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Sep 27, 2024
11:02
:51
am
Soupie
Grandma Sycamore
This is big. People will only look at mortg payment but if you have a $150 HOA, that could push you up to a
single family with no HOA if added to a house payment.
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Soupie
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Soupie
Joined
Dec 29, 2015
Last login
Sep 27, 2024
Total posts
101,032 (32,525 FO)
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Messages
Author
Time
Help me do the math here on owning a house. Topic of discussion so use me as a
BaseCoug
10:48am
Where?
Courtimedes
10:49am
Wherever I’m lucky enough to get an offer probably. In reality I will rent
BaseCoug
10:52am
Don’t count yours dollars until you land a job.
germ1
3:03pm
You mean Salt Lake Valley?
stoils
10:53am
Everyone can afford a home. Even TNT.
DirtyWater
10:52am
More lucrative is $90,000? What field?
Wife_Apologist
10:52am
Nice humblebrag…
ochobeeguy
11:06am
That’s a really good starting salary after undergrad.
stenso
11:21am
OP is getting his Masters... in lucrative field.... sounds like we agree
Wife_Apologist
11:25am
Where are you living and do you want to start saving for retirement right away?
rad dawg
10:54am
This is big. People will only look at mortg payment but if you have a $150 HOA, that could push you up to a
Soupie
11:02am
That, and HOAs are an affront to my sense of independence.
Courtimedes
11:40am
Daughter bought a 3 bdr 2 bth starter a year ago with $30K down on a teacher's salary. Yes, you can
Soupie
10:57am
Impressive. That is not easy. Lots of sacrifices involved.
Acorn
11:12am
It took me 8 years out of college before I bought a home. If you expect to
BostonCougar
10:59am
I bought my first home as an undergrad.
DirtyWater
11:04am
Same here. I bought a condo while going to school. Glad I did.
Tim Riggins
11:10am
There’s nothing wrong with wanting that. I did and it was a fantastic decision
stenso
11:23am
Your taxes will be way lower
veddarhall
11:01am
I hope so, I just went from the first thing on google
BaseCoug
11:09am
Not if he is including state, SS, and Medicare taxes.
RGGeemer
11:31am
27% rate on $90k seems very high
veddarhall
1:49pm
Are you accounting for kids?
rad dawg
2:00pm
No way
RGGeemer
3:25pm
This shows net tax rate should be 8% or so. Federal
veddarhall
3:28pm
Now add in 7.65% fica and 4.55% state (assuming utah). You're at 20.2%
RGGeemer
3:38pm
And the 8% is taking into account child tax credits which he won't have.
RGGeemer
3:47pm
Not really. With deductions I'd say he should round up to 70K take home.
JuicyJam
11:39am
No, 5500 is about right.
BNcoug
11:58am
So house payment of $1600 should be okay. Unfortunately that will take a fixer or big down payment.
Soupie
1:09pm
Some people also find themselves with 10% less
ochobeeguy
11:04am
The best place to start is to download the Zillow or Redfin apps.
elmerfudd
11:12am
Do they have condos and stuff you can buy too? This is probably what I would
BaseCoug
11:13am
Yes, you can filter by price of house, size of house, type of house, essentially
elmerfudd
11:37am
Don't forget tithing
RGGeemer
11:29am
Unless you have some savings, you’re not ready for your first home.
KingDave
12:06pm
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