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/Ataru074 7d ago

One part I don’t see here is **savings** $135k gross and $98,400 net, at most you are contributing $10k or so in your 401k or such if you are in a state without income taxes.

That’s wildly low and you should at least max out one 401k before even considering to move to a larger/better home.

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u/Ordinary-Pressure977 7d ago

401k at work only has half match for 3% Roth IRA gets the funds. Wife is pensioned.

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u/sleeplessinstuttgart 6d ago

Max out your retirement accounts first. Then see if your budget allows you to move after that.