eggtarte_IHB
New member
Just wanted to see what everyone's thoughts are on a debate that my wife and I are having.
We are planning on moving to Irvine because of a new job. I will be making $150,000 before taxes. My wife will be staying at home with our one year old and we are planning on having another baby. In otherwords, I will be the sole breadwinner and with 2 babies in the next year or two. My question is with 150K in savings (for a downpayment), how much can we afford to spend on a house? Factoring HOA, property tax, homeowners insurance, utililities,etc. Also keeping in mind my income to support 2 babies and wife. She thinks we can afford a house up to $890,000 max. I think probably less-much less. But how much less not quite sure as those online calculators don't factor in the cost of raising kids. Just wanted to hear from those who have kids with or without homes. Thanks.
We are planning on moving to Irvine because of a new job. I will be making $150,000 before taxes. My wife will be staying at home with our one year old and we are planning on having another baby. In otherwords, I will be the sole breadwinner and with 2 babies in the next year or two. My question is with 150K in savings (for a downpayment), how much can we afford to spend on a house? Factoring HOA, property tax, homeowners insurance, utililities,etc. Also keeping in mind my income to support 2 babies and wife. She thinks we can afford a house up to $890,000 max. I think probably less-much less. But how much less not quite sure as those online calculators don't factor in the cost of raising kids. Just wanted to hear from those who have kids with or without homes. Thanks.