Are me and my wife crazy for buying a home where the all in monthly costs will be $4580 and our take home income is $11,500? Some variables for consideration below.
-My job has regularly scheduled essentially guaranteed pay raises ~ 2-3% a year
-I have the opportunity to work loads of overtime to increase our take home pay. Realistically I can add $3,000 extra a month without abandoning my family if needed.
-We have minimal debt of about $700 a month but have the cash to pay the debt off to $0 and have a significant amount left over. The debt is at a 3% interest rate so that’s why we haven’t yet.
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source https://www.reddit.com/r/RealEstate/comments/1ozchp9/piti_4500_take_home_monthly_11500/
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