Thinking about buying an 850k home. We make 318k together and spend about $11,700 a month, which will probably jump to 13,400 because we’ll be expecting to add day care and possibly another child.

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WTF... how do you spend 11.7k every month 😮...genuinely curious

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The home fits our needs but I don’t want to have to cut back on our lifestyle. Would you guys go for it or find a cheaper home? Obv looking for some validation or someone to help me back out of it :)

This doesn’t Include our savings

How do you spend $11,700 already without a mortgage? Also I think buying a home within your means is a key question but what about other factors like ROI, appreciation, etc?

just earn more money, then you'll be good to go.

This is nearly our identical scenario...add about another 100k to income and that's us. Bought house 850k. 100k in reno, another 40k to furnish. Monthly expense is now 13.5k, but that includes an additional 2k extra payment to principle, and also 2k mortgage on a rental property. You can certainly afford it. But you wont be able to save at an accelerated rate until you get income higher.

Same situation just 90k more I’m salary. And we are also buying home for 850k. Not sure about all other expenses because we havent closed yet.

We make about $350k, bought a house for 680k, and have two kids- still don’t spend more than $8k a month. Suburbs of NYC, high tax area. I think you can afford 850k if you reduce your expenses.

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