Hi Bogleheads, I am at a loss for how to decide on a budget for a first house.
We are in kind of a unique situation because we can borrow from my wife's family's LLC. Our interest rate will only be 4.6%, and we will be paying into an account that my wife owns 3.5% of. Presumably she will own 33% of it one day.
Here's our situation:
Net worth: $1.5MM (About $700k is in retirement accounts and $575k in my wife's shares of her family's investment LLC. The rest is in taxable brokerage accounts or cash)
Combined salary: $326k
Ages: 32 and 30
No kids yet, planning to have two kids.
I am very frugal by nature, but given our situation I thought maybe we should look at nicer houses. But I feel like I might be missing something that I'll regret going in on $750k or something on. Can anyone offer us any advice? It would really help us out a lot!![:happy]( "smile")
Thank you!!!
We are in kind of a unique situation because we can borrow from my wife's family's LLC. Our interest rate will only be 4.6%, and we will be paying into an account that my wife owns 3.5% of. Presumably she will own 33% of it one day.
Here's our situation:
Net worth: $1.5MM (About $700k is in retirement accounts and $575k in my wife's shares of her family's investment LLC. The rest is in taxable brokerage accounts or cash)
Combined salary: $326k
Ages: 32 and 30
No kids yet, planning to have two kids.
I am very frugal by nature, but given our situation I thought maybe we should look at nicer houses. But I feel like I might be missing something that I'll regret going in on $750k or something on. Can anyone offer us any advice? It would really help us out a lot!
Thank you!!!Statistics: Posted by taxnoob — Sun Jul 28, 2024 5:31 pm — Replies 11 — Views 645