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Old 01-07-2013, 01:06 AM   #36
mg5g
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Join Date: Aug 2009
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Re: Ae you house poor? Do you regret it?

I think my idea of "house poor" is different then others here. I *believe* we are considered house poor in the actual intention of the phrase - those who have a decent income but whose mortgage takes up a higher percentage of their income then normal thus making them "poor" since they don't have a lot of extra money above housing costs BUT in another cheaper house they wouldn't actually be poor. (ETA - WOW - run on sentence- lol )

Our mortgage is about 50% of DH's monthly take-home pay. That percentage does NOT include taxes, utilities, maintenance, or insurance. JUST the mortgage alone. DH makes a decent income, I'm a SAHM. We don't regret being house poor. Yes sometimes it would be nice to have money for fancy vacations, we camp in our trailer instead. Sometimes it would be nice to have a newer car, ours is 10. BUT we made a choice to forgo all those other things when we bought the dream home - we knew there would be sacrifices in being able to have this lifestyle. We have an acerage hobby farm in one of the most expensive areas in our country, on a mountain with panoramic windows and a forest with a natural clean creek for water. We are a little further out from the city in order for us to have been able to afford to own a farm here but it is a great place for our kids to grow up and well worth the lack of spending money to live in clean air and space.

Last edited by mg5g; 01-07-2013 at 01:10 AM.
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