Originally Posted by yellowpansy
Wow, that is amazing. Our mortgage was 28% of our after taxes income when I was working and it is now 45% with just dh's salary. That includes taxes and insurance. But, we have no other debt. I think that factors in. If we had car payments and student loan payments and credit card bills, that would be a problem for us.
I bought the house when I was single. It's an older English Farmhouse (limestone), but it's in a neighborhood, not a subdivision and we have a bit of land for dd to roam around on. We are an older couple that is preparing for retirement in a bit over a decade, and thankfully we made good financial decisions in our 20's and 30's (and 40's for dh) with the goal of retirement and increasing our net worth. Our house is just part of that... and in spite of what others think, a house is not really an investment, but rather a security for when you retire. We are debt-free as well, and could actually pay off our house any time we wanted to. We choose to carry a mortgage because our investments are (well, *were* until this recent bear market) making us much more than our mortgage interest rate. We're invested for the long-run... including staying in this house for the rest of our lives.
If I were working, our house payment, including taxes and insurance, would be about 5% of our net income. Too many people are house poor. It's not amazing that our home costs are so low... it's just sound financial management.