re: 30% of gross income for mortgage payment rule

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Did you pay cash in 2024? You got extremely lucky in one house netting over a mil but that was luck. Then you took 100k hit in the other deals and if you have a mortgage that 6ish % compared to 3ish % is going eat a lot into that one time profit you made. Look at me I bought the cheapest house in the neighborhood I wanted with a great lot fixed up the house and could sell for 600-700k profit today. But again I don’t plan on selling until I retire and move to my retirement house. Already bought and paying for now so that will be paid off when I retire

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ended up taking out a small mortgage; too much to get into but my wife started a food truck that ran her to death and we put some money into the house (epoxy garage, repainted exterior, etc.) so we lost more than that 100k0 when we sold but i don't want to think about it.

still worth it. i wake up to a million dollar view every morning. we took out the mortgage to have a couple 100k freed up to update this 70s house. also worth it. the house looks fantastic now. i just have to keep my jack rabbit of a wife from wanting to move again

Currently building a 1.8 million dollar house on the water. Unfortunately 5k isn't even much

After the 2008 crash I bought a bank short sell in 2009 for 30% of my gross income and that was with me showing w2's to the lender where I had been averaging 3+ years of averaging about 5 hours per week hourly over time, due to a special work project , which that was never going to last a couple years later. only recently 16 years later have a felt like I can decently afford this place. Also that 30% theory has been around for decades with the cost of living was more inline with wages like the silent generations age.. It doesn't necessarily work now. Keep in mind too, you don't know what the cost of raising a child is going to be, or if you're going to still be with your spouse in 5-10 years. Most my friends ended up divorcing.