k a month (incl 2500 in rent) and generally good about lifestyle creep lately so can plan to keep spending (outside of the house / mortgage) down. Thoughts? Thanks!

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I’d feel comfortable buying a 1.5M house, putting 300k down w 1.2M mortgage. P&I plus CA taxes would be about 6500-7k monthly housing payment. Up to 84k per year housing cost - 24% of gross TC; I’d feel comfortable at that level and in CA.

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But everyone has their own preferred way of looking at the world, and these pre to pose metrics are a very simple multiplicative translation - so they literally mean the same thing.

We have very similar financials! Even though mortgage brokers say I can take on over 1m mortgage, I’m not comfortable for the total housing to take more than half of monthly take home

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I have a very similar situation. If you can lock in a low interest rate ~3 to 3.25%, you can very easily make 1-1.2M.

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You’re saying total price (assuming a 20% down payment) or just mortgage amount?

Would not do more than 3x TC

U can buy $1.3m house

You’re saying total price (assuming a 20% down payment) or just mortgage amount?

Couple other factors: are you looking for a starter home or “in it to win it” home. For the former, I’d compromise quite a bit. The latter, I’d go higher

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