How much house can we realistically afford?

I see what you're saying, and I guess I should have clarified that. I also agree with the "how much can OP afford sentiment", which is why I said 200k comfortably. Really, they could afford more, but that gets into dangerous territory.

The debt is really not an issue. 20k, with the majority being an auto loan, is not much to worry about. 20k in credit card debt across 3-4 cards is different. I imagine their vagueness was more about privacy or just giving the general details, and less about lack of awareness. You don't get a credit score of 800+ if you don't have a handle on your finances.

Lastly, I guess we will have to agree to disagree. Like you, my major assets are not my home, but in general, people's largest investment they make is their home. The last thing anyone wants or needs to to end up upside-down when it comes to housing.

I personally think OP has the right idea in buying a home, but they need to be careful. I think it is the responsibility of the potential home owner to do their due diligence in assuring the house they buy doesn't become a money pit. There are a lot of houses out there that are in great shape, but a lot that need far too much TLC.

/r/personalfinance Thread Parent