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Wife and I make $215k, she wants to buy $925k house
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Date: January 23rd, 2018 8:15 PM Author: hateful macaca toaster We have $720k saved up, mostly in stocks.
It comes with a garden-level apartment that could rent out for $1400/month. |
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Date: January 23rd, 2018 11:52 PM Author: Blue stead so you almost have the entire price of the house in savings and it comes with an apartment that rents out for $1400 now and will likely go up in rental price over the years...
is this a serious question? |
Date: January 23rd, 2018 8:16 PM Author: Pink mad-dog skullcap sounds like you can do this (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221325) |
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Date: January 23rd, 2018 8:16 PM Author: hateful macaca toaster does it? i dunno mang (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221328) |
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Date: January 23rd, 2018 8:19 PM Author: Pink mad-dog skullcap how much will you put down as a downpayment? It really all comes down to that. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221367) |
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Date: January 23rd, 2018 8:23 PM Author: hateful macaca toaster ? standard 20% down seems most cost-effective... (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221417) |
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Date: January 23rd, 2018 8:30 PM Author: Pink mad-dog skullcap so you've got about $740,000 mortgage there assuming 30 year mortgage at 4.3% (estimate), that is $3,662.05 per month.
$3,662.05 minus $1400 for the garden apartment = $2262 (EDIT - you will be paying monthly taxes and insurance of a couple hundred bucks extra each month FYI)
Extremely doable for a couple making $215k a year. Probably a nice house too. I'm jealous. |
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Date: January 23rd, 2018 9:58 PM Author: hateful macaca toaster not gonna lie, it's a nice house. it's a landmarked house, but gut reno'd. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35222356) |
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Date: January 23rd, 2018 8:16 PM Author: Laughsome circlehead cruise ship @realdonaldtrump- 2m ago:
She said she wanted a 900k house on a 200k income. I said no! |
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Date: January 23rd, 2018 8:18 PM Author: marvelous house (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221359) |
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Date: January 23rd, 2018 8:48 PM Author: plum temple (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221671) |
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Date: January 23rd, 2018 8:48 PM Author: Bat shit crazy school cafeteria multi-billionaire (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221678) |
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Date: January 23rd, 2018 8:51 PM Author: ruby trip nursing home (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221703) |
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Date: January 23rd, 2018 9:15 PM Author: Spectacular Crackhouse Mediation (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221943) |
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Date: January 23rd, 2018 9:19 PM Author: Provocative Grizzly Heaven Electric Furnace (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221983) |
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Date: January 23rd, 2018 8:17 PM Author: orchid electric halford What’s the issue here? (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221336) |
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Date: January 23rd, 2018 8:17 PM Author: Kink-friendly red theater stage haunted graveyard Whats your monthly budget? (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221337) |
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Date: January 23rd, 2018 8:19 PM Author: hateful macaca toaster We live like paupers, mostly because we fear COL will only go up in our area and we'll be priced out.
$140k take-home -$18k rent -$25k other expenses ---------------- Save like $97k/year |
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Date: January 23rd, 2018 8:26 PM Author: Floppy arrogant dog poop double fault LMAO. She’s going the other direction now buddy (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221445) |
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Date: January 24th, 2018 9:06 AM Author: exhilarant main people This. Hos big is thr house? Get ready for a 6 figure furniture bill (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35224777) |
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Date: January 24th, 2018 12:21 AM Author: Self-absorbed stock car $18k rent for the both of you? that's pretty good. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35223518) |
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Date: January 23rd, 2018 8:18 PM Author: Laughsome circlehead cruise ship lmao the worst part of it is you're going to be forced to share your home with an absolute stranger in the garden apt and you can't even walk around in your underwear like a MAN in his KINGDOM. You're a pussy if you agree to that. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221352) |
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Date: January 23rd, 2018 8:20 PM Author: hateful macaca toaster ? the garden apt is completely separate.
but yeah, no nude sunbathing in backyard.
