I Have $200,000 In Student Loans But Want To Buy A House!

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[slywalkers]

"People buy emotionally and they justify intellectually" - Dave Ramsey

[TheRealMEEDABEE]

I love how you can tell if someone's watched the show before or not in the first 10 seconds lol - ngl I think this guy broke a record

[clarifyingquestions]

Buying a house on 85k household income WITH a wife and kids and a 200k student loan? Rent is expensive - but planning is free.

[preston]

He's going to buy a house. He's a fancy doctor now. He bought into the hype. No way he humbles himself and rents cheap and goes rice and beans. Only way he's getting out of this mess within the decade is if be doubles his income right quick. Even then, lifestyle inflation would likely keep him in debt with his attitude

[SJ-npcz]

Ramsey ignoring income taxes in his calculations can get frustrating. They’re not immaterial.

[clarkkent]

College Universities one of the biggest finessers out if you're not on full scholarship or not going to be a athlete, doctor, lawyer or engineer they got you.

[hornetguy]

Buying just to “not rent” is a terrible idea. Think about his situation now. Maybe a job in Salt Lake City offers him $110k to come work there. As a renter, he probably just needs to forfeit his deposit, and he can move the family and improve the situation. If he owns, he’s geographically tied to Phoenix. And believe me, employers aren’t stupid, they know when you need them more than they need you.

Also, those expenses are killer. And you don’t get to “save up” to pay them. If the roof leaks, you need a roofer now. If the water heater bursts, you need that repaired now. I had two water heaters go in 2021 (both of my homes). If you don’t have thousands of dollars to deploy in an instant, you have to go into debt to fund these.

The correct solutions are to not break yourself financially with school and other expenses, focus on ways to get your money up, and save.

[jakefranchise]

Buy a house when you are debt free. No car payment, no credit cards, no student loans. Things break around the house constantly, so you need to have that extra money to fix things.

[Mr_Fairdale]

I once job shadowed a chiropractor when I was in high school. He straight up told me not to become one and laid out the reasons why. It was eye opening for sure.

[tortoisehead]

Good advice by George. Maintenance and repairs on a home are very expensive.

[danielg]

Living on 35k is so hard now a days. Everything is so expensive

[vicepresidentmikepence]

America's obsession with buying a home, when you clearly can't afford one, has to end, TODAY

[frankm]

You can always buy a diploma, but you can never buy common sense.

[rfamily]

He is prioritizing his comfort sounds like the wife doesn’t want her kids to have a college fund or retire

[j.mney]

Home ownership is expensive. If he can barely afford the rent then it doesn’t make sense to buy a house.

[xfhnhhgjbvcfg]

$80k a year isn't that hard to make without a $200k dept. The trades are paying so well

[ErrorPagenotFound-igcy]

$85k isn’t that much especially if you have that much debt AND looking into purchasing a home.. someone needs to eat some humble pie.

[wolfpack]

Yup, once you buy a house you then become "house poor" lol. Houses need pricey maintenance, even if they're new.

[MexicanWorkEthic]

Never in the history of home purchases (and I’ve been involved and witnessed many) has anyone ever said how much they’re saving after a home purchase. It’s great if you’re in a good neighborhood and it feels safe but it’s never, ever more economical. This mentality has to change for those looking to buy and struggling to make ends meet even before being a homeowner. Good luck Stockton.

[grmacaw]

Home ownership can be very expensive. It’s not just the mortgage, taxes and insurance but all of the others things that need repair.