Submitted by Saranac233 t3_11knhji in personalfinance
Our mortgage is $600 a month and that includes taxes and escrow. It’s a starter home that we bought in 2005. We owe about 60k on it.
No car payments. No cc debt. One student loan with one year of payments left. No other debts.
With our recent raises we are now earning 120k a year.
We have been pre approved and have looked at houses. But I don’t like most of the houses that I’m seeing for sale because they are way overpriced, need work, or have some other downside.
My fear is that I don’t want to get locked into a large mortgage payment and give up my ultra affordable mortgage payment. Our current mortgage affords us a ton of savings and purchasing power.
At the same time my wife’s home office being shared with the living room, stone driveway, no ac and a leaky basement are getting old.
Maybe I need to think about this from a different angle.