Google gives various answers and calculators that give wildly different calculations. I like the human breakdown reddit provides so I have turned to you good people for some easy to read numbers.
How much "house" fits into our budget?
Expenses per month: Internet- 45.00 Water - 40.00 Gas/electric - 170.00 2 cell phones - 100.00 Subscriptions/Credit card purchases - 150.00 Rent - 1000.00 Car insurance - 300.00 Gas - 100.00 Animal food: 100.00 Entertainment - 200.00
Take home income after taxes and pension contributions for both of us: 7000-8000 per month. It varies based on how much overtime my husband chooses to do, but it doesnt go below 7k.
We have 70k saved, with the plan of putting approx 40k on a down payment, 5k + for closing fees, and saving 25k for an emergency fund/general savings.
Houses in our area go for approx. 280-350k.
Based on those numbers, how much "house" can we realistically buy before the house becomes too much in our monthly budget?
Submitted January 04, 2020 at 07:55PM by idonthavefleas https://ift.tt/2FrfacB
