Are YOU able to keep your housing expenses at or below 28% of your gross pay?

[Anonymous]

Wow! I calculate this differently. I include tax, maintenance, HOA, insurances, bills, security, etc. Mine goes up to about 50% net pay. If I just did mortgage on my gross salary it's more like 10%.

[Anonymous]

Anonymous wrote:23% (about $6375 monthly) on $27666 gross (about $330k HHI). Wish it were lower!

No you don't as you bought a big expensive house.

[Anonymous]

Yes, we are at 15%. Bought in 2008. Just a copule of Fed workers, not Boomers, either. We bought a little house and have made only modest improvements to it, even though we were approved for a mortgage 4x what we have.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yes. Make decent money and don't have to compensate for my insecurities by buying a giant house.

That’s such a dumb take.

Not the pp you quote, but I agree with them. The trend of 3-4 people living in 5-7k sf houses that they can barely use screams insecurity.

[Anonymous]

Anonymous wrote:Ughh boomers

and ... I'm a pp and not Boomer either. Gen X.

[Anonymous]

7%

[Anonymous]

Yes, we are at about 5% including taxes and insurance.

[Anonymous]

Anonymous wrote:Wow! I calculate this differently. I include tax, maintenance, HOA, insurances, bills, security, etc. Mine goes up to about 50% net pay. If I just did mortgage on my gross salary it's more like 10%.

What bills do you include? Utilities?

We’re at about 15% because we bought small 10 years ago and live with the imperfections.

[Anonymous]

I’m that anal. I just want what comes I is a lot less than what goes out.

[Anonymous]

Only if I live in a tent outside.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes. Make decent money and don't have to compensate for my insecurities by buying a giant house.

That’s such a dumb take.

Not the pp you quote, but I agree with them. The trend of 3-4 people living in 5-7k sf houses that they can barely use screams insecurity.

Nope, it screams that they have different priorities. If they can easily afford it, having a nice house is…nice.

[Anonymous]

I consider housing expenses to be mortgage/rent, HOA, internet, electricity, gas.

Ours is 3.2K now, take home HHI is 12k. So, 26% of take home.

We are renting here. Buying in this market is too expensive but we do own a condo outright in another area. We rent it out.

[Anonymous]

Anonymous wrote:23% (about $6375 monthly) on $27666 gross (about $330k HHI). Wish it were lower!

Do you pay income tax?

You might want to check your math.

[Anonymous]

Yes. Two teachers in Chicago area. 15 year mtg +property taxes+ all utilities + insurance at 2k a month. Our HHI is at 200k/yr. We will have house paid off in 3 years.

[Anonymous]

Yes, we make combined about 270k / year. We rent at a $4800 / month. Add in utilities and cable / internet (water and trash and landscaping are covered in rent) and we’re a bit over $5k / month.

We also have income from investments but tend to reinvest that and I generally don’t factor it into considerations about what housing we can afford. (If we found a house we could kind of afford then I’d use the investments, but not to cover rent.)