🔺 r/personalfinanceuNo_Show711·23 days ago
Is buying a moderately expensive house still worthwhile?
Me and my wife are 30 and live in a relatively lower-middle cost of living area. Right now we are renting a pretty affordable place (it costs us about $1500 total to live here per month). No kids (possible in future), combined pre-tax income of 225,000. We have considered buying a house now, but we really have no desire to have a “starter” house. Basically it’s either a live 10+ years here or nothing is what we are looking for, and the houses we would want are around 450-500K at most. Our only debt is some car loan debt. On one hand, cheap rent means we can be putting money aggressively into 401K and other investments, but to me it’s a boring lifestyle. Where as a house, may not yield as much money, and costs money, but at least we are directly getting something out of it. Even if we buy a house we will still have our 401K investments but just wondering if you were in our shoes do you think we are dumb or it’s fine to buy a house? We also have good credit (780 or somewhere abouts) and we would put enough down to avoid PMI but probably not much beyond. Thanks for insight. submitted by /u/No_Show711 to r/personalfinance [link] [comments]