Whats the most you would spend

Realistically on a home?

Message edited 8/15/2005 10:37:58 AM.

Re: Whats the most you woule spend

Realistically, right now with the jobs JT and I have, probably 400K. In about five years, more like 600K. We're both pretty much starting out in our careers, and while I don't make that much money, in about 5 years, JT will be doing REALLY well.

Re: Whats the most you would spend

400-430K MAX

ETA. depending on the taxes

Message edited 8/15/2005 10:39:36 AM.

Re: Whats the most you would spend

right now we can't afford to even buy a home but since we are planning to move out of state in the future, probably 300 k max. this considering that we both go back to school and have better careers.

Re: Whats the most you would spend

We cannot FIND a decent home in Westchester for less than 520K BUT that is also our Max...

really anything NICE (and I'm talking starter home nice) is 599K Hence the reason we are still stuck in our co-op!!

ETA: Let me clairify: If we were willing to go further north in Westchester, then prices would drop and the 400K range would become a bit more reasonable.. presently I am 1 hour commute (door to door) and Dh has about a 1hr drive each way.. I would consider moving slightly further north, but we cannot do that as long as DH works on Long Island .. And with a baby coming, I don't want our lives spend commuting 3 hours a day either

Message edited 8/15/2005 10:45:30 AM.

Re: Whats the most you would spend

right now - $300

next year - $450

Re: Whats the most you would spend

We got lucky & found our house, it was $20,000 less than our absolute max. We spent $335,000.

We wanted to buy a home that we could personalize easily, and expand as we wanted to, and we have that with this house. In about 2 years or so (depending on DH commisions at work & our tax returns) we will add a 2 car garage, and entire second floor with a master suite and 2 brs, and a sunroom with an all-season pool. The house that we purchased is on a large piece of property & is situated in a perfect spot for easy expansion. So we spent less on the hosue knowing that we would put a lot into it relatively soon.

Message edited 8/15/2005 10:46:24 AM.

Re: Whats the most you would spend

I would like to own a home in the 500K-600K range. Unfortunately, right now, that is not possible, so we own a condo.

I am also not interested in buying a fixer upper..

Re: Whats the most you would spend

Max is about $475 right now.

Re: Whats the most you would spend

it's such a hard question.

Right now, we're in NJ, but only 5 miles from Times Square (NYC).

We wanted to hold on to our condo and rent it out. But, the value SKYROCKETED.

So, if we sell, we could buy a home for $400. our max would be $450.

Based on our "lifestyle" and wanting to start a family soon, I think that whatever we do, within the next few years, we're going to end up in the home that we will raise our family in.

Re: Whats the most you would spend

From when my parents were looking, it seems like you need at least $400K to buy a new home. We're not going to look for a home for years so the amrket may change. but by today's pricing I think we'd be looking in the $450K range... not that we will be able to afford that for years..hence the waiting

Re: Whats the most you would spend

$550K - but things would be very tight. And it's only that much because we already own a home.

Re: Whats the most you would spend

We talk about this all the time - and FI and I have decided that we really don't have a "max" of what we would spend. Our max is determined by the house and how it fits into our long-term goals. We want to be by the water - so we'll pay for it....knowing that we won't be sorry 15 years from now.

Of course, we have a max as to what we can realistically afford - but we're likely to stretch that too.

Re: Whats the most you would spend

400,000

I know that's probably a small house too!

Re: Whats the most you would spend

$500K-$515K

Re: Whats the most you would spend

We'd be willing to go about $750K. BUT, that is because we have a home already to sell and we'd be looking for the sale profits on our current home to upgrade.

Re: Whats the most you would spend

Posted by FeliciaDP

We cannot FIND a decent home in Westchester for less than 520K BUT that is also our Max...

really anything NICE (and I'm talking starter home nice) is 599K Hence the reason we are still stuck in our co-op!!

ETA: Let me clairify: If we were willing to go further north in Westchester, then prices would drop and the 400K range would become a bit more reasonable.. presently I am 1 hour commute (door to door) and Dh has about a 1hr drive each way.. I would consider moving slightly further north, but we cannot do that as long as DH works on Long Island .. And with a baby coming, I don't want our lives spend commuting 3 hours a day either

Message edited 8/15/2005 8:44:52 PM.

Re: Whats the most you would spend

Since we already own a home, I have always thought how much would we be able to afford now. It seems impossible to afford anything anymore.

Re: Whats the most you would spend

Re: Whats the most you would spend

Wow this amazes me!
DH and I both make very good money and we spent $286K on our house here in Colorado and our mortgage is less than $1500 a month including taxes. I can't imagine spending $600K on a home unless we literally doubled our salaries.
I think I have been gone from NY too long. I get serious sticker shock at what you all have to pay.

Re: Whats the most you would spend

$400k maybe more for a m/d house