Last weekend, the wife and I had a rare day away from the kids so we decided to look at some new homes at the Parade of Homes here in Wichita. The first house we went to was almost perfect; except for the $301,000 price tag. The other houses we looked at were in our target price of $150-$200,000 but there was a common theme, the master bedroom’s were too small, if we moved our furniture into that room, we wouldn’t be able to fully open our dresser drawers and the end of the bed would be less than one foot away from the foot of our bed, which is an obvious issue.
The other issues is the additional special taxes which can add $200+ on top of the mortgage, insurance and property taxes. So it’s likely we will buy an older house to avoid all these extra fees. Paying $300,000+ for a house is not a good idea, we can afford the payments; but it would make us house poor plus that’ll also mean that we’d have very little left over for repairs if needed!