wouldn't be possible anyway even without a garden apartment, bc it's an urban neighborhood |
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Date: January 23rd, 2018 8:22 PM Author: Laughsome circlehead cruise ship Do things that make you STRONG. Jfc clean your room. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221407) |
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Date: January 23rd, 2018 8:19 PM Author: olive kitchen Go for it (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221368) |
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Date: January 23rd, 2018 8:21 PM Author: Federal razzmatazz cuck university Um this scenario sounds entirely plausible, fuck you and your non problems and rational life planning, some of us are trying to MAEK it (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221391) |
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Date: January 23rd, 2018 9:16 PM Author: Spectacular Crackhouse Mediation (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221946) |
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Date: January 23rd, 2018 9:22 PM Author: charismatic peach parlour brethren (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35222004) |
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Date: January 23rd, 2018 8:22 PM Author: passionate voyeur area tell her you pick the tenant. advertise to backpage hookers and strippers telling them $150/mo and pick the hottest. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221396) |
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Date: January 23rd, 2018 8:22 PM Author: Pink mad-dog skullcap (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221412) |
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Date: January 23rd, 2018 9:14 PM Author: Provocative Grizzly Heaven Electric Furnace (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221908) |
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Date: January 23rd, 2018 10:11 PM Author: Narrow-minded godawful clown legal warrant woah Cr (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35222494) |
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Date: January 24th, 2018 12:23 AM Author: Self-absorbed stock car sounds good in theory but she's gonna bring a crazy/trashy vibe to your house. better to rent it out to a quiet superstudy asian chick. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35223523) |
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Date: January 23rd, 2018 8:23 PM Author: apoplectic unholy mexican gas station how much are the taxes? (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221413) |
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Date: January 23rd, 2018 8:24 PM Author: hateful macaca toaster ~$13k (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221420) |
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Date: January 23rd, 2018 8:25 PM Author: vigorous immigrant how much is your current rent? how much is it to rent a place comparable to the house? do you need a place comparable to the house?
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Date: January 23rd, 2018 9:59 PM Author: hateful macaca toaster current rent is $1500, rent controlled so it can only go up with inflation but it's a dilapidated shithold. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35222369) |
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Date: January 23rd, 2018 10:07 PM Author: vigorous immigrant well done. $215k and living on $18000 rent is admirable. it's put you into a position to consider overspending for housing. i don't like buying a house so expensive under these circumstances, but if this is the house you intend to retire in, then it's probably doable. how old are you both? how safe are the jobs? you know you are one less job away from being foreclosed upon if you get such an expensive house vs being able to live where you are at indefinitely even without a single income edit. i forgot about the rent out apartment. that makes it a much more viable option
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Date: January 23rd, 2018 10:13 PM Author: hateful macaca toaster thanks mang. one of the reasons we've been supersaving is because future rents/prices in the area we live in are so uncertain. market rents have gone up like 10% year-over-year for the last 10 years. and house prices have gone up 20% just in the last year.
"how old are you both? how safe are the jobs? you know you are one less job away from being foreclosed upon if you get such an expensive house vs being able to live where you are at indefinitely even without a single income"
I'm 31, wife is 28. my job is probably pretty safe, but hers is in a cyclical industry. yeah, good point about what happens if there's a recession and we lose a job--we've discussed it.
i mean, all in as long as my job is safe i think we could afford it without dipping into savings. if i lose my job, we'd probably have to dip into savings, but we have almost $720k saved up. but if there's a recession that $720k is gonna only be like $500k (it's invested in index fund ETFs) |
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Date: January 23rd, 2018 10:19 PM Author: vigorous immigrant son of a bitch you've done well being that young. if one of you loses a job, i think you take steps right away to preserve cash from savings so you don't get double bitch slapped from no job and etf going to shit. otherwise, i think you can cruise along as you are. in some sense, this is just diversifying your investments. that's good. real estate has gone up a lot recently. bad. but so have stocks. good. |
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Date: January 23rd, 2018 8:24 PM Author: vigorous immigrant (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221421) |
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Date: January 23rd, 2018 8:23 PM Author: Talented giraffe plaza Lmao (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221418) |
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Date: January 23rd, 2018 8:24 PM Author: hateful macaca toaster explain (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221426) |
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Date: January 23rd, 2018 8:25 PM Author: Laughsome circlehead cruise ship (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221434) |
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Date: January 23rd, 2018 8:47 PM Author: Bat shit crazy school cafeteria multi-billionaire (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221665) |
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Date: January 23rd, 2018 11:53 PM Author: claret brunch (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35223385) |
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Date: January 23rd, 2018 8:26 PM Author: Violet embarrassed to the bone pit You could comfortably do it with a tenant, but you'd be better off putting the 720k into ZIL. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221448) |
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Date: January 23rd, 2018 8:28 PM Author: Floppy arrogant dog poop double fault Or up his ass but let’s be real, it’s going to the house (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221462) |
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Date: January 23rd, 2018 8:30 PM Author: lavender hairy legs the tenant will likely "rape" your wife (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221478) |
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Date: January 23rd, 2018 8:44 PM Author: Laughsome circlehead cruise ship can't wait till he comes home and it's some tatted up badboy and his wife is like "he's perfect! and he can do manual labor stuff around the house!" (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221637) |
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Date: January 23rd, 2018 8:48 PM Author: charcoal hot stag film affirmative action For me, one of the main purposes of home ownership is security and privacy.
