<prompt> Human: My wife and I are in the process of purchasing our first and hopefully last home. We are both in our earlymid 30s and have spent several years advancing our careers. We have no consumer debt, no loans, own our vehicles. We are planning on putting down 120k on a 525k home in the suburbs of Atlanta. Taxes will be around 5600yr. I gross around 150k and expect my salary to rapidly increase over the next few years. My wife can gross around 50k working part time. Interest rate will be 3.875. We have around 50k for home improvements and initial furnishing. Its a fairly large home and we are so used to living in small apartments that we both knew we really wanted space and eventually have a child or two. We also have an emergency savings of around 60k. Since this is our largest purchase ever and we are not used to taking on big debts, can we really afford this?  <response>: Yes, you could afford at that house, especially since you have a nice 60k cushion in case one of you has a medical episode or something. On an unrelated note, be careful with buying a home in the Atlanta area, as it notoriously has some of if not the worst traffic congestion in the nation due to its massive urban sprawl. Best of luck. 