Looking to buy my first home in the next 6 months or so. After lots of reading and research on this sub-reddit and other sources, I think that we are in a place where we are ready to buy, but I would like additional input.
Our current finances.
- Household Gross Income: 81k
- Current Rent: $916 a month
- Credit Card Debt: $0
- Student Loan Debt: 25k, currently paying $460 a month
- Car Payment: $282 a month
*These are the only obligations, everything else in our budget is discretionary
We will have 10k saved toward a home (outside of our emergency fund). We are looking to buy a home in the 175k-195k range in a relatively low cost of living area.
I realize that this is not the cookie cutter way to buy a home (no debt, full 20% down) but for us the opportunity cost of continuing to rent is becoming less and less ideal. So I would love input as to whether, given our finances, we would be realistically able to afford a home of 175k-195k. Thank you so much in advanced!
Submitted August 03, 2018 at 10:07AM by thebobros https://ift.tt/2KqXMoC