I can't imagine paying $1 million and having a random living on my property 365 days a year. |
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Date: January 23rd, 2018 8:48 PM Author: plum temple (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221674) |
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Date: January 23rd, 2018 8:49 PM Author: passionate voyeur area pretend it's a serf. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221679) |
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Date: January 23rd, 2018 8:49 PM Author: Bat shit crazy school cafeteria multi-billionaire (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221683) |
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Date: January 23rd, 2018 8:52 PM Author: frum milk it could also be a nigger or a beaner, lol at paying 1 mil to share your home with a nigger (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221713) |
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Date: January 23rd, 2018 10:00 PM Author: Cowardly church would b3 great for an au pair or something assuming kids one day. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35222389) |
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Date: January 23rd, 2018 10:01 PM Author: hateful macaca toaster for us it would be living in a non-shithold without having to fear that rents will continue to rise 10% per annum forever (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35222402) |
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Date: January 23rd, 2018 8:48 PM Author: Aqua cracking state u=cuck (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221673) |
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Date: January 23rd, 2018 8:49 PM Author: Laughsome circlehead cruise ship if your wife even proposes something like this, you know she doesn't respect you (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221680) |
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Date: January 23rd, 2018 8:51 PM Author: Aqua cracking state (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221698) |
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Date: January 23rd, 2018 8:49 PM Author: plum temple Will the renter also fuck the insanity out of your wife? If not, then I wouldn't go through with it. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221685) |
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Date: January 23rd, 2018 8:50 PM Author: aromatic domesticated french chef We have a $1.3 million house on dual biglaw incomes and I feel like it’s too much. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221694) |
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Date: January 23rd, 2018 9:18 PM Author: Razzle-dazzle Friendly Grandma Orchestra Pit Because it is (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221968) |
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Date: January 23rd, 2018 11:51 PM Author: Blue stead no it's not, assuming they're not first years. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35223371) |
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Date: January 24th, 2018 12:22 AM Author: Razzle-dazzle Friendly Grandma Orchestra Pit Assuming they are not partners, it is (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35223519) |
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Date: January 23rd, 2018 8:54 PM Author: Fantasy-prone umber locus athletic conference Guaranteed she'll want a Cayenne and 150k in new furniture within 90 days of closing. My advice: divorce and start over. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221727) |
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Date: January 23rd, 2018 9:11 PM Author: Chocolate drunken elastic band If he divorces he will have to pay alimony lol (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221887) |
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Date: January 23rd, 2018 9:15 PM Author: olive kitchen * Murder (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221929) |
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Date: January 23rd, 2018 9:22 PM Author: violent wagecucks site Is this legal advice? (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35222012) |
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Date: January 23rd, 2018 9:59 PM Author: hateful macaca toaster nope (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35222375) |
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Date: January 23rd, 2018 9:03 PM Author: black stubborn feces garrison I bought an expensive house and liked it but god damn . . . I was stretched really thin when the crypto boom started and could barely put anything in. Literally the difference between working and wagecucking for the rest of my life. You can AFFORD it but it isn't the best use of your $$$. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221835) |
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Date: January 23rd, 2018 9:16 PM Author: violent wagecucks site If you're coastal global elites, do it. It's insane but you won't get poured out in the worst case. Also, never ever divorce. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221950) |
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Date: January 23rd, 2018 9:17 PM Author: olive kitchen LJL at calling this poormo a coastal elite (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221956) |
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Date: January 23rd, 2018 9:21 PM Author: violent wagecucks site He and wife can still eat food. I'm assuming their parents pay for down payment. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221997) |
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Date: January 23rd, 2018 10:00 PM Author: hateful macaca toaster no, we're self-made. essentially saved up $100k per year over last 7 years. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35222385) |
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Date: January 23rd, 2018 9:19 PM Author: Provocative Grizzly Heaven Electric Furnace doable, until she gets pregnant and you are down to one income (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35221982) |
