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/u/Cautious-Gold4956
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Hello All,
The wife and I are in a pickle. The last few months we have really gotten the itch to look at a houses which would be our forever home. The house would be in the 585,000 - 625,000 range in Houston, TX. From the sell of our current home we will have around 120-140k for a down payment if we go with 20% down. Together, we make 200k before taxes.
Issue we have is 1, the house we would like to buy (inventory) or build would most likely have a 3800-4200 payment with home insurance flood etc. 2, this builder has 1 more section coming available soon and the new area they will be building has a 3.3 property tax rate so this could be our last chance in the 2.4-2.8 property tax range. Our current home IS in a sought out neighborhood but doesn’t have the storage we need , for reference we have a 3% interest rate and only spend 2400 a month currently.
With the new house ,we would still be saving 20% of our monthly income but couldn’t live as lavishly. Can I get thoughts / opinions if this makes sense or if we should just stay put with the current rates as high as they’re now? We appreciate any feedback and happy to provide anymore context. Thanks!
submitted by /u/Cautious-Gold4956
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Possible Forever Home
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The wife and I are in a pickle. The last few months we have really gotten the itch to look at a houses which would be our forever home. The house would be in the 585,000 - 625,000 range in Houston, TX. From the sell of our current home we will have around 120-140k for a down payment if we go with 20% down. Together, we make 200k before taxes.
Issue we have is 1, the house we would like to buy (inventory) or build would most likely have a 3800-4200 payment with home insurance flood etc. 2, this builder has 1 more section coming available soon and the new area they will be building has a 3.3 property tax rate so this could be our last chance in the 2.4-2.8 property tax range. Our current home IS in a sought out neighborhood but doesn’t have the storage we need , for reference we have a 3% interest rate and only spend 2400 a month currently.
With the new house ,we would still be saving 20% of our monthly income but couldn’t live as lavishly. Can I get thoughts / opinions if this makes sense or if we should just stay put with the current rates as high as they’re now? We appreciate any feedback and happy to provide anymore context. Thanks!
submitted by /u/Cautious-Gold4956
[link] [comments]
Possible Forever Home
Continue reading...