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Started By
Message
buying a house
Posted on 7/21/09 at 8:18 am
Posted on 7/21/09 at 8:18 am
wanting to buy a house. maybe $150,000 next summer (10% down payment). $40,000/year salary. comments/suggestions? need more of a down payment?
4
Posted on 7/21/09 at 8:21 am to rogerlsu
quote:
comments/suggestions
not gonna find much that is liveable for 150k
Posted on 7/21/09 at 8:21 am to rogerlsu
Are you a first time home buyer as defined so that you can qualify for the $8,000 taxpayer assistance?
If so, you might be able to use that as part of your down payment.
If so, you might be able to use that as part of your down payment.
Posted on 7/21/09 at 8:23 am to LSURussian
yes first time buyer. i know 150k isn't a lot, which is why i'm considering just buying a condo or renting a little longer. i hate renting.
Posted on 7/21/09 at 8:23 am to CE Tiger
quote:In BR, he can. In Metry, you're right.
not gonna find much that is liveable for 150k
This post was edited on 7/21/09 at 8:23 am
Posted on 7/21/09 at 8:24 am to LSURussian
yes might have helped to say i'm in BR area
Posted on 7/21/09 at 8:32 am to rogerlsu
quote:
i hate renting.
* cue J......oh, never mind.....
Posted on 7/21/09 at 8:34 am to rogerlsu
150k is gonna be about 1000 a month for 30 years
house 1000
electric 150
water 25
cable/phone/internet 100
car insurance 100
cell phone 50
thats like 1425 right there if you have a car payment your gonna be cutting it pretty close if you bring home close to 2200 a month. after food and drinks and gas and stuff like that. Just make sure you save up a stash of cash before you buy one. Thats my advice.
house 1000
electric 150
water 25
cable/phone/internet 100
car insurance 100
cell phone 50
thats like 1425 right there if you have a car payment your gonna be cutting it pretty close if you bring home close to 2200 a month. after food and drinks and gas and stuff like that. Just make sure you save up a stash of cash before you buy one. Thats my advice.
Posted on 7/21/09 at 8:39 am to CE Tiger
quote:
not gonna find much that is liveable for 150k
plenty in Denham Springs
Posted on 7/21/09 at 8:39 am to keeton350
thanks. truck is paid for, but still it's cutting it a little too close for comfort
Posted on 7/21/09 at 8:40 am to rogerlsu
quote:
plenty in Denham Springs
i was born and raised in denham. don't plan on going back anytime soon, but may have to
moved out here my 2nd year at lsu, and been here ever since. couldnt deal with the traffic. guess it isn't that far, though
This post was edited on 7/21/09 at 8:42 am
Posted on 7/21/09 at 8:58 am to keeton350
quote:
150k is gonna be about 1000 a month for 30 years
Im going to assume you are including PMI and Insurance and Taxes into this figure.
If he is putting down 10% and can include an 8000 tax credit. He is only 7000 away from not having to pay PMI. But will he get approved for 150 making 40K?
This post was edited on 7/21/09 at 9:04 am
Posted on 7/21/09 at 9:10 am to Catman88
i was just giving a rough estimate on the house price and all other expenses. Trying to say to save some money because you can burn through 40k quick with that sizeable of a house payment. I guess no one will no the exact amt till the taxes and insurance is figured out. I was just comparing to my mortgage.
Posted on 7/21/09 at 9:33 am to rogerlsu
quote:
i was born and raised in denham. don't plan on going back anytime soon, but may have to
moved out here my 2nd year at lsu, and been here ever since. couldnt deal with the traffic. guess it isn't that far, though
You should probably save for a few more years, especially if you work in BR. The traffic from Denham is a nightmare (45 minutes- an hour)
Posted on 7/21/09 at 9:45 am to dlambe5
you will probably need, at the least, a 15% down payment.
Also, good rule of thumb:
Make sure that your house note does not exceed 30% of your monthly income.
Also, good rule of thumb:
Make sure that your house note does not exceed 30% of your monthly income.
Posted on 7/21/09 at 9:48 am to dlambe5
quote:
You can buy my condo
not looking to buy until next spring/summer, but i do like that kitchen. how much?
... and is that tv included
Posted on 7/21/09 at 9:51 am to rogerlsu
It's listed at 159,400
Posted on 7/21/09 at 9:51 am to LSUtoOmaha
didnt noticePosted on 7/21/09 at 9:53 am to rogerlsu
quote:
and is that tv included
If the price is right, sure.
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