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re: How much house can I afford?
Posted on 3/24/14 at 10:49 pm to TigerTatorTots
Posted on 3/24/14 at 10:49 pm to TigerTatorTots
quote:Where the hell do you people come from? The other thread has a guy giving advice suggesting a 25 year old married couple to live off only 25k a year, and now this
I make SIGNIFICANTLY more than that and I paid $65,000 for mine. I understand that may not be possible in Houston though.
This post was edited on 3/24/14 at 10:49 pm
0
Posted on 3/24/14 at 10:50 pm to TigerTatorTots
quote:
Jesus....I know I live in a nice area of Louisiana, but there literally is not a house under 100K in the city....or at least I don't know of any areas where there would be.
Someone found a house for $12,000 in New Orleans not too long ago.
Of course, it was in the Ninth Ward.
Posted on 3/24/14 at 10:54 pm to yellowfin
if you look around enough you could get a small house in the country for that
Posted on 3/24/14 at 10:55 pm to Teddy Ruxpin
"I make 745k a year, but i live off only 14.5k, and put the rest in retirement. I also bought my house for $9,000 in a nice area of Manhattan that i just got a heck of a deal on. I took out a 6 day mortgage because i didnt want a long term loan" Money Talk typical poster
Posted on 3/24/14 at 10:59 pm to lsupride87
Posted on 3/25/14 at 4:06 am to jimbeam
I make 80k roughly and I just bout a 170k house. Do you have a vehicle note? If not that gives you flexibility. Really comes down to how many other bills you have when deciding what you can afford.
This post was edited on 3/25/14 at 4:07 am
Posted on 3/25/14 at 6:50 am to kingbob
Like others have said, keep the property taxes in mind. When I bought a house in the Woodlands just over 5 years ago, my monthly payment had almost as much escrow as principal and interest. At the time it was probably a 230k house with a 160k loan, so the equity affected the math a little bit. But I still thought that was crazy.
Houston has a great website, HAR.com, where you can look at all of the MLS listings. It will also estimate the total monthly payment for each place based on taxes, etc, and how much you want to put as a down payment. It should give you a pretty good idea.
Houston has a great website, HAR.com, where you can look at all of the MLS listings. It will also estimate the total monthly payment for each place based on taxes, etc, and how much you want to put as a down payment. It should give you a pretty good idea.
Posted on 3/25/14 at 7:27 am to kingbob
$55k / year seams low for Houston. Are you working for an oil and gas operator?
Posted on 3/25/14 at 7:50 am to BAMAisDIESEL09
quote:
Depending on your down payment, probably a little over $200k.
No. Dude will be life poor and never leave his house. $55K/year will not afford much in the Woodlands to buy.
Posted on 3/25/14 at 7:56 am to kingbob
Right now I wouldn't think about buying in your situation if it were me. Just rent till you figure out what you want and where you want to live. Spring, TX maybe an option or Conroe. It gives your SO a chance to get a job too. A decent 2 bed/2bath in that area apartment is going to be about $1500/month.
Right now with Exxon about to open, housing costs are rising and development is booming up there so you can also watch the market.
Right now with Exxon about to open, housing costs are rising and development is booming up there so you can also watch the market.
This post was edited on 3/25/14 at 7:57 am
Posted on 3/25/14 at 7:58 am to econ85
quote:
$55k / year seams low for Houston.
depending on what he's doing, that's about normal for starting unless he's working for a major O&G company.
Posted on 3/25/14 at 8:00 am to Motorboat
quote:
$55K/year will not afford much in the Woodlands to buy.
He's not buying anything in The Woodlands proper with that. He's going to be looking just south or east of it.
Posted on 3/25/14 at 8:07 am to econ85
quote:
$55k / year seams low for Houston.
Not sure what you do for a living, but no it doesn't.
Posted on 3/25/14 at 8:23 am to kingbob
quote:
I just received a job. I have no credit. How much house can I afford?
You guys are way overthinking this...
Posted on 3/25/14 at 8:34 am to kingbob
quote:
I have no credit. I'm currently single
add in no down payment and I'd rent
If you must buy about $1k monthly including taxes and insurance is where I'd want to be at
Posted on 3/25/14 at 8:40 am to Chris Farley
Wait....just rent for now. For any decent house in the Woodlands area, you will be living paycheck to paycheck with that salary. Houses are going like crazy in that area due to the EXXON headquarters.
Posted on 3/25/14 at 9:20 am to yellowfin
Please don't buy a 200k house on a 55k salary... Please don't.
U can afford around $700/month. That's gonna be around 115k.
U can afford around $700/month. That's gonna be around 115k.
Posted on 3/25/14 at 9:21 am to Ellakennedi
I make 3x55k and I struggle with my 200k house note.
Posted on 3/25/14 at 9:28 am to Ellakennedi
quote:
U can afford around $700/month. That's gonna be around 115k.
That's what i was thinking. Any chance something like that exists to the northwest of the woodlands?
Posted on 3/25/14 at 9:31 am to kingbob
Just rent until you get married. That will be long enough to determine if you are satisfied there. If you are, it will also give you a chance to learn the area and determine where you want to buy a house.
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