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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: sooty awkward death wish 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: ebony sickened spot 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: Dun duck-like community account institution 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: sooty awkward death wish 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: Dun duck-like community account institution 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: sooty awkward death wish ? 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: Dun duck-like community account institution 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: sooty awkward death wish 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: Disrespectful razzmatazz center @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: Racy gas station regret (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: lascivious heaven therapy (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: Electric Bearded Cuck (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: Wild fishy indian lodge (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: Twisted office (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: alcoholic cruel-hearted tattoo market (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: Spectacular smoky yarmulke son of senegal 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: cerise pozpig 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: sooty awkward death wish 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: curious crotch 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: Comical milky old irish cottage home 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 bipolar theater stage brethren $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: Disrespectful razzmatazz center 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: sooty awkward death wish ? 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: Disrespectful razzmatazz center 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: amber jap 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: Adventurous Kitchen 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: Twisted office (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: Beady-eyed Honey-headed Dilemma (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: Indecent national security agency 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: Dun duck-like community account institution (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: alcoholic cruel-hearted tattoo market (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: chartreuse box office 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 bipolar theater stage brethren 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: passionate casino ladyboy 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: sooty awkward death wish ~$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: zippy swashbuckling volcanic crater coffee pot 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: sooty awkward death wish 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: zippy swashbuckling volcanic crater coffee pot 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: sooty awkward death wish 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: zippy swashbuckling volcanic crater coffee pot 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: zippy swashbuckling volcanic crater coffee pot (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: Buck-toothed Chestnut Coldplay Fan Stage 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: sooty awkward death wish 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: Disrespectful razzmatazz center (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: Electric Bearded Cuck (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: Stubborn heady stead psychic (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: lemon persian forum 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: curious crotch 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: aphrodisiac stage giraffe 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: Disrespectful razzmatazz center 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: Wine Lay 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: lascivious heaven therapy (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: Indecent national security agency 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: Electric Bearded Cuck (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: Rusted Confused Weed Whacker 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: jet-lagged massive field jewess 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: sooty awkward death wish 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: Charismatic Godawful Stain Base 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: Disrespectful razzmatazz center 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: Charismatic Godawful Stain Base (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: lascivious heaven therapy 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: poppy church clown 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: Impressive shrine 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: ebony sickened spot 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: Impressive shrine 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: Walnut legend affirmative action 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: mustard useless blood rage sanctuary 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: amber jap * 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: Fragrant abode 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: sooty awkward death wish 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: Dashing Crystalline Trailer Park Black Woman 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: Fragrant abode 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: amber jap 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: Fragrant abode 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: sooty awkward death wish 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: alcoholic cruel-hearted tattoo market 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: Indecent national security agency 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: Beady-eyed Honey-headed Dilemma (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: sooty awkward death wish 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: cowardly orchestra pit dragon 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: 180 rehab 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: sooty awkward death wish 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: Indigo contagious cumskin 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: sooty awkward death wish 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: zippy swashbuckling volcanic crater coffee pot 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: Indigo contagious cumskin 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 bipolar theater stage brethren 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: purple public bath corn cake 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: ebony sickened spot 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: Stubborn heady stead psychic 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: ebony sickened spot 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: orchid floppy meetinghouse (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: very tactful motley sneaky criminal area $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: ebony sickened spot 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: hideous potus church building 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: Boyish ape ticket booth 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 bipolar theater stage brethren 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: shaky cordovan french chef 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: Bateful offensive native famous landscape painting move to the suburbs. fuck raising kids in some urban shithole. (http://www.autoadmit.com/thread.php?thread_id=3868869&forum_id=2#35224726) |