How do you get over the sticker shock of spending so much on a mortgage?
I'm in my late 20s making nearly $100k before bonuses and have very good credit, by the time I want to buy next year I will have $80-85k to put down and no other debt. Mortgage calculators say I can afford about $2800 (inclusive of HOA, PMI, taxes, and housing insurance), roughly mid $500ks without an HOA. The mortgage would be more than $1000 than I pay in rent now, it seems so crazy.
There's also the fact that I want a bigger/nicer/better location condo than my apartment now. Once HOAs are factored in there are very limited if any options that I could afford.
I want to buy and I feel like that's what I should be doing, but maybe it's best to wait a bit longer.
Submitted October 25, 2021 at 01:58AM by beergal621 https://ift.tt/3CdtpOc
