What income do you think one needs to afford a $2.5M home?

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Depends but ballpark $600k

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There are literally calculators for this all over the place.

likesmartfunny

They literally want others’ opinions…

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400k

That seems low to me. Maybe if you have no other costs.

Anywhere between $400k - $5M depending on spending habits, family wealth, risk appetite, etc. etc.

I mean are you putting down 20 or 60%?

Probably 20%, maybe a bit more

2 mil

If you’re putting 20% down, you would need to qualify for a $2M mortgage.

As someone mentioned above, there are calculators for this, but rough guess is you need at least $800k plus in gross household income, probably more

Your mortgage will be like $9000 / month, just payment and interest. Add taxes and insurance and you are over $10k

Yeah I was thinking about $800K too

I think there’s this misunderstanding that people are buying $2m homes as their starter homes

If you bought a $400k home ten years ago then it appreciated then you bought a $1.2m home which appreciated, you could now have a home that costs $2m and only make like $140k a year

I think you missed the part where OP said they are putting 20% down

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