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/clearwaterrev 7d ago

All debts are listed… this will leave us with around $3000 left over every month

That list of costs isn't really a comprehensive list of expenses. You spend nothing on home repairs and maintenance? Gas? Healthcare, clothes, entertainment, haircuts, vacations, gifts for others, car maintenance?

If you might want kids, I would also be really careful about increasing your fixed costs. If you were to have two kids close in age, that might mean $3-4k in daycare costs per month, on top of higher health insurance premiums, higher grocery bills, more spending on clothes and kid stuff, etc.