This has become a huge problem and is causing fights. Here me out.
Me and my partner live in Sacramento, CA. We have a combined monthly income of 8,000$ USD after taxes, take home. We have 140k saved up over the last 5 years for a down payment/savings. 1 kid on the way in January 2022. 1 dog. School loans, but only total 1,000$ a month. Very comfortable life, saving extra money right now too by living with parents...
But we cannot for the life of us agree on a house to buy.
My partner thinks we need to target 400k homes, low or mid 400k, maybe 470k or 480. No higher than 500k. This is for a 3 bed 2 bath with a backyard, mind you. HOWEVER home prices in the current market for a good new home with what we want are 500k base, the houses we like most are 530k MINIMUM. I'm talking about the houses that make our eyes light up and get excited when we see them. 530k homes mean 2,700$ a month payments (total, including taxes, HOA, mello roos, etc.). Affordable payment for us, I thought. 470k houses are like 2,300$ a month, not a big different in cost but a big difference in house quality, so an extra 400$ a month for the better 530k home, taking into account our 8,000$ monthly salary (minus 1,000$ monthly school loan payments, insurance, etc.) is totally reasonable for us and a good investment we would love to live in...
But my partner absolutely refuses. They say I am irresponsible with money and it makes them sick to think about getting a 530k home. I don't get it. 530k homes that we see here are in better neighbourhoods, are 2019/2020 new constructions instead of 1980s, 1990s to early 2000s construction, have bigger more modern interiors etc.... but my partner just won't budge. They keep saying that I don't understand how to be responsible with money, we should only pay under 25% of out total income or we are fiscal fools.
Am I crazy? You can't even get a Sacramento home nowadays without overbidding by 20k. Is 530k for a home when you make 8,000$ monthly truly an irresponsible idea?
Me and my partner live in Sacramento, CA. We have a combined monthly income of 8,000$ USD after taxes, take home. We have 140k saved up over the last 5 years for a down payment/savings. 1 kid on the way in January 2022. 1 dog. School loans, but only total 1,000$ a month. Very comfortable life, saving extra money right now too by living with parents...
But we cannot for the life of us agree on a house to buy.
My partner thinks we need to target 400k homes, low or mid 400k, maybe 470k or 480. No higher than 500k. This is for a 3 bed 2 bath with a backyard, mind you. HOWEVER home prices in the current market for a good new home with what we want are 500k base, the houses we like most are 530k MINIMUM. I'm talking about the houses that make our eyes light up and get excited when we see them. 530k homes mean 2,700$ a month payments (total, including taxes, HOA, mello roos, etc.). Affordable payment for us, I thought. 470k houses are like 2,300$ a month, not a big different in cost but a big difference in house quality, so an extra 400$ a month for the better 530k home, taking into account our 8,000$ monthly salary (minus 1,000$ monthly school loan payments, insurance, etc.) is totally reasonable for us and a good investment we would love to live in...
But my partner absolutely refuses. They say I am irresponsible with money and it makes them sick to think about getting a 530k home. I don't get it. 530k homes that we see here are in better neighbourhoods, are 2019/2020 new constructions instead of 1980s, 1990s to early 2000s construction, have bigger more modern interiors etc.... but my partner just won't budge. They keep saying that I don't understand how to be responsible with money, we should only pay under 25% of out total income or we are fiscal fools.
Am I crazy? You can't even get a Sacramento home nowadays without overbidding by 20k. Is 530k for a home when you make 8,000$ monthly truly an irresponsible idea?
Last edited: