{ "media_type": "text", "post_content": "Is 1.68 for a townhouse is expensive for house hold income ~600k? we can do 20% down. I am just nervous as we are in the hook for $7.5k mortgage every month including property tax, hoa and insurance. Just can’t seem to decide or let go!", "post_id": "614bcab2720c12002b604161", "reply_count": 30, "vote_count": 3, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Is 1.68 for a townhouse is expensive for house hold income ~600k? we can do 20% down. I am just nervous as we are in the hook for $7.5k mortgage every month including property tax, hoa and insurance. Just can’t seem to decide or let go!

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If you are in SF, owner occupied rentals are quite common for townhouses. Lease out the bottom unit for the market rate ($1500-3500/mo. depending on the # of bedrooms). You can still keep the nice parts of the house to yourself and reduce the monthly

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With that kind of household income, you should be able to answer basic personal finance questions. If not, spend some time to learn how to manage your money - it’ll be worth the time investment.

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“Is $1,680,000 expensive? We have $336,000 to put down and I am going to pay $7,500 a month.” Please, say that out loud to yourself, than leave.

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Tell me you live in SF bay area/NYC without telling me you live in SF bay area/NYC

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I got to stay in Marina del rey for a project once. Would be a dream to live there

$1.68!? sign me up.

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600k? You can get 2 of those

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Yes, $1.7M is expensive.

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I just moved from SF to DC and I’m building a brand new townhome for $675k. Sorry buddy, SF just isn’t worth it anymore. I would pull the plug and consider relocating to another city where your dollar goes further. You can but a huge house in DC for $1.68M. I laugh at these SF fools now 🤣

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Pwc3 is a LIAR 😂😂😂

You after tax income per month is 25-30k. You are fine.

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@600K a $1.68M house is perfectly affordable. We bought one for $1.5M when our income was under $500K and the interest rate was 1.25% higher … we still had a considerable amount of savings

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But to answer your question, yes, it does look like unreasonably high.

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Conservative rule is 3-3.5 times your income on mortgage. So you’re below that

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Screw HOA fees.

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New York?

I think it also depends on your salary trajectory. Do you expect your salary to go up or at you expecting to ramp down at any point?

$600k you earn a lot of money but I will not go for $1.68M townhouse. Understand in Bay Area, that’s probably a common rate

Yes do it

I wouldn’t pay that much for a townhouse either. How many sq ft. is that? Is bfast delivered to your door every morning as an amenity? What are the amenities?

A townhouse? Nah.

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