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   Chris Wiegman (chris@mastodon.chriswiegman.com)'s status on Monday, 08-Jan-2024 04:43:39 JST Chris Wiegman

   in reply to

   • Aurooba Ahmed

   @aurooba we know plenty like that. As soon as we can sell the Florida house we won’t even have a mortgage and I’m only 12 years into my tech career. Friends and family 20 years in will never pay off their houses. As soon as they get any equity they pull it out. Living paycheck to paycheck on $400k per year is so crazy to me and so much of it is for these giant houses.

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     Aurooba Ahmed (aurooba@mastodon.aurooba.com)'s status on Monday, 08-Jan-2024 04:43:47 JST Aurooba Ahmed

     in reply to

     @chris honestly the business of housing expenses being a large chunk of your pay is wild to me. We should all be working to undo that for everyone, not propagate it.

     I know people for whom, housing stuff is 60-70% of their annual expenses because they bought or rent so outrageously. It's wild.

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     Chris Wiegman (chris@mastodon.chriswiegman.com)'s status on Monday, 08-Jan-2024 04:43:48 JST Chris Wiegman

     in reply to

     • Aurooba Ahmed

     @aurooba were the same way. It is a bit sad that such a position is considered so strange today that we feel the need to post about it (I’ve done the same in the past).

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     Aurooba Ahmed (aurooba@mastodon.aurooba.com)'s status on Monday, 08-Jan-2024 04:43:50 JST Aurooba Ahmed

     in reply to

     When we bought our home, we were lucky to be able to buy way below what we were approved for, at a cost comfortably affordable even if we went from a dual to single income household.

     Our home has plenty of space to grow into, in a neighbourhood we love. It's not perfect, but it's great.

     Could we have bought a better home in an even better neighbourhood for double or triple the cost? Yes, technically we could afford it and were approved for it. But that would not be a sound financial choice.

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     Aurooba Ahmed (aurooba@mastodon.aurooba.com)'s status on Monday, 08-Jan-2024 04:43:51 JST Aurooba Ahmed

     Had a weird conversation today with someone looking to buy a house, who is only looking at homes at the top of their bank approved mortgage limit.

     Just because the bank approved you for a million dollar mortgage doesn't mean you should take them up on it, y'all. Mortgage approval numbers are not the same as speed limits.

     Buy a house you can comfortably afford, that you can reasonably grow into, in a neighbourhood that works for you. Buying unnecessarily expensive homes is silly.