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re: House = (x)household income
Posted on 8/10/15 at 9:02 pm to TheHiddenFlask
Posted on 8/10/15 at 9:02 pm to TheHiddenFlask
I agree 9% is insane. Apartments near me (downtown Denver) are ~$1,800 for a one bedroom. This Hawkeye guy must be balling out or living off of Colfax.
2
Posted on 8/10/15 at 9:14 pm to BioBobcat
I'm well under 1X gross income for condo, and the mortgage is under 5% of take home. If I could do it for less, I would. Non owner occupied real estate is a different story, but at least that's an investment. Primary residence is a place to live, subject to personal preference and comfort level. It is not an investment. Not if you're smart anyway. People talk about appreciation, but never factor in time value off money and maintenance.
Posted on 8/10/15 at 10:54 pm to BioBobcat
quote:
I agree 9% is insane. Apartments near me (downtown Denver) are ~$1,800 for a one bedroom. This Hawkeye guy must be balling out or living off of Colfax.
its 9% of gross.
And yes, I live a half a block away from colfax. I can look out my office window and see colfax, although its the nicer part of colfax near the bluebird.
also buying in denver is cheaper than renting. All of the rentals near my house go for 25-30% more per month than my house note.
I got in before the recent 20-30% runup in prices too, which helps.
This post was edited on 8/10/15 at 10:58 pm
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