- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: How much would you spend on a house if you had $250k combined income?
Posted on 7/8/19 at 3:38 pm to Cold Drink
Posted on 7/8/19 at 3:38 pm to Cold Drink
I'd spend 400,000 max and pay it off in a couple years.
Would hope the marriage survived the years or my credit is going to shite, because I'm going to lose my job when I start taking ungodly amounts of benzodiazepines, so I can at least enjoy just 1 part of the day. But I'm good at growing dope, so there's always that to fall back on.
I'd end up dead or in jail or on top If said marriage went to shite in those years.
Would hope the marriage survived the years or my credit is going to shite, because I'm going to lose my job when I start taking ungodly amounts of benzodiazepines, so I can at least enjoy just 1 part of the day. But I'm good at growing dope, so there's always that to fall back on.
I'd end up dead or in jail or on top If said marriage went to shite in those years.
1
Posted on 7/8/19 at 3:38 pm to Cold Drink
Old rule of thumb.
You can afford a car valued at 1/3 your salary.
You can afford a house 3x your salary.
Smart money plans to spend less than those "guidelines".
For $250K, I'd target $375-500K.
But the more you spend on your house, the less you have for other things.... So, keep that in mind before you try to keep up with the Jones'.
You can afford a car valued at 1/3 your salary.
You can afford a house 3x your salary.
Smart money plans to spend less than those "guidelines".
For $250K, I'd target $375-500K.
But the more you spend on your house, the less you have for other things.... So, keep that in mind before you try to keep up with the Jones'.
Posted on 7/8/19 at 3:40 pm to Cold Drink
I’d just get a trailer
Posted on 7/8/19 at 3:44 pm to Cold Drink
How much outstanding debt? School loans? Car loans?
I'd say 400K house.
I'd say 400K house.
Posted on 7/8/19 at 3:48 pm to Cold Drink
She's a butterfly catcher
He's a panhandler on 6th Street
All-in budget, including reno - $575,000
He's a panhandler on 6th Street
All-in budget, including reno - $575,000
Posted on 7/8/19 at 3:50 pm to bad93ex
quote:
Depends on your current obligations, Redfin has a nice affordability calculator on their website that you can configure for PMI, Taxes, HOA fees etc.
Jesus. That calculator says I can afford 3x the house that I currently live in. HELL NO.
I’ll take maxing out my 401k, making an extra mortgage payment each year, and being able to keep 9 mos living expenses in accessible emergency cash over a way too nice house.
This post was edited on 7/8/19 at 3:51 pm
Posted on 7/8/19 at 3:52 pm to Bruco
You’ve broken the code, baw. 
Posted on 7/8/19 at 3:52 pm to GRTiger
quote:
She's a butterfly catcher
He's a panhandler on 6th Street
All-in budget, including reno - $575,000
Every episode of House Hunters
Posted on 7/8/19 at 3:53 pm to Cold Drink
Not a whole lot but I'd have a sweet arse boat
Posted on 7/8/19 at 3:53 pm to Cold Drink
Buy a condo in a high rise. With all the Cali refugees now and future you will profit bigly when it’s time for kids and a house.
Posted on 7/8/19 at 3:53 pm to Bruco
quote:
Jesus. That calculator says I can afford 3x the house that I currently live in. HELL NO.
Did you adjust the APR and tax rate? If you're in Wisconsin it will be higher than the default.
EDIT: Saw your location, North Carolina will be higher than 1.125% which is their default
This post was edited on 7/8/19 at 3:55 pm
Posted on 7/8/19 at 3:54 pm to Cold Drink
screw an expensive house. Get a decent home, small mortgage, and travel and do stuff.
Posted on 7/8/19 at 3:54 pm to Cold Drink
Dont buy a more expensive house just because you can. Our house is worth just slightly less than our combined income.
Not being housepoor is great.
Not being housepoor is great.
Posted on 7/8/19 at 3:56 pm to sodcutterjones
quote:
screw an expensive house. Get a decent home, small mortgage, and travel and do stuff.
Sometimes the difference between a decent home and expensive home comes down to the school district which can be a big deal for families.
Posted on 7/8/19 at 3:58 pm to bad93ex
quote:
bad93ex
I bet you are a mortgage slinger.
Posted on 7/8/19 at 3:59 pm to meansonny
quote:On $250k Household Income, jesus gawd!
PITI no more than $7,708/mo. (37% cap on housing to gross income).
We haven't learnt from the Meltdown.
Posted on 7/8/19 at 3:59 pm to Motorboat
quote:
You gonna be a house poor dude with that and $250K.
$750k at 4% mortgage is ~$3,800 + Taxes/Insurance I rounded to $4500/mo.
$250k less $36k in pre-tax 401k brings take home pay to $168k.
$9500/mo remaining in post-tax income with maxing 401k contributions. I'd probably look to keep it $500k-$750k, but I don't think they'd be house poor.
This post was edited on 7/8/19 at 4:00 pm
Posted on 7/8/19 at 3:59 pm to sodcutterjones
quote:
screw an expensive house. Get a decent home, small mortgage, and travel and do stuff.
You'd be surprised at how hard that is to do in popular, bigger cities.
"Decent home, small mortgage" could basically mean a ghetto or 45 miles from your place of employment.
Posted on 7/8/19 at 4:01 pm to Cold Drink
Sorry you had to move to Texas just to find a job
Posted on 7/8/19 at 4:03 pm to bad93ex
quote:
EDIT: Saw your location, North Carolina will be higher than 1.125% which is their default
Down to a mere 2.87x my current house. Yeah, I’ll pass.
Don’t need to spend like I live in SF or Manhattan
Page 2 of 5
Popular
Back to top
Follow TigerDroppings for LSU Football News