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What income do you need to live comfortably with 300k house?

assume you can buy a decent house for 300K...what income nee...
geriatric violet alpha
  09/17/18
$300,000. Stick with the old rule of thumb that your house s...
Cracking ruby cumskin menage
  09/17/18
This was the rule of thumb during the boomer good times. In...
Impressive institution corn cake
  09/17/18
I thought rule of thumb was 6 times after-tax income so OP s...
electric olive space therapy
  09/17/18
Median home price = $215k Median household income = $62k
beady-eyed dysfunction
  09/18/18
Pay cash for your house and everything else. Live a much hap...
Primrose Skinny Woman Kitchen
  09/17/18
(finance masterman)
geriatric violet alpha
  09/17/18
link to $14.5k house
Cracking ruby cumskin menage
  09/17/18
https://www.zillow.com/homes/for_sale/WV/pmf,pf_pt/208847295...
electric olive space therapy
  09/17/18
Looks like a house in the Fallout series.
comical pozpig
  09/18/18
Live like a monk until you have more.
Primrose Skinny Woman Kitchen
  09/17/18
I'm going to get on programs.
Cracking ruby cumskin menage
  09/17/18
200k
effete roommate nibblets
  09/17/18
300k house would be like a $1600 mortgage, so basically you'...
Puce vengeful gunner masturbator
  09/17/18
is that assuming 20% downpayment what if you put down 100...
geriatric violet alpha
  09/17/18
Get on Zillow and select any 300k house and click on the mo...
apoplectic hall
  09/17/18
$300k.
comical pozpig
  09/17/18
Like $100k
Razzmatazz self-centered theatre degenerate
  09/17/18
ofn
comical pozpig
  09/18/18
Pay cash for your home or get a negligible mortgage. 140-150...
Cyan brunch roast beef
  09/17/18
500k
nofapping property
  09/17/18
The standard advice is your gross income should be at least ...
Histrionic Half-breed Meetinghouse
  09/18/18
I have a 350k mortgage (2200 per month in payments) and mana...
Saffron round eye
  09/18/18
jfc where the fuck are houses that cheap
nofapping property
  09/18/18
https://www.zillow.com/homes/for_sale/Albuquerque-NM/fsba,fs...
Saffron round eye
  09/18/18
preschool costs 1600 a month in flyover? wtf? 700 debt p...
geriatric violet alpha
  09/18/18
I wish. I have 150 in student loans. When I got fired, it wa...
Saffron round eye
  09/18/18
Buy metal sprinkler heads dumbass
light motley rehab mexican
  09/18/18
Preschool is almost as much as your mortgage. LJL
provocative bearded trailer park new version
  09/18/18
Not even crazy.
comical pozpig
  09/19/18
A house should only be 1/3 of your income, so you should be ...
idiotic khaki keepsake machete twinkling uncleanness
  09/18/18
...
geriatric violet alpha
  09/18/18
IME HHI of about $125k.
Bat shit crazy indian lodge
  09/18/18
Is that really "comfortable"?
comical pozpig
  09/18/18
nothing is comfortable at that HHI
avocado site
  09/18/18
Depends where. Middle of the country that can be fine. Cos...
comical pozpig
  09/18/18
its not a comfortable life in any high COL area regardless o...
Bat shit crazy indian lodge
  09/18/18
OP included the word "comfortably" deliberately, I...
comical pozpig
  09/18/18
your interpretation results in there being no answer to OP's...
Bat shit crazy indian lodge
  09/18/18
If he made $300k+, I believe he could comfortably afford a $...
comical pozpig
  09/18/18
we are approaching it differently. you are starting from &qu...
Bat shit crazy indian lodge
  09/18/18
Let's assume $2k/month is either an apartment rental or a $3...
comical pozpig
  09/18/18
"Houses require insurance, taxes, upkeep, more furnitur...
Bat shit crazy indian lodge
  09/18/18
I keep going back to the concept of "comfortable"....
comical pozpig
  09/18/18
i'm surprised you mow your own lawn. also, you need a weed ...
Bat shit crazy indian lodge
  09/18/18
So am I. I started by trying various online services to try...
comical pozpig
  09/18/18
...
exhilarant sepia orchestra pit shitlib
  09/18/18
Not much. Assume your parents kick in 200k or so, you are pr...
silver forum antidepressant drug
  09/18/18
lol, just assume your parents buy the house for you
avocado site
  09/18/18
Only 2/3 of the house!
comical pozpig
  09/18/18


Poast new message in this thread



Reply Favorite

Date: September 17th, 2018 9:47 PM
Author: geriatric violet alpha

assume you can buy a decent house for 300K...what income needed

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36829299)



Reply Favorite

Date: September 17th, 2018 9:48 PM
Author: Cracking ruby cumskin menage

$300,000. Stick with the old rule of thumb that your house shouldn't surpass your annual pre-tax income.

