Mana home afforadability range entha?

[andhrabullet]

120K FL single income aithe entha?

 

considering present market trend and rates.. no other debts 

 

online lo household income * 3  undi... adi mana desks ki workout avuthunda

[Vaampire]

There is no accurate formula for it man.

Aa formula ni bayarea lo apply chesthey evaru illu konaleru.

FL tax free state kanuka. 4X should be ok anukunta.but FL lo antha Pettadam worth aaa anedhi neekey teliyali

[jefferson1]

400K varaku vellochu... if you make 20%down

[veerigadu]

Standard calculation suggested by country's top financial advisor while I worked at chase 

Your car = 3×monthly pay 

Your home= 3*annual pay

Your investments= 1/2 of everything you earn. 

Life style= 15% of your pay

Bill's, mortages and groceries: 30% of your pay. 

Emergency fund: 5 to 10%

PS: I'm single with no kids. This might not be applicable if you have kids. 

[Vaampire]

1 minute ago, veerigadu said:

Standard calculation suggested by country's top financial advisor while I worked at chase 

Your car = 3×monthly pay 

Your home= 3*annual pay

Your investments= 1/2 of everything you earn. 

Life style= 15% of your pay

Bill's, mortages and groceries: 30% of your pay. 

Emergency fund: 5 to 10%

Bills, mortgages & groceries: 30% of ur pay...

I deadified... Ey place lo possible kooda cheppu.

[veerigadu]

6 minutes ago, Vaampire said:

Bills, mortgages & groceries: 30% of ur pay...

I deadified... Ey place lo possible kooda cheppu.

California and ny thappa everywhere its possible.

However desis buy 400k houses with 100k salary. It's stupid according to experts. 300k is our rightful range. 

[manadonga]

120k salary ki 400k koni migata bed rooms bayatai vallaki istunaru ga mana vallu 

[Gaali_Gottam_Govinda]

15 minutes ago, veerigadu said:

California and ny thappa everywhere its possible.

However desis buy 400k houses with 100k salary. It's stupid according to experts. 300k is our rightful range. 

I have seen 2 some Dumb H1b Contractors buy $500K - $600K homes 2 years back.......... oka ataniki job poyi 5 months no job or salary........  Wife emo MS 3 years chadivi last ki MS kooda complete cheyyaledu, so she's just homemaker with 2 kids......... These guys sold their home ultimately and moved back to 2 bedroom Apartment.

 

These kind of people will only learn through real life experience. 

[veerigadu]

6 minutes ago, Gaali_Gottam_Govinda said:

I have seen 2 some Dumb H1b Contractors buy $500K - $600K homes 2 years back.......... oka ataniki job poyi 5 months no job or salary........  Wife emo MS 3 years chadivi last ki MS kooda complete cheyyaledu, so she's just homemaker with 2 kids......... These guys sold their home ultimately and moved back to 2 bedroom Apartment.

 

These kind of people will only learn through real life experience. 

Ignorance in combination with appetite for grandiose. 

[Vaampire]

25 minutes ago, veerigadu said:

California and ny thappa everywhere its possible.

However desis buy 400k houses with 100k salary. It's stupid according to experts. 300k is our rightful range. 

Ohio lo 100k salary is good. 300k illu konadam correct nee calculation prakaram.

 

100k after tax will be 75k.. 30% of 75k is 22.5k.. mortgage, grocery, bills Etta possible 22.5k lo?

 

[Vaampire]

23 minutes ago, manadonga said:

120k salary ki 400k koni migata bed rooms bayatai vallaki istunaru ga mana vallu 

Adhi aithey daridram vaaa. Telisinathanu( married + kid), 4 bedroom illu konni 2 bedrooms rent ki ichadu. He is making good money too

[veerigadu]

3 minutes ago, Vaampire said:

Ohio lo 100k salary is good. 300k illu konadam correct nee calculation prakaram.

 

100k after tax will be 75k.. 30% of 75k is 22.5k.. mortgage, grocery, bills Etta possible 22.5k lo?

 

300k illu ayithe. 20% down pedthamu. 240k will be the loan. So the mortgage will be around 1100 if you get decent interest rate. Other 1000 for the utilities and other bills. It can be done. It will be tight but manageable. 

[veerigadu]

3 minutes ago, Vaampire said:

Adhi aithey daridram vaaa. Telisinathanu( married + kid), 4 bedroom illu konni 2 bedrooms rent ki ichadu. He is making good money too

That business model is not okay for all ankuls. Especially if they have ladies and family visiting  over. No fool should plan his financial calculus based on this bussiness plan. 

[csrcsr]

1 hour ago, andhrabullet said:

120K FL single income aithe entha?

 

considering present market trend and rates.. no other debts 

 

online lo household income * 3  undi... adi mana desks ki workout avuthunda

Rent migilika tax breaks anni count chesuko  , antha koncham ekva takva lo monthly payment ayipovali including property taxes , don't go for luxury alaage malli illi area, Illu mari pathaga undodu basically easy ga amudupoyetatlu undali

[Vaampire]

9 minutes ago, veerigadu said:

300k illu ayithe. 20% down pedthamu. 240k will be the loan. So the mortgage will be around 1100 if you get decent interest rate. Other 1000 for the utilities and other bills. It can be done. It will be tight but manageable. 

Property tax Inka chaala karchulu untayi.

3% interest rate ki monthly payment 1300 for 240k loan. Which is like 16k. Monthly $500 lo migitha bills, grocery Etta possible vayya? Costco ki easy ga avuthayi 500 per month kids untey.

Nuvvu annatu manage cheyyochu.. $1 karchupettadaniki kooda 100 times alochinchinappudu.