What percentage of your take home goes to your mortgage?
- Thread starter EveryoneBleedsGarnet
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A little over 1/3 but I rent and I don't work full time. I'll be working full time or more by August.
I think buying houses and mortgages are a scam, for the average person.
I think buying houses and mortgages are a scam, for the average person.
Luckily the locker room is only for above average people.
Zero. We paid off both houses and the lake lot 5 years ago.
As a sales guy it depends on the month / quarter / year. Last year about 14%. Bad month 20% great month 6%. There can be a pretty big swing.
The goal is / was to have my house paid for in 5 years from time of purchase, so I've been paying substantially more than the ask. But I'm the cheapest son of a bitch you ever met. I wear Levi's and drive cars to a quarter of a million miles. I bought my house 25 months ago and am a little over 50% of the way finished paying for it.
The goal is / was to have my house paid for in 5 years from time of purchase, so I've been paying substantially more than the ask. But I'm the cheapest son of a bitch you ever met. I wear Levi's and drive cars to a quarter of a million miles. I bought my house 25 months ago and am a little over 50% of the way finished paying for it.
My wife is convinced I still have my lunch money from elementary school.
17% I'm pretty sure "the scam" is working out pretty well for me vs. renting.
Tell her it's up to about 40k now...
What's more than full time?
Yea, buying a place to live is just a fad.....it will never catch on.
Renting and getting nothing in return is where it's at...
You do realize when you rent you are basically paying someone else's mortgage for that property?
Currently at 15% but that will increase to 19% once our first child is born and she leaves the workforce.
Getting nothing in return except a place to live and keep all of your stuff. And if anything breaks they'll fix it for you. And you don't have to worry about insurance or tax swings. And if a great job opportunity pops up across the country you can leave at your pleasure by paying a reasonable penalty.
Renting makes a lot of sense for a lot of people.
Free wears a pair of Levis that are 15 years old, but the pockets are brand new.
My house & our lake place are free & clear, one of the benefits of being old & having not jumped from house to house through the years. We built our home within a couple of years of getting married (we've lived in it for 25+ years) & bought the lake place about 16 years ago.
Have mortgages on a couple of rental places, where we have some chump paying the mortgage, taxes & insurance.
So Brian is your tenant?Free wears a pair of Levis that are 15 years old, but the pockets are brand new.
My house & our lake place are free & clear, one of the benefits of being old & having not jumped from house to house through the years. We built our home within a couple of years of getting married (we've lived in it for 25+ years) & bought the lake place about 16 years ago.
Have mortgages on a couple of rental places, where we have some chump paying the mortgage, taxes & insurance.
My business is doing well and I have my sights set on a 500k house. How much of a monthly disbursement should I have comfortably?
Full time is 40 hours per week.
Renting and getting nothing in return is not renting. I rent and I get a fully furnished place, cable TV, cleaning, utilities, landscaping, maintenance, etc., all included. 1,200 square feet for $900 a month. I live 20 miles north of Washington D.C. It's definitely suburbs but I don't mind. My landlord's mortgage is probably $2,500 a month, not including all the other costs that go into home ownership. His total monthly cost is probably $3,500.
You do realize that buying isn't a great investment when compared with the stock market; not even close. You also have to put in the down payment, which usually is a lot. My security deposit was $200.
You do realize that until the mortgage is paid off, the bank owns the house...not you? Essentially, you're a slave to the bank for 20 years or so. My lease is month to month, so I can move at anytime. And the price will never go up. It's in the lease
But you can enjoy paying all the taxes, insurance, maintenance, upkeep, etc., etc. so you may get a return that keeps up with inflation when you finally sell your house
I see buying a house like signing a marriage contract. Most people do it but most of them shouldn't.
Full time is 40 hours per week.
Renting and getting nothing in return is not renting. I rent and I get a fully furnished place, cable TV, cleaning, utilities, landscaping, maintenance, etc., all included. 1,200 square feet for $900 a month. I live 20 miles north of Washington D.C. It's definitely suburbs but I don't mind. My landlord's mortgage is probably $2,500 a month, not including all the other costs that go into home ownership. His total monthly cost is probably $3,500.
You do realize that buying isn't a great investment when compared with the stock market; not even close. You also have to put in the down payment, which usually is a lot. My security deposit was $200.
You do realize that until the mortgage is paid off, the bank owns the house...not you? Essentially, you're a slave to the bank for 20 years or so. My lease is month to month, so I can move at anytime. And the price will never go up. It's in the lease
But you can enjoy paying all the taxes, insurance, maintenance, upkeep, etc., etc. so you may get a return that keeps up with inflation when you finally sell your house
I see buying a house like signing a marriage contract. Most people do it but most of them shouldn't.
There is no possible way that you pay $900 for a place that your landlord is paying $3500 for. If he was paying anywhere near that cleaning, landscaping and cable would have stopped yesterday. At least be realistic in your fabricated tales.
I have two rental properties, if I was recovering less than a third of what I was putting into the place from my tenant I would be violating every orifice of that tenant contractually at my every whim. I'd probably write their Grandman and third grade teacher into the agreement too.
Tell her it's up to about 40k now...
Down from $43k huh? Now we're negotiating.... $36 is a good number, I could my wife to go for $36.
$900 is what I have been paying since I moved in here, which was June of 2014. I'm not sure exactly what my landlords mortgage is. I just estimated it.
I don't lease the entire house. I lease the 1,200 square foot basement AKA garden level
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$900 is what I have been paying since I moved in here, which was June of 2014. I'm not sure exactly what my landlords mortgage is. I just estimated it.
I don't lease the entire house. I lease the 1,200 square foot basement AKA garden level
My son is getting ready to go to the DC area for an internship. Can you let us know about a similar sweet heart deal?
He hates the idea of buying...
Craigslist is all I can recommend.
That's how I found my estate. I also found some similar ones but this one was particularly sweet. He probably can, too.
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No mortgage but still pay insurance, property tax, talquin, waste pro, comcast and a few others.
20% but in my take home pay I exclude 401K contributions and ESPP contributions. My 20% also includes insurance and property taxes and it is a 15 year mortgage. I pay 1K per month in equity. Essentially I am "renting" a 5/3 with pool in the best school district in Orlando for $950 per month (less if you count tax effects). I couldn't get a decent two bedroom apartment in an OK part of town for $950, but I do have to pay for repairs and maintenance. My interest rate is 3.25, so I am not in a hurry to pay it down too fast as opposed to making other investments.
Renting is a great way to go if you know you won't stay put for five years or if property values are too high such as 2008. I want to have this house paid off before I retire to eliminate all debt.
Renting is a great way to go if you know you won't stay put for five years or if property values are too high such as 2008. I want to have this house paid off before I retire to eliminate all debt.
$900 is what I have been paying since I moved in here, which was June of 2014. I'm not sure exactly what my landlords mortgage is. I just estimated it.
I don't lease the entire house. I lease the 1,200 square foot basement AKA garden level
20 miles north of DC, where? $900 for a basement is standard around here.
