Monthly Mortgage Payment

[VeeragandhamVaampire]

36 minutes ago, Ravi860 said:

So basically 220k total savings unte thappa.. home buying ki NO anena 😯. Does desi folks buying homes really have that much savings? 

Yes mostly everyone has 200k  cash in bank before buy house 

[FrustratedVuncle]

1 hour ago, sarvayogi said:

general rule edo undi 40% of gross or net minchi payments undaddu ani

check affordability calculator

home konali ani pratokkadu oogipotadu but reality is this

rent --> 1500-2000 anukunte you just pay that and forget...extra unte 2000 you can invest..worst case S and P which will eventually grow though less now

house --> 5000 anukunte..hardly 500-800 is your principal..rest 4200-4500 phuket ke you are giving to bank and govt

you can build equity loveda ani cheppaddu...eppudo aloo lakshana time ki you will get equity but aa time ki nee paisal anta naaki padesaru govt and bank

after moving to SFH I understood...2 bed rental 1600-1800 range is best and invest the rest...

1200 sqft lo kids tho undalev bro. 

Houses appreciates 3% min every year statistically. So 800k *3% = 24000 comes to your pocket. luck bagunte they appreciate more. 

Over all if you plan to stay 5yrs min in a home of 500k-700k its very convenient and good investment.

[naughty15]

40 minutes ago, Ravi860 said:

So basically 220k total savings unte thappa.. home buying ki NO anena 😯. Does desi folks buying homes really have that much savings? 

instead of giving 20% downpayment, just put 5%, then remaining 15% invest on something and buy small apartment an drent it

[perugu_vada]

Illu konavu pettavu kani e komati setty lekkalu vesthav .. ma Austin telugite paruvu theesthunav ani antuna @Ravi860 @MiryalgudaMaruthiRao @Netflixmovieguz uncles

[chammakchandra]

2 hours ago, Sonu_Patel said:

Callling financial experts, Average ga oka 800K plus home ki mortgage payment average $5.5k per month ostundi.. 

our monthly take home net is $10k after all 401k, health insurance,  other deductions .. blah blah

What do you suggest ? 

For example if any one in family gets laid off, in that case net amount will be less. how are people able to make these financial decisions. 

Ur calc. it self is saying don’t buy.. why r u evening asking thar Q?

[areyentiraidhi]

4 minutes ago, perugu_vada said:

Illu konavu pettavu kani e komati setty lekkalu vesthav .. ma Austin telugite paruvu theesthunav ani antuna @Ravi860 @MiryalgudaMaruthiRao @Netflixmovieguz uncles

[Cosmos]

2 hours ago, Sonu_Patel said:

Callling financial experts, Average ga oka 800K plus home ki mortgage payment average $5.5k per month ostundi.. 

our monthly take home net is $10k after all 401k, health insurance,  other deductions .. blah blah

What do you suggest ? 

For example if any one in family gets laid off, in that case net amount will be less. how are people able to make these financial decisions. 

Why people buy big home and live like a beggar ? 
 

 

[FrustratedVuncle]

11 minutes ago, VeeragandhamVaampire said:

Who making 10K with family working these days ?? Individual net pay is more than 10K, everyone salary is minimum 180K in current market and with wife easy 20K net(excluding taxes, 401, insurance etc ) without any doubt 

ne yavva db lo sagam mandi padukoru eroju.

e Cali/Newyork/Seatle kakunda ekkada istunnaru saami aa range salaries. Of course MAANG kakunda

[Ravi860]

3 minutes ago, FrustratedVuncle said:

ne yavva db lo sagam mandi padukoru eroju.

e Cali/Newyork/Seatle kakunda ekkada istunnaru saami aa range salaries. Of course MAANG kakunda

Net max 7-8-9k range. More than 10k no chance other than cali like states 

[FrustratedVuncle]

3 minutes ago, Ravi860 said:

Net max 7-8-9k range. More than 10k no chance other than cali like states 

10k after all deductibles is doable and very very decent. 

[Pandubabu]

2 hours ago, Sonu_Patel said:

Callling financial experts, Average ga oka 800K plus home ki mortgage payment average $5.5k per month ostundi.. 

our monthly take home net is $10k after all 401k, health insurance,  other deductions .. blah blah

What do you suggest ? 

For example if any one in family gets laid off, in that case net amount will be less. how are people able to make these financial decisions. 

Simple bro .., 50% of net is not bad if you have 6 months of emergency fund. 

If job Fasaks, lean on emergency. 

[BommaliNinnodhala]

15 minutes ago, perugu_vada said:

Illu konavu pettavu kani e komati setty lekkalu vesthav .. ma Austin telugite paruvu theesthunav ani antuna @Ravi860 @MiryalgudaMaruthiRao @Netflixmovieguz uncles

Uncle when are you buying first adi chepu

[Thokkalee]

2 hours ago, Sonu_Patel said:

both working.. 10 % down and can pull 15% but it will wash out our savings. 

Morgage payment estimate $5.5k vastunadi.

what other maintenance costs should be considered ?

Is that including property taxes? Or is that extra? This seems very high to me… 

Ideally your home expenses (mortgage/ insurance/utilities/taxes) shouldn’t exceed 1/3 of your take home salary.. some people go till 40%… but remember that you are committing to pay this for the next 30 years.. not 4-5 years as in an auto loan.. the home expenses will only increase as you try to fill in the home with furniture and other renovations.. along the way, you will have to save for other future expenses or invest in other assets too.. 

go for a smaller or cheaper home within your means that is more affordable.. 

[BommaliNinnodhala]

8 minutes ago, FrustratedVuncle said:

ne yavva db lo sagam mandi padukoru eroju.

e Cali/Newyork/Seatle kakunda ekkada istunnaru saami aa range salaries. Of course MAANG kakunda

Uncle two jobs per head lekka cheptunadu

[Pandubabu]

17 minutes ago, naughty15 said:

instead of giving 20% downpayment, just put 5%, then remaining 15% invest on something and buy small apartment an drent it

Over leverage when op already has concern of layoff..