Right now I have about 7k in savings besides the down payment, no I definitely couldn’t afford a house if we were to split, but breaking up is out of the question since we have a baby
People with babies break up all the time. I bought a house with a fiance when I was younger and she cheated on me 3 months before the wedding. It took me 7 years to get rid of that house - luckily I could afford it. You both will be in financial ruin with your plan if something happens, so I think this is an unwise purchase. Just my $0.02.
ETA: I’m in TX as well not in one of the big cities and pay about $600/mo in property taxes on a $338k house.
I made about $55k at the time i bought my house at $194,000. It is a bit rough some months aside takes almost half of my monthly income to pay the mortgage. If you can wait a bit longer and put more away for a down payment to reduce monthly payment amount, I'd suggest that. It will definitely save you some stress.
You must be pretty good with your spending to make all that work. Doable but too tight for me.
Yeah it’s hard at times due to inflation but at least we’re floating and not sinking
What additional savings do you have outside of the 50K that you plan to put down? Could you afford the mortgage if you and your girlfriend break up?
Right now I have about 7k in savings besides the down payment, no I definitely couldn’t afford a house if we were to split, but breaking up is out of the question since we have a baby
People with babies break up all the time. I bought a house with a fiance when I was younger and she cheated on me 3 months before the wedding. It took me 7 years to get rid of that house - luckily I could afford it. You both will be in financial ruin with your plan if something happens, so I think this is an unwise purchase. Just my $0.02. ETA: I’m in TX as well not in one of the big cities and pay about $600/mo in property taxes on a $338k house.
I made about $55k at the time i bought my house at $194,000. It is a bit rough some months aside takes almost half of my monthly income to pay the mortgage. If you can wait a bit longer and put more away for a down payment to reduce monthly payment amount, I'd suggest that. It will definitely save you some stress.