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re: How much would you have to make

Posted on 7/13/12 at 10:48 am to
Posted by LordSnow
Your Mom's House
Member since May 2011
5821 posts
Posted on 7/13/12 at 10:48 am to
quote:

you couldnt even get something this nice for 160k in opelousas



That NICE? really? thats a nice house to you?

Posted by diat150
Louisiana
Member since Jun 2005
46058 posts
Posted on 7/13/12 at 10:48 am to
quote:

well according to you it's tying up

to anyone with any kind of financial sense(which i would hope given a combined 200k+ income), it's really not.

200k income could get you an 800k house in many areas. THAT may be tying your money up.



the OP is working in afghanistan if I recall correctly. how much longer will that last? perhaps he should base his housing requirements on what he would make in the united states as opposed to what he is making overseas, because once his gig ends there is no promise that he wont be back over here making 60k and asking for a bailout.

some people have to overpay for housing depending on where they live. round rock doesnt seem to be one of those places. financial sense would be trying to save a few dollars instead of being like the many people that have had alot of trouble the last few years buying too much home and then left wondering wtf happened.
Posted by Pilot Tiger
North Carolina
Member since Nov 2005
73547 posts
Posted on 7/13/12 at 10:49 am to
quote:

DC housing prices are out of control.
depends on where you live. I could get a pretty sweet pad in SE/SW DC


Posted by diat150
Louisiana
Member since Jun 2005
46058 posts
Posted on 7/13/12 at 10:51 am to
quote:

That NICE? really? thats a nice house to you?


that is a nicer house than what you could get for 160k in opelousas. no doubt about it.

good luck my friend. ill wait for your post in a couple of years asking for advice on bankruptcy.
Posted by Pilot Tiger
North Carolina
Member since Nov 2005
73547 posts
Posted on 7/13/12 at 10:52 am to
quote:

some people have to overpay for housing depending on where they live. round rock doesnt seem to be one of those places. financial sense would be trying to save a few dollars
like i've said before, he could still save money with a house that price.

just because people dont want to live in a house priced around their annual income like you, doesnt mean they're wrong

yea I could live in a smaller cheaper place, but I like having nice things, so what/
Posted by diat150
Louisiana
Member since Jun 2005
46058 posts
Posted on 7/13/12 at 10:57 am to
quote:

like i've said before, he could still save money with a house that price.

just because people dont want to live in a house priced around their annual income like you, doesnt mean they're wrong

yea I could live in a smaller cheaper place, but I like having nice things, so what/




different strokes for different folks I guess. I never said it was wrong btw.
Posted by Athanatos
Baton Rouge
Member since Sep 2010
8170 posts
Posted on 7/13/12 at 11:07 am to
quote:

depends on where you live. I could get a pretty sweet pad in SE/SW DC


On the wrong side of the Anacostia? I am not up to date on DC neighborhoods and housing prices.

What neighborhood did you buy in? Single Family home or condo?
Posted by Pilot Tiger
North Carolina
Member since Nov 2005
73547 posts
Posted on 7/13/12 at 11:10 am to
quote:

On the wrong side of the Anacostia?
yea they have some new builds on tear downs around 400k, 5+ BRs, big yards, all the amenities...just in a rough area. i'm not patient enough to buy one and wait 10 years for the area to get better


I live in Fairfax county, i bought a townhouse in jan and my gf(now fiance) moved in with me. It's perfect for us, but I really want to move a little further out and get a big house with a man cave in the basement
Posted by Ostrich
Alexandria, VA
Member since Nov 2011
9615 posts
Posted on 7/13/12 at 11:14 am to
quote:

Round Rock Texas


Posted by Athanatos
Baton Rouge
Member since Sep 2010
8170 posts
Posted on 7/13/12 at 11:22 am to
quote:

I live in Fairfax county,


Ah, I don't think I would want to live anywhere but Nova or NW depending on where I worked, but frick living far away from a metro stop regardless of where I lived.
Posted by Pilot Tiger
North Carolina
Member since Nov 2005
73547 posts
Posted on 7/13/12 at 11:23 am to
quote:

Ah, I don't think I would want to live anywhere but Nova
fairfax county is NOVA

I work next to georgetown, it's not a bad commute at all
Posted by Athanatos
Baton Rouge
Member since Sep 2010
8170 posts
Posted on 7/13/12 at 11:31 am to
quote:

fairfax county is NOVA


I wasn't trying to imply otherwise. Sorry about the confusion. I was referencing the earlier conversation about SE/SW.
Posted by ItNeverRains
Offugeaux
Member since Oct 2007
28166 posts
Posted on 7/13/12 at 1:37 pm to
quote:

just checked and it looks like there are a ton of nice homes for much less than 450k. you couldnt even get something this nice for 160k in opelousas. LINK


If a vinyl garage with living quaters above and behind it, with 8 foot popcorn ceilings for 170k is nice, we have far too different definitions of nice to debate.

LINK

I'd say this is a nice house, a fixture here or there to get it past builders grade crap, but more or less nice.

Using figures provided in MLS, targeting 340k sales prices, with 20% down at 3.625 on 30 year, looking at 1900/mo. Based on making 150k/yr, leaves a measely 5-6k month after mortgage to stave off bankruptcy.
Posted by Mid Iowa Tiger
Undisclosed Secure Location
Member since Feb 2008
21858 posts
Posted on 7/13/12 at 1:44 pm to
quote:

it varies so much from one area to another in the texas burbs too



Tell me about it. My tax bill in Cypress is higher than my P&I.

Posted by LordSnow
Your Mom's House
Member since May 2011
5821 posts
Posted on 7/13/12 at 2:12 pm to
quote:

ITNEVERRAINS


Way more my style.
Posted by diat150
Louisiana
Member since Jun 2005
46058 posts
Posted on 7/13/12 at 2:26 pm to
quote:

Way more my style.


send the man a check, he just saved you 100k.

to be honest though, just because you had to ask tells me you realize that the house is more than you should spend.
Posted by ItNeverRains
Offugeaux
Member since Oct 2007
28166 posts
Posted on 7/13/12 at 2:37 pm to
Maybe, 450k would be 2400/mo all things equal, he have to squeak by on 3500-4000/mo after mortgage making 150k.

Most folks can live on 750-1000 week pretty comfortably after their mortgage is paid.
Posted by diat150
Louisiana
Member since Jun 2005
46058 posts
Posted on 7/13/12 at 2:41 pm to
you havent included utilities, taxes, and any other debts that he owes. vehicles, auto insurance, etc. if you have a 450k house you certainly are entitled to a brand new mb amg black series.
Posted by LordSnow
Your Mom's House
Member since May 2011
5821 posts
Posted on 7/13/12 at 2:56 pm to
quote:

you realize that the house is more than you should spend.


I truly wanted to stay in the 300's but I figured I'd ask about the 4's They have some really nice places in the 400's....lol

I kick myself all the time for not looking up to 250k when I bought before. Cause after I bought I happened to look online and the difference in houses between 200 and 250 is pretty big.

Posted by ItNeverRains
Offugeaux
Member since Oct 2007
28166 posts
Posted on 7/13/12 at 3:05 pm to
quote:

you havent included utilities, taxes, and any other debts that he owes.


Property taxes were included in both mortgage estimates. If he has other debts that amass to cutting 750-1000 week close to live on his lifestyle does not warrant a 450k house.

quote:

if you have a 450k house you certainly are entitled to a brand new mb amg black series.


Lifestyle. My house was 580k and I drive a Traverse, my wife, an Accord.

Of course my prop taxes are almost 4k less a year.



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