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36829314)



Reply Favorite

Date: September 17th, 2018 10:47 PM
Author: Impressive institution corn cake

This was the rule of thumb during the boomer good times. In these uncertain times, your post-tax income should be double the price of your home.

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36829720)



Reply Favorite

Date: September 17th, 2018 10:48 PM
Author: electric olive space therapy

I thought rule of thumb was 6 times after-tax income so OP should be grossing no less than $3MM/year?

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36829727)



Reply Favorite

Date: September 18th, 2018 2:33 PM
Author: beady-eyed dysfunction

Median home price = $215k

Median household income = $62k

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36833437)



Reply Favorite

Date: September 17th, 2018 10:01 PM
Author: Primrose Skinny Woman Kitchen

Pay cash for your house and everything else. Live a much happier life.

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36829420)



Reply Favorite

Date: September 17th, 2018 10:03 PM
Author: geriatric violet alpha

(finance masterman)

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36829437)



Reply Favorite

Date: September 17th, 2018 10:25 PM
Author: Cracking ruby cumskin menage

link to $14.5k house

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36829603)



Reply Favorite

Date: September 17th, 2018 10:26 PM
Author: electric olive space therapy

https://www.zillow.com/homes/for_sale/WV/pmf,pf_pt/2088472954_zpid/61_rid/0-50000_price/0-202_mp/globalrelevanceex_sort/39.581349,-78.644257,38.02105,-81.377106_rect/8_zm/

almost heaven...

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36829607)



Reply Favorite

Date: September 18th, 2018 2:32 PM
Author: comical pozpig

Looks like a house in the Fallout series.

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36833432)



Reply Favorite

Date: September 17th, 2018 10:45 PM
Author: Primrose Skinny Woman Kitchen

Live like a monk until you have more.

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36829711)



Reply Favorite

Date: September 17th, 2018 11:25 PM
Author: Cracking ruby cumskin menage

I'm going to get on programs.

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36829997)



Reply Favorite

Date: September 17th, 2018 10:27 PM
Author: effete roommate nibblets

200k

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36829609)



Reply Favorite

Date: September 17th, 2018 10:27 PM
Author: Puce vengeful gunner masturbator

300k house would be like a $1600 mortgage, so basically you'd need to make like 60k a year.

to live "comfortably" I'd want to make 120K.

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36829611)



Reply Favorite

Date: September 17th, 2018 11:37 PM
Author: geriatric violet alpha

is that assuming 20% downpayment

what if you put down 100k

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36830066)



Reply Favorite

Date: September 17th, 2018 10:28 PM
Author: apoplectic hall

Get on Zillow and select any 300k house and click on the mortgage tab to get monthly payment estimates, with and without insurance and taxes.

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36829614)



Reply Favorite

Date: September 17th, 2018 11:38 PM
Author: comical pozpig

$300k.



(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36830074)



Reply Favorite

Date: September 17th, 2018 11:52 PM
Author: Razzmatazz self-centered theatre degenerate

Like $100k

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36830155)



Reply Favorite

Date: September 18th, 2018 2:30 PM
Author: comical pozpig

ofn

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36833418)



Reply Favorite

Date: September 17th, 2018 11:55 PM
Author: Cyan brunch roast beef

Pay cash for your home or get a negligible mortgage. 140-150K income for 300K home.

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36830173)



Reply Favorite

Date: September 17th, 2018 11:56 PM
Author: nofapping property

500k

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36830179)



Reply Favorite

Date: September 18th, 2018 12:15 AM
Author: Histrionic Half-breed Meetinghouse

The standard advice is your gross income should be at least one third of the amount financed, or 100k in this case

I am not a big fan of that advice since taxes vary quite a bit depending on your exact income and the state you live in

You might also have other large expenses like day care or child support to consider

On 100k I would want to be investing at least 20k per year and would live in a cheaper house if I couldn't invest at least that much

What is your after tax income and what are your monthly expenses?



