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Re: Homebuying, mortgage help needed! [patentattorney] [ In reply to ]
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It is really complicated. I do know that in expensive markets the % of income used on housing is way higher than say in the Deep South or Midwest. I think you need to figure out where you want to live then figure out a way to check the boxes to get there. The realtors all say location, location, location and they are probably not far off from being right. With the big chunk you can put down and wanting to keep the house for a long time you can probably spend more than your original ceiling.
My personal advice is not to get too house poor and can't be able to enjoy the other parts of life than home ownership. Good luck.
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Re: Homebuying, mortgage help needed! [patentattorney] [ In reply to ]
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patentattorney wrote:
Taxes overall don’t matter too much on what you can afford. It is going to great matter on what is the better investment long earn but not what you can afford.

If property tax is 3% but with no income tax vs 2% with a 5 % income tax. On a million dollar home (10g difference in tax) and making 200g a year (10g difference in tax), there is no effective difference on what you can afford.

Obviously the investment sides of things matter.

Yet in the same town it makes a huge difference, n'est pas?
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