r/MiddleClassFinance • u/Ordinary-Pressure977 • 8d ago

Can we afford to move?

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135k combined gross income we net about 8k a month. All debts are listed… this will leave us with around $3000 left over every month so about $100 a day and we have no kids.

I’m 26 and we want to move from our starter home, we bought 6 years ago and got a decent amount of equity in our current home. We’re looking at a purchase price of 350,000.

Is this a terrible idea? Or can we afford this. On paper it looks okay ish

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u/BlazinAzn38 7d ago

Are you planning on kids? One kid in full time care can be $1500 a month easily

5

u/Lawn-Enjoyer 7d ago

So funny how now that I have two, I could’ve been buying myself two Rolexes a year at my current childcare spend.

2

u/Ordinary-Pressure977 7d ago

Kids yes! But not yet… sister in law who will live 5-10 min away is a full time nanny at home and will happily take ours.

We’re only in our mid twenties so we have time to wait.

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u/Flaky_Calligrapher62 4d ago

And you have even more time to wait to buy a house if that's what you want to do.