(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36830319)



Reply Favorite

Date: September 18th, 2018 12:28 AM
Author: Saffron round eye

I have a 350k mortgage (2200 per month in payments) and manage to make it on 100k. It's not pleasant. But I have a lot of extras- saving 15% salary, $700 per month debt servicing. $1600 per month on preschool. Also paying off three central air units at $1k per month. Without those commitments, would be pretty stress fee, and that's a bigger mortgage than you're contemplating.

When I bought the house I was making almost twice as much and promptly lost my job two months later. I now wish I'd bought something smaller/cheaper/newer. But part of my income is $1200 per month in renting out the guest house. So I really would have to have a much smaller payment to be better off...

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36830418)



Reply Favorite

Date: September 18th, 2018 12:29 AM
Author: nofapping property

jfc where the fuck are houses that cheap

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36830428)



Reply Favorite

Date: September 18th, 2018 12:44 AM
Author: Saffron round eye

https://www.zillow.com/homes/for_sale/Albuquerque-NM/fsba,fsbo_lt/house_type/2093172663_zpid/23429_rid/3-_beds/300000-400000_price/1214-1618_mp/globalrelevanceex_sort/35.227111,-106.45649,34.937733,-106.895943_rect/10_zm/

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36830526)



Reply Favorite

Date: September 18th, 2018 12:29 AM
Author: geriatric violet alpha

preschool costs 1600 a month in flyover? wtf?

700 debt payments? student loans?

i'm hoping to have free daycare (family)until age 3 when i throw my kid into public kindergarten and let do

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36830432)



Reply Favorite

Date: September 18th, 2018 12:38 AM
Author: Saffron round eye

I wish. I have 150 in student loans. When I got fired, it was from a wfh securities job, and I was in flyover. It took 10 months to get rehired locally, and so most of the debt is credit card debt. Chipping at it. But so slowly. Hopefully after preschool ends this year, and the acs will be paid off in Feb... I'll be able to take care of it.

Of course, plumbing is hobbling along. Roots, old pipes, etc. Probably have to do that next. F old houses. I thought I got lucky because new roof and electric updated. But there's still so much shit. It's two acres, the entire thing is landscaped, and the first thing my asshole dogs did was eat all the inground sprinklers.

Preschool is one of the more expensive ones here. But truly excellent. I don't begrudge the funds.

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36830494)



Reply Favorite

Date: September 18th, 2018 9:47 PM
Author: light motley rehab mexican

Buy metal sprinkler heads dumbass

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36836935)



Reply Favorite

Date: September 18th, 2018 5:31 PM
Author: provocative bearded trailer park new version

Preschool is almost as much as your mortgage. LJL

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36834965)



Reply Favorite

Date: September 19th, 2018 9:39 AM
Author: comical pozpig

Not even crazy.

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36839292)



Reply Favorite

Date: September 18th, 2018 12:30 AM
Author: idiotic khaki keepsake machete twinkling uncleanness

A house should only be 1/3 of your income, so you should be making at least $900k per year.

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36830441)



Reply Favorite

Date: September 18th, 2018 12:31 AM
Author: geriatric violet alpha



(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36830443)



Reply Favorite

Date: September 18th, 2018 2:34 PM
Author: Bat shit crazy indian lodge

IME HHI of about $125k.

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36833452)



Reply Favorite

Date: September 18th, 2018 2:34 PM
Author: comical pozpig

Is that really "comfortable"?

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36833459)



Reply Favorite

Date: September 18th, 2018 2:36 PM
Author: avocado site

nothing is comfortable at that HHI

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36833468)



Reply Favorite

Date: September 18th, 2018 2:41 PM
Author: comical pozpig

Depends where. Middle of the country that can be fine. Costa Rica or Ukraine - fine. NYC/LA/SF areas - no.

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36833493)



Reply Favorite

Date: September 18th, 2018 2:38 PM
Author: Bat shit crazy indian lodge

its not a comfortable life in any high COL area regardless of your housing situation, but it's not an unmanageable mortgage payment.

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36833476)



Reply Favorite

Date: September 18th, 2018 2:42 PM
Author: comical pozpig

OP included the word "comfortably" deliberately, I presume.

