Here's my situation: I'm a 27-year-old woman currently living back home with my parents and saving for a down payment on a house. I work full-time and earn $2,080 per month after taxes, health insurance, etc. because they take it all out of my check before I get it. In my area, any small, decent house (I'm actually primarily looking at townhomes) is pretty much going to be in the $190-220k range. That translates to about $1000-1,1000 per month total for housing cost, including the mortgage payment, home insurance, housing association fee, and taxes.
To give some more info: I have good credit, no debt, no car payment (I own my car in full), no kids, and generally very low expenses. I just have to cover the usual basics: car insurance + gas, groceries, utilities, etc.
So, essentially: is home ownership feasible for me? Is paying half of your after-tax income for a home too much? Or is it doable if you don't have other debts?
Submitted January 04, 2019 at 11:30AM by holly_dane http://bit.ly/2QmetEM
