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re: What percent of your paycheck should go towards rent
Posted on 6/17/14 at 10:12 am to TheHiddenFlask
Posted on 6/17/14 at 10:12 am to TheHiddenFlask
I'm going to be at about 30% in Houston
1
Posted on 6/17/14 at 10:14 am to TheHiddenFlask
I won't be having a roommate. None of my friends are moving out, I have a small dog and most importantly, I will not be in BR but for a few years.
Living solo is preferred and paying $500 isn't meshing with that.
Living solo is preferred and paying $500 isn't meshing with that.
Posted on 6/17/14 at 10:30 am to PurpleNGoldFan
I'm around 25% in NYC, but that allows me to not have a car so I'm not too bad off. Would hope to be below 15% living in BR.
Posted on 6/17/14 at 10:38 am to Chris Farley
quote:
I'm around 25% in NYC, but that allows me to not have a car so I'm not too bad off. Would hope to be below 15% living in BR.
That's impressive in NYC. My friend is at 125%
pays to be loaded.Posted on 6/17/14 at 10:54 am to reb13
quote:
30% in Houston
Why? Where are you going to be living?
Posted on 6/17/14 at 12:58 pm to lynxcat
If you can afford to buy, why would you rent?
Posted on 6/17/14 at 1:37 pm to 1860pissed
quote:
If you can afford to buy, why would you rent?
Renting makes sense until you're sure you want to be someplace 5 years or more. Obviously, when you're going to be someplace long-term, buying gives a better return, generally.
A better option, if you can afford the downpayment, is to buy a multiple unit rental property and live in one of the units - much easier to transition it to an investment when you move out and replace your own rent some income (assuming you're breaking even while living there.) There is more headache, of course - but that is better than having to sell and buy in 5 years, and more profitable, IMHO.
Posted on 6/17/14 at 9:52 pm to kennypowers816
quote:
Why? Where are you going to be living?
Midtown most likely
Posted on 6/17/14 at 10:02 pm to TheHiddenFlask
quote:
If you are dropping 35% on rent in BR, you are doing it very wrong.
My rent and utilities together are around 31%
Posted on 6/17/14 at 10:16 pm to reb13
quote:
Midtown most likely
No roommates?
Posted on 6/17/14 at 10:31 pm to kennypowers816
One roommate
This post was edited on 6/17/14 at 10:31 pm
Posted on 6/17/14 at 10:45 pm to reb13
You aren't making enough to justify living in Houston right now.
I have idiot friends clearing 100k in Houston right now. Smarter friends are making 200-300k. All are LSU grads or comparable degrees. Be prepared to move jobs in the first 18 months you are there.
I have idiot friends clearing 100k in Houston right now. Smarter friends are making 200-300k. All are LSU grads or comparable degrees. Be prepared to move jobs in the first 18 months you are there.
Posted on 6/17/14 at 11:49 pm to TheHiddenFlask
quote:
You aren't making enough to justify living in Houston right now.
Huh? Do you want me to live in spring or something?
sorry I'm not clearing 100k out of college hahaPosted on 6/18/14 at 7:44 am to reb13
quote:
One roommate
2bd/2ba - $2000+/month apt on a 40-50k salary?
Dang. I guess that's the going rate in those parts. Sounds rough to me. Maybe you can find somewhere a little older under 2k.
I pay $1290/month for an older 2bd/2ba in river oaks/greenway plaza area.
Posted on 6/18/14 at 9:10 am to PurpleNGoldFan
Ive always heard that your rent/mortgage should be 25% or less and that the cost of your living expenditures (rent plus utilities) should be less than 33%.
im actually moving to lower my costs. but, i am getting roommates again... and, i picked up a part time gig on the side. trying to throw extra cash at student loans and car payments. that will free up hundreds of dollars for me. my living expenses will be right at 20% for me.
im actually moving to lower my costs. but, i am getting roommates again... and, i picked up a part time gig on the side. trying to throw extra cash at student loans and car payments. that will free up hundreds of dollars for me. my living expenses will be right at 20% for me.
Posted on 6/18/14 at 10:37 am to 1860pissed
quote:
f you can afford to buy, why would you rent?
For job mobility. Times are different. My 27 year old son does not want to be tied to real estate so that he may be able to pick up and move come opportunities.
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