How much would you want to make for a certain house?
 

Just wondering what most of you would want to be making yearly after taxes to buy a 250-300k house? Something that you could plan on making that much for quite a while. Or I should say, atleast that much.

Sometimes I forget that $250,000 houses still exist, haha. You are lucky!

Ya I know, I found a nice place right now but it is over what I wanted to spend right now. 200k here gets something pretty nice. One for sale right now is nice, own shop with 3 car garage, 2 acres of land , 5 bedrooms etc.

I paid cash for my first house, $233k.

Depends on the types of interest rates you can get.
I would never want my mortgage payments+insurance to be more than 1/5th of my monthly income, some however are content with it taking up 1/3rd to 1/2 of their income.

I am not talking about interest only mortgages either.

Most of us can't do that though. Sure would be nice.

Ya interest will def have to be involved. Right now the way I see it I don't even want to be putting a third of my income into one property. 1/5th sounds pretty good though.

any other input

How much down payment do you want to pay?
Whats your interest rate?

Try using a mortgage calculator, but include closing costs / taxes / insurance / etc...

If you make 3-4k towards the house a month you should be fine...

yet you still can't hire a decant server admin..

$250,000, but I guess it will be way below my ideal hub..

this amount is good.

great reply :thumbsup

$300-400k will be good enough for me.

lol so your saying you would want to make 300-400k a year to pay 250-300k on a house?

Id think you'd want to make at least $60k a year to buy a $250-300k house.
A $300k mortgage with 5% down will have you paying ball park $1,800/month for piti, which is reasonably comfortable on a $60k a year salary. another $100'ish month for pmi

Theres so many little things that fuck up in a house so you should have extra monty to pay for it.

You cant even get a 1 bed 1 bath shitbox in my area for under $300k, so if you see something under $300k go for it

Here in this part of Nebraska 250-300k and I can pry get something nice custom built. I would def want to be making more then 60k/year for that big of loan though. If that was the case, I would be living in that new house right now.

No kidding, there are none here in OC.