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re: How much rent can a young person afford on 60k income?
Posted on 5/3/17 at 3:42 pm to Slippy
Posted on 5/3/17 at 3:42 pm to Slippy
I live in uptown and make about that. I pay $900/mo but I live in a 4 br house. I think if they don't have too much debt they will be able to live fine paying anything less than 1,500.
0
Posted on 5/3/17 at 3:42 pm to LNCHBOX
quote:
With the mortgage you at least have the possibility of getting what you put in back out. With renting, you have zero chance of getting any of that money back.
Agree completely. I hated renting for that reason alone. Felt like I was losing money.
Now however, I am risking this market going to shite and being left losing thousands.
Posted on 5/3/17 at 3:42 pm to Slippy
quote:
I think they are gonna go for it.
Not if I get it first.
Posted on 5/3/17 at 3:44 pm to fightin tigers
quote:
Now however, I am risking this market going to shite and being left losing thousands.
I do agree that there are a few bubbles that will be bursting in this area before too long.
Obviously not the area I bought in though
Posted on 5/3/17 at 3:44 pm to Slippy
Lot of info missing here. Do they have debts? Car notes, credit cards, student loans, etc? At $60K combined, they're probably taking home between $3500-4000 a month total after taxes. $1200-1400 sounds like a good price range as long as they don't have any big monthly debt payments.
Posted on 5/3/17 at 3:45 pm to AwesomeSauce
quote:seems a bit high IYAM
30% of their income.
Posted on 5/3/17 at 3:47 pm to Slippy
That's like what, 3500 a month depending on 401k insurance etc? About a grand or so would be what I would suggest.
Posted on 5/3/17 at 3:49 pm to The Torch
They need to move to a State that pays teachers better.
Georgia is not bad for teachers. Decent salary and low housing costs.
Georgia is not bad for teachers. Decent salary and low housing costs.
Posted on 5/3/17 at 3:52 pm to Slippy
They can probably afford one of the nicer double-wides in the park.
Posted on 5/3/17 at 3:58 pm to Slippy
Which neighborhood do they want to live in? We have a duplex off Audubon Street, near Fountainblu, 3br 1 bath that we charge $1750/mt for one side. That's actually a good deal in the area.
We have a place on in mid city, kinda sketchy area (next to Parkway) it's a double. One side 2BR/1 bath Rents for $1100/mt
We have a place on in mid city, kinda sketchy area (next to Parkway) it's a double. One side 2BR/1 bath Rents for $1100/mt
Posted on 5/3/17 at 4:02 pm to Slippy
Had a sibling in a similar situation.. they built a successful business, sold it, moved to Fort Collins, CO. Their son is going on 3 years old, didn't want to raise a kid in n.o and have never been happier.
Tldr: if they want to have kids and be happy, n.o isn't the place, sorry. Especially for a teacher.
Eta: they lived in mid-city, nice house, they always planned on moving and would've done so whether they had kid(s) or not.
Tldr: if they want to have kids and be happy, n.o isn't the place, sorry. Especially for a teacher.
Eta: they lived in mid-city, nice house, they always planned on moving and would've done so whether they had kid(s) or not.
This post was edited on 5/3/17 at 4:55 pm
Posted on 5/3/17 at 4:02 pm to RocketPower13
quote:
if they want to have kids and be happy, n.o isn't the place, sorry.
Posted on 5/3/17 at 4:03 pm to Clint Torres
quote:
Not anywhere safe in NOLA for $900
Plenty of 1 BRs in that range in decent areas, but finding modern amenities like washer/dryer, dishwasher, central A/C, etc. will be tough at that price point. The key for me in NOLA was checking Craigslist every day with only a few target areas in mind. That way my search lasted a total of 5 minutes. After a few months, I found a place that was 30% cheaper than what I budgeted, and I signed the lease the next morning.
There are great deals out there all the time offered by older folks that rent out nice places for side income. They go fast, though.
ETA: to the OP, Old Gretna is a great area. Not exactly an exciting area for a young couple to live, but it is safe and has the NOLA charm you mentioned. I work in the area and love the lunch spots around there.
This post was edited on 5/3/17 at 4:08 pm
Posted on 5/3/17 at 4:04 pm to Slippy
Another way to ask, how much money are you willing to throw away every month?
Posted on 5/3/17 at 4:04 pm to Slippy
quote:
NOLA area.
I hear Nola East is beautiful this time of the year. Perfect opportunity for you to get them both pistols too as upcoming wedding gifts.
Posted on 5/3/17 at 4:04 pm to bmy
quote:
My gf and I combine for 75k
Combining your income with a girlfriend? What a maroon.
Posted on 5/3/17 at 4:05 pm to RocketPower13
Your friend sounds like a pussy. But Ft. Collins is not that bad of a tradeofff.
Posted on 5/3/17 at 4:06 pm to bmy
I would go for 800$ invest in 2 pitbulls and a couple gats.
This will let them save more money to build/buy
This will let them save more money to build/buy
Posted on 5/3/17 at 4:10 pm to ellishughtiger
quote:
sibling
Infastructure, education, crime, building racial tension, economic incentives that exist to appease tourist industries; why am I getting downvotes for saying two teachers starting a family would be better off not doing so in n.o and using a legit example as evidence?
Posted on 5/3/17 at 4:12 pm to ellishughtiger
Failed to mention that they will both be teaching on the wank. So this looks like a perfect situation.
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