trolly man wrote:
MatthewXCountry wrote:
If you are really making 450k like the title says, why are you looking at houses that only cost 900k? You could easily afford a house worth 2 - 5 million and continue to save a ton.
He mentioned in another post that he only wants a mortgage based on his base salary because a bonus can, by definition, not be paid.
Even at a 200k base, he should be able to afford a loan of at least 1.2 - 1.5 million very comfortably and save as well. Additionally, if he is really making 475k with the bonuses he should have several hundred thousand in the bank reserved for a downpayment. This still begs the question, why look at terrible 900k houses? While I don't think you should spend more than you can afford, just by looking at 1.2-1.3 million dollar homes he could get something he likes that won't break his very large bank. If he's not willing to pay 1.2 million on his salary then more power to him for being frugal. But those 900k houses are being bought by people making closer to 100k than 200k, and there is a ton of competition at that price point.