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Started By
Message
re: Cost of Living & Salary Requirements
Posted on 3/7/23 at 3:34 pm to SidewalkTiger
Posted on 3/7/23 at 3:34 pm to SidewalkTiger
quote:
If you think a person's only choices are a +$200k house or a shithole then you're completely out of touch with reality.
Or an extremely high maintenance person.
When is the last time you looked for a house anywhere that wasn't an extremely rural area?
2
Posted on 3/7/23 at 3:35 pm to MasterDigger
Those mortgage payments are pretty far from what someone applying today will pay for the median home in those states.
This post was edited on 3/7/23 at 3:37 pm
Posted on 3/7/23 at 3:35 pm to FIREAWAY
I say good for you for owning a home, however it is that you qualified for the loan. Prioritize that expense and cut others if needed. The tax benefits and equity that you're building are huge. Take on a roommate if needed and keep eating Beans and rice, or whatever you're surviving on for $340/mo, it will pay off.
Posted on 3/7/23 at 3:38 pm to atxfan
quote:
. The tax benefits and equity that you're building are huge.
tax benefits aren't so great anymore but as far as the equity it can be a great way to start building wealth
Posted on 3/7/23 at 3:39 pm to Byron Bojangles III
quote:Yep.
people are getting priced out of having kids and starting families because of the cost of living everywhere
Global issue in 1st world countries.
Prices have ballooned to unsustainable levels.
Posted on 3/7/23 at 3:40 pm to FIREAWAY
quote:
$1,427 Mortgage
If you live in south Louisiana, this ain’t covering the home owners insurance.
Posted on 3/7/23 at 3:41 pm to BigPerm30
quote:Y’all can still get that in LA?
home owners insurance.
Posted on 3/7/23 at 3:41 pm to GreatLakesTiger24
quote:
GRTiger
quote:
GreatLakesTiger24
quote:
The mortgage is not off
the rule of thumb is 28% of income to be spent on housing. Yes, I had to look this up. 50,000/12 = 4166 x .28 = 1166.
that is $1166 of PRE-tax income. after taxes, 28% would be in the $850/mth range. buy a "starter house" (i used the term shanty in my earlier life). or rent. or figure something else out. you do not have to keep up with others. you need to be responsible to your own decisions.
i will repeat myself....$1500/mth on $50K/yr is too much house for you at this point in your life.
Posted on 3/7/23 at 3:46 pm to GoCrazyAuburn
quote:
Or an extremely high maintenance person.
Yes,I am, as are the other degenerates that live with me. Luckily we make over 300 combined. You can live like a degenerate on that and still put money in savings.
We also lived off less than 45 combined when we were first married. You can do that too if you don’t spend money on stupid shite and live within your means.
Posted on 3/7/23 at 3:48 pm to Scruffy
quote:
Y’all can still get that in LA?
Barely, $450k of coverage costs you about $8,500/ year. How the frick can we continue to live like this. I’m about done.
Posted on 3/7/23 at 3:48 pm to FIREAWAY
quote:
342.11 Food Cost
Posted on 3/7/23 at 3:55 pm to FIREAWAY
(no message)
This post was edited on 4/29/23 at 8:01 pm
Posted on 3/7/23 at 3:55 pm to BluegrassBelle
quote:
Just curious on your square footage and when you bought the house. Our mortgage with PMI and insurance is about $1500 a month and that was buying before the COVID housing boom.
Purchased in 2020. 2200 square feet. 1 acre of yard (front + back)
It needed some work, and we’ve put in about $40k worth of fixes and upgrades.
Posted on 3/7/23 at 3:57 pm to FIREAWAY
quote:
Anyone making less than $50,000 per year cannot afford to live in America.
It's a good thing that everyone on the O-T makes 300K a year and another 100K annually on sports betting.
Posted on 3/7/23 at 3:58 pm to DCtiger1
How many decades ago was that?
Posted on 3/7/23 at 4:00 pm to A Smoke Break
2011-2014. Rent was 3300 and that was in Arlington.
Posted on 3/7/23 at 4:00 pm to PUB
Not that long ago, I’m 35
Posted on 3/7/23 at 4:06 pm to FIREAWAY
Reading all of this makes me long for the good old days when I was first married.
Minimum hourly wage was $1.00 per hour but I was lucky to be earning $1.25 on a 50 hour week.
Rent $35 per month for a two room garage apartment.
Dead car in the driveway with a leaking radiator that resulted in a cracked head.
Doctor's bill for the first child was $75.00 including delivery, prenatal and postnatal care. (He even told me that he put in an extra stitch just for me.)
Hospital bill was $6 per day for the mother and $.50 for the baby and a five day stay. Total = $33.00 and they served us a special candlelight steak dinner the night before she was discharged.
Minimum hourly wage was $1.00 per hour but I was lucky to be earning $1.25 on a 50 hour week.
Rent $35 per month for a two room garage apartment.
Dead car in the driveway with a leaking radiator that resulted in a cracked head.
Doctor's bill for the first child was $75.00 including delivery, prenatal and postnatal care. (He even told me that he put in an extra stitch just for me.)
Hospital bill was $6 per day for the mother and $.50 for the baby and a five day stay. Total = $33.00 and they served us a special candlelight steak dinner the night before she was discharged.
Posted on 3/7/23 at 4:06 pm to FIREAWAY
Edit out double post. Why do I get a post quality check notice and then it double posts???
This post was edited on 3/7/23 at 4:09 pm
Posted on 3/7/23 at 4:08 pm to BigPerm30
quote:
Barely, $450k of coverage costs you about $8,500/ year. How the frick can we continue to live like this. I’m about done.
Wtf... You're getting reamed.
450k: 2650 with flood.
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