u/hecmtz96

Looking at buying a 620k house and wanted a gut check from people who've been through it.

Household income is 245k. Net monthly take home is around 11k after almost maxing out our 401ks. We're putting 20% down so the total mortgage payment lands around 4k/month, roughly 3k P&I and 1k for taxes and insurance.

The part that makes us a little nervous is we're going from paying 2k in rent to 4k in housing costs, so it's a pretty big jump even if the math works out on paper.

After all our other expenses (utilities, food, car, etc.) we're still left with about 3,500/month to throw at investments or savings. Current net worth is around 1.1m.

I know the payment is slightly over the "30% of net" rule of thumb but it doesn't feel crazy given that the 11k net is already after heavy 401k contributions. If we counted gross it'd look worse on paper but the actual cash flow situation feels solid.

Anyone been in a similar spot? Anything I might be overlooking?