Personal Finance (Not Investing) • Looking back were you too conservative when purchasing the home you raised your family in?

Interesting stories here. Now I'm wondering how many times your gross income was your forever-home purchase price, folks? I wouldn't say I'm in my forever home, but the purchase price was 1.5 times our gross income. It wasn't a stretch. But did you stretch to purchase a home that was 3 or 4 times your gross income?

I guess I never thought of purchasing a home in terms of gross income. Looking back when we bought our first home, our gross household income was 67K and we paid 75K for the house. 5 years later, two kids and then single income family, our income that year was 49K and we spent $195K on our current home which we've now lived in 25 years. So yes, I guess 4x.

Location of both homes were really good - close access to schools, trails, and work.

Statistics: Posted by Nver2Late — Tue Dec 10, 2024 10:50 am — Replies 56 — Views 3494

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