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Updated 26 days ago, 10/29/2024
Is it to much?
Hey Biggerpockets fam, first time homebuyer here I would like some opinions on if buying a house at almost your max buying power is to risky.
My household brings in $6,900 a month (83k a year) we are buying a house at 395k 6.625 interest rate. Piti is $3,150, the house has a adu in the back it’s a 2/1 780sqft fully renovated.
long term rent: 1k-1,200
Mid term: 1,800-2,200 (7 minutes from a major hospital)
We plan on renting it right away, in your opinion should we go long term or mid term? Is it to risky to buy a house at that price at my income with the intention of househacking it?