Ive been looking at apartments and I've been wanting to buy a decent 1br.
I make roughly 230k although it's a little more nuanced.
Roughly 150k is straight salary. 60k is from monthly vesting stock grants. Roughly 20k is from a yearly guaranteed bonus.
In terms of assets, I have about 200k in liquid assets as well as another 150k in assets for retirement that i dont want to touch.
In terms of expenses i dont really have many. My cellphone + subscription services is about $150. I dont have a car and my health insurance is free from work. I also dont currently pay rent (back to living with my parents). I do go out with my gf and that ranges heavily depending on the month. Anywhere from $0 to $1500.
My search criteria has been 1br apartments with >600sqft, hoa fees <$900 in the downtown Brooklyn area or nyc.
If we count only my cash based salary, my take home (after all taxes and 401k deduction) is about $6500/mo.
I found a decent apartment for about 650k and with the mortgage, hoa fees, property taxes, and insurance, the monthly payment is about $4000
If we only count my cash based salary, is $4000 manageable on my take home salary?
I dont like counting the stock based income because technically it can be worth a lot less if the stock dips heavily although right now its worth more.
I'm kind of worried about the potential HOA fee increases and property tax increases in the following years would push the apartment into an unaffordable range for me.
Submitted December 05, 2020 at 10:33PM by adjustable_beard https://ift.tt/36M2iMP