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36833498)



Reply Favorite

Date: September 18th, 2018 2:43 PM
Author: Bat shit crazy indian lodge

your interpretation results in there being no answer to OP's question. presumably OP asked a question he believed could be answered.

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36833514)



Reply Favorite

Date: September 18th, 2018 2:45 PM
Author: comical pozpig

If he made $300k+, I believe he could comfortably afford a $300k house.

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36833521)



Reply Favorite

Date: September 18th, 2018 2:52 PM
Author: Bat shit crazy indian lodge

we are approaching it differently. you are starting from "comfortably" vis a vis lifestyle whereas im starting from a point that presumes a fixed shelter expense, which if you live anywhere decent is going to be around $2k/mo or something very similar to an all in monthly payment on a $300k mortgage.

Mine is the credited approach. Assuming OP is genuinely looking for advice, he likely won't be able to just increase the amount of money he makes to "comfortably" buy his $300k house.

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36833574)



Reply Favorite

Date: September 18th, 2018 3:01 PM
Author: comical pozpig

Let's assume $2k/month is either an apartment rental or a $300k house mortgage. IRL, the house will still be more expensive.

- Houses require insurance, taxes, upkeep, more furniture, lawn care/snow clearing

- Rentals usually include everything except electricity & gas

- If you need to move you're going to take a huge hit in selling costs

I recently moved into my nice new house. The expenses are just remarkable. Oh crap, the lawn. Lawn care company? Oh shit, how much? Ok, I'll buy a lawnmower. There's $500+. Oh, none of these air filters have been changed. Yeah, definitely need more furniture. Need smart locks. Shit, this faucet isn't working right. Etc. None of that would be an issue in an apartment rental.



(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36833636)



Reply Favorite

Date: September 18th, 2018 3:34 PM
Author: Bat shit crazy indian lodge

"Houses require insurance, taxes, upkeep, more furniture, lawn care/snow clearing"

I have a mortgage with an original principle amount of $300k. The monthly payment including taxes and homeowners insurance is $2,050. You don't automatically need more furniture. I have the same $150 lawnmower I bought years ago and a $100 weed whacker. I shovel my driveway. That leaves "upkeep". As a homeowner, I don't spend very much on this.

"Rentals usually include everything except electricity & gas"

Additional utilities I suppose are water, waste removal, sewage. These are not significant bills.

"If you need to move you're going to take a huge hit in selling costs"

While true, this applies to anyone who has ever purchased a house. Sure, affluent people can better absorb the hit, but life is full of risks, some minor, some major. This i feel is a minor risk assuming OP is relatively sure he wants to stay in the same area.



(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36833920)



Reply Favorite

Date: September 18th, 2018 5:11 PM
Author: comical pozpig

I keep going back to the concept of "comfortable". Yes, you could put in sweat equity and do everything yourself. But most won't and if they do they won't describe it as comfortable.

Also, my lawnmower cost like $500. But it is a really nice one. I think I'll forego the weed whacker entirely.

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36834777)



Reply Favorite

Date: September 18th, 2018 5:28 PM
Author: Bat shit crazy indian lodge

i'm surprised you mow your own lawn. also, you need a weed whacker man.

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36834938)



Reply Favorite

Date: September 18th, 2018 10:43 PM
Author: comical pozpig

So am I. I started by trying various online services to try to get a reasonably priced lawn service. Long story short, I failed and I was looking at spending an absurd amount of money on it. I don't have a huge yard so I figured do it myself for the rest of this year and see what happens next year. Maybe some kid will do it for $20-30/mow.



(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36837378)



Reply Favorite

Date: September 18th, 2018 2:36 PM
Author: exhilarant sepia orchestra pit shitlib



(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36833466)



Reply Favorite

Date: September 18th, 2018 2:42 PM
Author: silver forum antidepressant drug

Not much. Assume your parents kick in 200k or so, you are probably goos making 60 yourself

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36833499)



Reply Favorite

Date: September 18th, 2018 2:46 PM
Author: avocado site

lol, just assume your parents buy the house for you

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36833526)



Reply Favorite

Date: September 18th, 2018 2:47 PM
Author: comical pozpig

Only 2/3 of the house!

(http://www.autoadmit.com/thread.php?thread_id=4079961&forum_id=2#36833532)