We want to retire in 2-4 years and spend $150K a year – can we afford a $1.5 million house in a pricey housing market?

Core Insights - The article discusses the financial situation of a couple aiming for early retirement, highlighting their assets, income, and spending plans as they consider purchasing a new home. Financial Situation - The couple, both aged 45, has approximately $3.5 million in assets, including $1.2 million in a brokerage account [3] - Their current household income is around $325,000, with annual spending of only $65,000, allowing them to save about $200,000 each year [3] Retirement Plans - They plan to retire within the next two to four years and anticipate increasing their annual spending to around $150,000, which is more than double their current non-housing expenses [4] - The couple does not have children and therefore does not need to consider expenses related to child-rearing [6] Home Purchase Considerations - Living in an expensive real estate market, they are contemplating buying a home now while they can demonstrate a substantial income, but are uncertain about their affordability [5] - Homes in their area typically sell for $1.5 million or more, and they need to account for additional costs such as mortgage, taxes, and maintenance when considering a home purchase [7][8] - A $1.5 million home with a 20% down payment would result in monthly costs of $8,000 to $9,000 at current interest rates [8]