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re: Is This Really How People Decide How Much House They Need?
Posted on 1/30/15 at 11:22 pm to goatman1419
Posted on 1/30/15 at 11:22 pm to goatman1419
2800+ sqft in any of the newer neighborhoods in b.r is easily $350K+.
How much household salary is needed for a $350K+ house?
How much household salary is needed for a $350K+ house?
3
Posted on 1/30/15 at 11:26 pm to lsu xman
Single as of now, but I like my small apartment. Less shite to take care of and furniture to fill it up
Posted on 1/30/15 at 11:27 pm to lsu xman
Me , wife and kid half of the time.
3200sqft
4 bedrooms. We are however prepared for her mom to need a place to live in a few years and bought larger
3200sqft
4 bedrooms. We are however prepared for her mom to need a place to live in a few years and bought larger
Posted on 1/30/15 at 11:44 pm to lsu xman
quote:
How much household salary is needed for a $350K+ house?
Depends on how much other debt you have (like student loans), what kind of cars you finance, how much help you have from your parents, how many dependents you have, if they go to private school, extra curricular activities, if you're in a flood zone (insurance), interest rates, and how much taxes are on that property, how much down payment you have, etc.
Just a rough estimate is that many families making $160k/yr could afford a $350k home with 5% down. I've seen people who make ~$115k pull it off because they wanted to keep up with the Jones and I'm sure they were house poor. That might not be doable in Texas because the property tax bill would be like $10k/yr.
Some of these suburbs in Texas where people buy homes are really far away from the main city's downtown so they can likely get a 2800 sq ft home for less than $350k. I think the OP mentioned Lakewood which is pretty expensive, doe.
This post was edited on 1/30/15 at 11:48 pm
Posted on 1/31/15 at 12:02 am to Asgard Device
My brother's wife's family lives in Plano, TX.
They are in a house that would easily run 500K+ in B.R for around 300K I believe.
They are in a house that would easily run 500K+ in B.R for around 300K I believe.
Posted on 1/31/15 at 12:10 am to HempHead
quote:
I mean, shite. Until my dad started to make good money, we had a family of 5 living in a 1200 square foot house. Every other month my brothers and I got a bedroom to ourself.
This is how it was when we were kids. We were rarely in the house but to eat and sleep though. Three boys all shared a bedroom until I was about 13.
Posted on 1/31/15 at 12:18 am to RogerTheShrubber
My brothers were significantly older than me, the oldest went to college when I was 6. The other at 10. My mother couldn't stand not having a bunch of folks to take care of, so she would take in my less fortunate friends for a while. I had 4 of my friends living with me my senior year of HS, in addition to a Dutch exchange student.
Posted on 1/31/15 at 12:23 am to lsu xman
quote:
My brother's wife's family lives in Plano, TX.
They are in a house that would easily run 500K+ in B.R for around 300K I believe.
how's plano? cold and plain, I hear.
Posted on 1/31/15 at 12:31 am to HempHead
that's what Hot Carl said
quote:
It's not huge, but it sure ain't small.
Posted on 1/31/15 at 12:33 am to Hot Carl
Posted on 1/31/15 at 12:45 am to SirSaintly
Never thought about it, but 1300/person at my house.
Since you were nosy enough to ask.
Since you were nosy enough to ask.
Posted on 1/31/15 at 3:39 am to Asgard Device
Just bought in the woodlands and the space in these houses was obnoxious. Second living rooms and extra master suites. But the build quality was very meh. Lots of carpet and crappy cabinets. They texture all the drywall here (when I asked the real estate agent if we can look at houses without it she seemed confused. I don't think she realized that was a cheaper way to finish drywall). Finally we found a house with hardwood floors, single story, real wood cabinets, etc., but it cost about 25k more. We're in 2400 sq. ft which isnt small to me. Its perfect and spacious for a family of 4. Most houses were around 3000 sq ft for a 4 bdrm.
Posted on 1/31/15 at 8:09 am to Hangover Haven
quote:
Someone is building a house on Military Rd in Slidell... The man room alone is 10,000 square feet...The place looks like they're building a firggin school...
I think that house on Military is the guy who owns a hair products company - drives an orange Aventador and some other baller cars.
This post was edited on 1/31/15 at 8:17 am
Posted on 1/31/15 at 8:15 am to SirSaintly
Well assuming he is responsible and waited to have kids until he could actually afford them, he is correct. Why wouldn't you want each kid to have their own bedroom? 2800 square feet is not too big, not too small.
Posted on 1/31/15 at 8:21 am to SirSaintly
I always purchased my home at the most i could reasonably afford. that works well during periods of high inflation and if you plan on working up to larger, more affluent homes. That being said, I would probably recommend a step lower now, and make it what i could "very comfortably" afford.
Posted on 1/31/15 at 8:39 am to jeffsdad
quote:
That being said, I would probably recommend a step lower now, and make it what i could "very comfortably" afford.
The best sleep is offered in these kind.
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