LogFAQs > #972604850

radical_rhino posted...

Your mortgage will stay the same while you and your wifes salary will generally increase. It will only get easier to pay for monthly expenses as long as you both stay employed.
Not sure why youre bringing up refinancing when there isnt an indication that interest rates will be lower than they are now anytime in the next 10 years.

Im not sure youve properly thought through childcare expenses. Daycare is HUGELY expensive. If your wife works part time, does she even make more than what daycare for 2 kids would cost? If shes going to work, requiring you to pay for daycare, then ideally shed be working full-time.

Obviously it would be better to have a cheaper home, but thats not really the world we live in.

Right now we utilize her parents alot for childcare. They live like 45 min away and they'll come over on days that she works. We have a babysitter who will fill in for 4-5 hour chunks at a time as well randomly and she's pretty cheap. She'll probably continue part time forever tbh but just pick up shifts as needed.

And I disagree on rates not decreasing. Historically these may not be high but times have changed, banks may have issues if rates go higher, we're seeing cracks in the system already. I'm not sure if it can sustain like this.