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re: What percent of your Net Income goes to your mortgage?
Posted on 5/9/19 at 7:18 pm to jimbeam
Posted on 5/9/19 at 7:18 pm to jimbeam
quote:that's good to know . i probably won't buy for another ten years
the landlord?? I’m not saying renting is bad but the break even time in the majority of places using reasonable comparisons between renting and buying is 5 years
0
Posted on 5/9/19 at 7:33 pm to Sev09
0%. House paid for! ??
Posted on 5/9/19 at 7:41 pm to LSUtwolves
quote:What it’s worth and what you can get for it are not always the same. I see so many houses sitting for sale right now, it’s crazy.
I bought my house 5 years ago for 185k. It's now estimated at 250k.
Posted on 5/9/19 at 10:22 pm to Geauxtiga
not in my neighborhood. houses sale the day they're put on the market, always above list
Posted on 5/9/19 at 11:18 pm to Not Cooper
17% of my net
10% of my wife and I combined.
10% of my wife and I combined.
Posted on 5/9/19 at 11:35 pm to crazycubes
15% of gross could be spent on mortgage/housing ... I wouldn’t suggest any higher.
Posted on 5/9/19 at 11:41 pm to Not Cooper
About 1/3 but I’m single and childless so I don’t have many expenses. Thank god
Posted on 5/10/19 at 12:47 am to Not Cooper
Zero now, but for my first 2 houses I kept it at about 20% of gross. At 20% you can still save for retirement and have a little pocket change.
Net? I ain't doing mathematics after happy hour...
Net? I ain't doing mathematics after happy hour...
Posted on 5/10/19 at 12:58 am to Not Cooper
About 12 or 13%
Posted on 5/10/19 at 4:35 am to yellowfin
How much house can I get with a 200k down payment and a 2800$ a month mortgage?
Posted on 5/10/19 at 6:15 am to go_tigres
quote:
I’ve been at the 20-25%, but that was miserable.
We're at 24% right now, luckily that includes insurance and property taxes. It definitely isn't a comfy feeling, but the wife went back to school full time, graduates in two more years....will probably bring us to 10% then if not better.
Posted on 5/10/19 at 6:29 am to Not Cooper
Rough calculation.. ~13% of household income including good insurance and taxes. We're going to probably move to a slightly bigger house in a couple of years so that could go up some. Could go as high as 18%.
This post was edited on 5/10/19 at 6:30 am
Posted on 5/10/19 at 6:32 am to Not Cooper
22%
Posted on 5/10/19 at 6:34 am to Not Cooper
The old rule of thumb is to afford a house no more than 3x your annual salary and a vehicle no more than 1/3 of your annual salary.
So, for a $100k salary. House should be less than $300k and vehicle should be under $33k.
Most don’t follow this, but it is sage advice.
If you really want to get ahead, reduce both to half these targets and get them paid ASAP.
Your income is your most powerful wealth building tool. So, either find ways to make more money, or reduce your liabilities to achieve the same result.
Good luck!
So, for a $100k salary. House should be less than $300k and vehicle should be under $33k.
Most don’t follow this, but it is sage advice.
If you really want to get ahead, reduce both to half these targets and get them paid ASAP.
Your income is your most powerful wealth building tool. So, either find ways to make more money, or reduce your liabilities to achieve the same result.
Good luck!
This post was edited on 5/10/19 at 1:54 pm
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