2 hours ago
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A home offer turned into second thoughts.
A 30-year-old buyer from a household with about $11,000 monthly take-home wrote on the r/RealEstate subreddit that he is now "hoping they don't accept" his $595,000 offer on a $600,000 house..
He wrote, he and his 29-year-old spouse had been searching for homes in the $400,000 to $500,000 range in Plano, Texas.
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After submitting the offer, the original poster wrote, the financial commitment began to weigh on him. He wrote, the couple currently pays $2,000 a month in rent. He estimated the home would cost about $4,100 a month with a 10% down payment.
They have roughly $3,000 in other monthly expenses, leaving about $4,000 a month after everything.
He wrote upfront costs — including closing fees, appliances and breaking their lease — would require additional cash. "It's not that we can't afford it, it's the size of the jump and the long-term commitment that's getting to me," the OP wrote.
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Reddit users shared personal experiences and raised questions about the figures.
"My taxes and insurance have more than tripled since I bought this house in 2008," one Redditor wrote, pointing to the unpredictability of long-term housing costs.
Another commenter asked whether the $11,000 monthly figure reflected take-home income or gross pay and questioned how much the couple had saved for a down payment. "Is the 11k a month net or gross?" the commenter wrote.
A different Redditor wrote, the payment appeared manageable relative to the household income. "If your take home is $11k a month, your income is what, $210k? That is more than enough to afford a $600k house in my opinion without feeling stupid about it," the Redditor wrote.
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