Hey everyone, looking for honest feedback before I move forward.
I’m 25, dual income household, both work from home. Planning for a kid in a few years + we have 2 dogs, so space matters (looking at 3-bedroom homes for offices + future family setup).
💰 Income:
Household take-home: ~$10,750/month (after 10% 401k + employer match)
~ 7k in bonuses per year
🏡 House Details:
Purchase price: $400,000
Interest rate: 5.5%
PMI: ~$170/month
Total monthly (all-in w/ utilities): ~$4,000
📉 Seller concessions:
2-1 rate buy-down:
Year 1: ~3.5%
Year 2: ~4.5%
Then back to 5.5%
👉 Plan is to either:
save the difference, or
attack principal early
💰 Cash Position:
~$30K saved currently
Will have ~$10K left after closing
📊 Monthly Expenses:
Debt:
Car payment + insurance: $1,000
Student loans: $850
Living:
Groceries: $700
Shopping/household: $425
Fun/entertainment: $400
Essentials:
Phone: $200
Subscriptions: $75
Health insurance: $100
Other:
Dogs: $150
Car maintenance: $150
Emergency buffer: $200
House repair fund: $500
Savings:
$2,000/month
Appreciate any honest feedback—especially from homeowners or investors who’ve been through this.