Ours was almost 3x my salary when we bought it 7.5 years ago. We went with a 15 year note for the better rate and because it was doable. More than I wanted to spend, but worth it to us for the location. We are in the middle of a bunch of farm land 2.5 miles down a [true] dirt road. Most people would despise living where we do and the occasional headaches of access, but we wouldn’t trade it. We get to raise the girls in an environment where they just have to “make do” sometimes, which we think will benefit them in the long run. I’ve got a range right behind the house, and neighbors are few and far between.
For us, the financial strain (compared to previous houses) doesn’t come from the mortgage, taxes, or insurance; the square footage and energy-inefficient construction methods of the time equal some hefty utility bills.
No one but you can know what’s best or most important for you. Good luck!
