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Minimum household income for $1.5 million house assuming $30k in property taxes
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Date: May 1st, 2025 9:40 AM Author: Aromatic Cream Space Useless Brakes and HOA fees annually. About to pull the trigger on this golf course property.... Property tax + golf course HOA = $32k per year. (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48895935) |
Date: May 1st, 2025 9:44 AM Author: Passionate deep whorehouse ape $800k (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48895939) |
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Date: May 1st, 2025 9:44 AM Author: Boyish garrison tank 500k (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48895940) |
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Date: May 1st, 2025 9:45 AM Author: Peach soul-stirring office sweet tailpipe $300k (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48895943) |
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Date: May 1st, 2025 9:48 AM Author: deranged violent hospital 200k (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48895946) |
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Date: May 1st, 2025 9:49 AM Author: Zippy address How much is P&I on the mortgage? (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48895954) |
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Date: May 1st, 2025 9:52 AM Author: adventurous main people legend hoa of 32k is killself level so just enough to buy a gun and end it all (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48895961) |
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Date: May 1st, 2025 9:54 AM Author: sapphire kitchen HOA is $2k, tax is $30k.
In any event, double gross income is safe so $750k |
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Date: May 1st, 2025 9:55 AM Author: adventurous main people legend are you living on a golf course in nj or ca? (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48895969) |
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Date: May 1st, 2025 1:07 PM Author: sapphire kitchen I live above the interstate. Reread the initial post. $32k all in, not $32k HOA. (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48896395) |
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Date: May 1st, 2025 2:36 PM Author: adventurous main people legend k i see youre not op but 2% is a lot for ptaxes (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48896643) |
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Date: May 1st, 2025 5:16 PM Author: sapphire kitchen Depends on where you are …. (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48897101) |
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Date: May 2nd, 2025 11:20 AM Author: umber community account half-breed It is shit but it is the norm in some places... Fortunately those places are easily avoided
Lol @ paying 30k annually for boomer pensions, I couldn't look at myself in the mirror |
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Date: May 1st, 2025 3:57 PM Author: kink-friendly submissive den kitty Uh... why are you answering as though you're the OP?
Drunkard = Are Reptile?
Lmao wow |
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Date: May 1st, 2025 6:07 PM Author: umber community account half-breed He was just summarizing what he could clean from the thread title (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48897237) |
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Date: May 1st, 2025 1:08 PM Author: disrespectful kitty cat Shouldn’t buy more than 4x or 5x one’s gross income is the rule of thumb
So 300-400k |
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Date: May 1st, 2025 1:11 PM Author: Well-lubricated base background story the "rule of thumb" is more like 2.5-3x gross income (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48896411) |
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Date: May 1st, 2025 2:42 PM Author: disrespectful kitty cat 2. The 28% rule If you’re following this general rule, you shouldn’t spend more than 28% of your gross income (what you take home before taxes) on your mortgage payment (principal and interest).
Example: If your household income is $100,000, then you can afford to spend around $2,300 on your mortgage principal and interest per month; with these numbers, and assuming you have good credit (a score of 680+) and 6.7% for a down payment, then you should be looking at homes priced around $450,000.
https://www.homelight.com/blog/buyer-how-much-house-can-i-afford-rule-of-thumb/ |
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Date: May 1st, 2025 2:43 PM Author: seedy offensive puppy (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48896660) |
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Date: May 1st, 2025 2:47 PM Author: Well-lubricated base background story lmao (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48896674) |
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Date: May 1st, 2025 4:57 PM Author: umber community account half-breed Seems ruinous (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48897066) |
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Date: May 1st, 2025 2:55 PM Author: Nudist location dog poop Net worth? Down payment? Being "house poor" would be rough, and you risk falling into foreclosure if you cut it too close on income and get behind on mortgage payments.
If you have 7 figures invested (you wouldn't be asking if you had more than that invested), you (a) don't need to save as much, as you should earn $100k+ each year in investment growth, and (b) don't have to worry about foreclosure nearly as much.
Assuming you're putting 20% down and looking at something like $10k/month PITI + HOA, I'd say you need $350k HHI if you have good savings/investments, $500k HHI (and good job security) if you don't.
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Date: May 1st, 2025 2:55 PM Author: umber community account half-breed jfc @ 30k/year in property taxes ljl (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48896702) |
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Date: May 1st, 2025 2:56 PM Author: bearded church building karate Wife is trying to get me to buy a $1.3M house with a $27k tax bill without selling our current house which would be converted to a 2 unit rental.
cr? |
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Date: May 1st, 2025 2:57 PM Author: Galvanic Selfie Private Investor Convert your wife to a rental (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48896709) |
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Date: May 2nd, 2025 10:42 AM Author: Peach soul-stirring office sweet tailpipe Actually don’t. Bc his luck she will make $1 million on OF and say “see how easy it is to make money? You’re a loser! I’m leaving you for a Tall man on a yacht!” (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48898613) |
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Date: May 2nd, 2025 10:53 AM Author: bearded church building karate i'm actually not known for having bad luck. (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48898637) |
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Date: May 3rd, 2025 12:12 AM Author: Galvanic Selfie Private Investor good riddance (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48900612) |
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Date: May 1st, 2025 3:02 PM Author: marvelous national The problem is the $30k property taxes. At least with RE you can justify it bc it’s an “asset.” $30k is Ruinous. Like 20% of OYT’s net worth. (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48896722) |
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Date: May 1st, 2025 3:21 PM Author: Well-lubricated base background story shut the hell up loser (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48896771) |
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Date: May 1st, 2025 3:49 PM Author: marvelous national Just stating facts, champ. (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48896852) |
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Date: May 1st, 2025 3:11 PM Author: Red house I thought you were pretending to live in Florida these days. The only places with 2% property taxes are Illinois, NJ, and Texas. So enjoy New Jersey! (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48896750) |
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Date: May 1st, 2025 4:53 PM Author: umber community account half-breed Lol @ living anywhere that charges this outrageous property TTTax raTTTe (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48897056) |
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Date: May 1st, 2025 4:58 PM Author: Chocolate feces Same hypo, but only $5k in taxes. Minimum HHI? (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48897068) |
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Date: May 1st, 2025 5:18 PM Author: deranged violent hospital 150k (http://www.autoadmit.com/thread.php?thread_id=5719200&forum_id=2#48897105) |