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re: Hypothetical: you are offered 200k for a job...what is best city for family of 5?
Posted on 2/15/18 at 10:44 pm to saderade
Posted on 2/15/18 at 10:44 pm to saderade
quote:
What is the monthly housing cost—mortgage, insurance, and taxes on a $400k note?
probably around 2800
You 'tarded or house poor?
1
Posted on 2/15/18 at 10:44 pm to gorillaballin
Good for you. That’s actually not meant to be sarcastic, good for you. You’re doing the right thing.
But that has no bearing here.
But that has no bearing here.
Posted on 2/15/18 at 10:44 pm to saderade
quote:
. What is the monthly housing cost—mortgage, insurance, and taxes on a $400k note?
probably around 2800
Closer to $3000 depending on where you live. I’ve seen some people paying up to $3800 a year for just flood insurance. A $400k house will cost $6000 a year in property taxes.
Posted on 2/15/18 at 10:44 pm to gorillaballin
Can you live in half a double as a family of 5?
Posted on 2/15/18 at 10:44 pm to tgrbaitn08
quote:
Give me some examples? Show me a list of $250k-$300k 2000q ft houses in safe desirable neighborhoods in Orleans Parish.
If it's 400k the max note is still $2500-$2700. You still have almost 10k of cash flow/ month after housing. 400k is only 2x yearly income and less than 25% gross so actually pretty low. You would eat some of that with the mandatory education costs, but you're still nowhere near not being able to afford it.
Posted on 2/15/18 at 10:44 pm to Louie T
quote:
Let them think European vacations for 5 and Country Day are necessities for a comfortable life.
No one suggested they were necessities. Some people said that that was their personal standard of living to be comfortable. Are you going to disagree over a personal preference?
Posted on 2/15/18 at 10:45 pm to tgrbaitn08
quote:
Closer to $3000 depending on where you live. I’ve seen some people paying up to $3800 a year for just flood insurance. A $400k house will cost $6000 a year in property taxes.
That comes out to a payment of roughly $2600/month with property tax and flood insurance
Posted on 2/15/18 at 10:46 pm to Mingo Was His NameO
Homeowners insurance is another several grand
Posted on 2/15/18 at 10:47 pm to tigercross
quote:
Some people said that that was their personal standard of living to be comfortable.
Actually, no one even said that. He was just being obtuse.
Posted on 2/15/18 at 10:48 pm to Clint Torres
quote:
Homeowners insurance is another several grand
At 6k/year were talking $500 a month on the payment still not even approaching 3k/month for housing
Posted on 2/15/18 at 10:48 pm to Clint Torres
quote:
Can you live in half a double as a family of 5?
No, I'm just trying to illustrate how to live cheaply and save prior to deciding to have three kids in a place like Orleans Parish. I guess I'm drifting too far from the hypothetical OP but just saying
Posted on 2/15/18 at 10:49 pm to Mingo Was His NameO
2600+500= not close to 3000?
Posted on 2/15/18 at 10:50 pm to ThatMakesSense
quote:Those numbers are pretty accurate for Orleans Parish, trust me.
You 'tarded or house poor?
Posted on 2/15/18 at 10:50 pm to Clint Torres
quote:
2600+500= not close to 3000?
I would say 10% difference is not close, yes. Do you disagree?
Posted on 2/15/18 at 10:50 pm to Mingo Was His NameO
Redo your math
$400k mortgage at 4.25%
Homeowners insurance $4000 year
Flood Insurance $3800 year
Property Taxes $6200 year
3 kids in private School $30k year (that’s being cheap)
$400k mortgage at 4.25%
Homeowners insurance $4000 year
Flood Insurance $3800 year
Property Taxes $6200 year
3 kids in private School $30k year (that’s being cheap)
Posted on 2/15/18 at 10:52 pm to tgrbaitn08
quote:
Flood Insurance $3800 year
That happens in some really low lying areas that were crushed by Katrina but not typical at all. If you have a raised house in LV that helps a lot too. I'm in flood zone X and paid $650 last year
Posted on 2/15/18 at 10:55 pm to gorillaballin
quote:
That happens in some really low lying areas that were crushed by Katrina but not typical at all. If you have a raised house in LV that helps a lot too. I'm in flood zone X and paid $650 last year
I realize that, but that’s the reality and I’ve seen some premiums much higher. I’m using that number as an example
A 3000 sq ft home in zone X is going to cost much more than $400k
Posted on 2/15/18 at 10:56 pm to tgrbaitn08
quote:
I realize that, but that’s the reality and I’ve seen some premiums much higher. I’m using that number as an example A 3000 sq ft home in zone X is going to cost much more than $400k
Man stop making so much sense. You’re acting like, I don’t know, maybe you’ve been in the market for this kinda thing
Posted on 2/15/18 at 10:57 pm to tigercross
This is a never ending argument. Sure, some people wouldn't be comfortable with anything less than a Garden District home, G-class, and Learjet.
A family of 5 can live a perfectly enjoyable, fulfilled, non-tightwad lifestyle in New Orleans on $200k annually.
A family of 5 can live a perfectly enjoyable, fulfilled, non-tightwad lifestyle in New Orleans on $200k annually.
Posted on 2/15/18 at 10:59 pm to tgrbaitn08
A 400k mortgage makes me want to puke. You can buy a nice house off plank road for way less than that.
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