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Date: January 23rd, 2018 9:23 PM Author: passionate voyeur area and up to 3 tenants. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35222018) |
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Date: January 23rd, 2018 9:24 PM Author: charismatic peach parlour brethren (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35222038) |
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Date: January 23rd, 2018 10:01 PM Author: hateful macaca toaster we already have a kid, but our parents take care of him during the day (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35222391) |
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Date: January 23rd, 2018 9:22 PM Author: Bisexual vivacious community account ape sounds completely within your means. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35222011) |
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Date: January 23rd, 2018 9:40 PM Author: Beady-eyed becky mother How’s dc (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35222184) |
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Date: January 23rd, 2018 10:02 PM Author: hateful macaca toaster something like that (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35222407) |
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Date: January 23rd, 2018 10:12 PM Author: supple nighttime whorehouse Howd you save so much money? That's ~$200k household income, right? (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35222501) |
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Date: January 23rd, 2018 10:14 PM Author: hateful macaca toaster yeah, we live like poors. pay $1500/month for a rent-controlled 2-BR shithold apartment, cook at home rather than eating out, our mothers take care of our toddler, live in an urban neighborhood where we don't need to own a car to get around, etc.
it's easy for me because i grew up prole as fuck. |
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Date: January 23rd, 2018 10:21 PM Author: vigorous immigrant in your shoes, i'd rather retire early. if that's not as important to you both, and it's obviously not, then buy one of your parents is going to end up in your garden renter |
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Date: January 23rd, 2018 10:33 PM Author: supple nighttime whorehouse impressive (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35222757) |
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Date: January 24th, 2018 12:25 AM Author: Self-absorbed stock car good job. she's a keeper if she's happily participating. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35223538) |
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Date: January 23rd, 2018 11:52 PM Author: contagious deranged casino cuckoldry Wife and I earn about $250k. We'd have to be more careful with money, but i think we could afford a house in that ballpark. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35223381) |
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Date: January 23rd, 2018 11:55 PM Author: Blue stead yeah but at 250K I wouldn't recommend that. the key fact here is that OP has 700K+ saved up already so he could pay the mortgage for years on that alone.
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Date: January 23rd, 2018 11:55 PM Author: claret brunch of course you can afford it, retard. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35223400) |
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Date: January 23rd, 2018 11:56 PM Author: Blue stead cr.
some of these threads are so ridiculous I wonder if people like that just want us all to pat him on the back and tell him how good he's doing. not gonna do it, no sir. |
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Date: January 24th, 2018 6:46 AM Author: Bateful Tripping Center Striped Hyena (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35224357) |
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Date: January 23rd, 2018 11:58 PM Author: Soul-stirring sepia travel guidebook $300k income here. House was $350k. It has plywood on some of the walls. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35223409) |
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Date: January 23rd, 2018 11:59 PM Author: Blue stead current mortgage on said property? (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35223413) |
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Date: January 24th, 2018 12:00 AM Author: Misunderstood menage candlestick maker Like everybody else said, be careful about who you choose as the tenant; you'll have less geographic flexibility than you do renting; and do your homework as far as making sure the house is priced similar to comps (because it's a big decision. Sure if you stay many years it evens out to some degree, but you don't want to overpay up front on something so expensive). But if you're already cool with all that and you just have the cash flow question yeah you can totally afford it. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35223421) |
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Date: January 24th, 2018 12:28 AM Author: Glittery hideous coffee pot Buying an expensive home is a complete money pit that has very poor ROI once you factor in mortgage interest, property taxes, and property maintenance. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35223547) |
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Date: January 24th, 2018 12:30 AM Author: Self-absorbed stock car Alternative question based on OP:
What's the ideal price of a home for couple making $215K (before taxes)?
$720K in savings is substantial. I'd say they can definitely afford the house. Aside from the down payment, if they didn't want to dip into their savings, if they rent out the room at $1400/mo and save $97K/yr, they could pay the house off, they could pay it off in 7 yrs.
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Date: January 24th, 2018 2:59 AM Author: motley buck-toothed set preventive strike I fucking hate the UMC (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35224060) |
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Date: January 24th, 2018 8:58 AM Author: swashbuckling space move to the suburbs. fuck raising kids in some urban shithole. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35224726) |