There’s nothing wrong with wanting that. I did and it was a fantastic decision

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Sep 27, 2024
11:23:45am

stenso All-American

There’s nothing wrong with wanting that. I did and it was a fantastic decision

both from a financial and lifestyle standpoint. If you can’t afford to then that’s the reality. But if I had listened to people in 2016 telling me to wait for a bigger down payment or to “get established” I would be paying a lot more money for a lot less house.

This message has been modified

Originally posted on Sep 27, 2024 at 11:23:45am

Message modified by stenso on Sep 27, 2024 at 11:24:15am

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stenso

Bio page: stenso
Joined: Nov 4, 2018
Last login: Sep 27, 2024
Total posts: 7,900 (13 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?

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

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

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

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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