 Buying my own place? |
| this isn't really a question, more of a rant. i'm 19 and live in hackney, east london. i'm working as a teaching assistant and earn about 900 a month. my parents are driving me crazy ... |
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 When is a rental lease agreement binding if we sign the lease before the actually date the lease starts? |
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 2nd Mortgage help! I need a lender with balls...? |
| I need to refinance my second mortgage but most brokers that I've worked with shoot us down. We reworked out 1st mortgage about a year ago due to my wife being out of work. We were able to avoid ... |
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 Can I refuse to allow my land lord to enter my home? |
| I live in an apartment complex and they are constantly sending out 24 hour advance notices to let tennants know that they will be entering the apartment on a certain day between certain hours. S... |
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 Buying a property ? England answers only please.? |
How does a 20 year old purchase a property, that costs ÂŁ200,000 ?
Since she is only young can she get a mortgage and pay it off, during her life ?
Thanks, best answer gets 10 points.
<... |
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 Should we shop at around at diffrent banks for mortgage rates? |
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| My mortgage is $325k 1st loan & $107k heloc. Do i still have to pay the difference to my lender? Can they go after me even if i qualify for debt forgiveness?... |
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 When would you start packing? |
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 When is the best time to buy a house? |
| I live in Los Angeles and I want to buy a house, but it seems like the house prices are dropping. Is it best to buy a house when the prices are rising or lowering?... |
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| I always been on time with all my payments and my credit is very good, if I just stop making the paymets on my house, whats going to happend, will I get in trouble? what kind of trouble? or the bank ... |
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 Can landlord sue for this even after losing the house to foreclosure? |
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 Landlord didnt fix heater right now keeps asking if we want to buy the house? |
| My landlord is a do it yourselfer and replaced our heaters with 110's on a 220 circuit. It never heats up very well now and I keep telling them I am paying more for electricity but am always ... |
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Aleh | Could they afford an appartment? |
So a couple makes 23.25 per hour together. Is that enought for them to aford an apartment? can any one give me some links for apartments..
Thanks so much!
Additional Details
Thanks so much this helped alot. |
 |
 
RM
 |
Doesn't matter what you make per hour, what matters is how many hours they work- aka how much monthly income.
Assuming they both worth 40 hour weeks, that is $4,000 per month before taxes. Probably around $3,000 after taxes. They wouldn't want to get an apartment more than about $800/mo or they might find it's hard to pay some bills. |
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chatsplas
 |
Rule of Thumb: 1/4 of monthly income on housing. NO more than 1/3 for housing and all utilities (phones, cable, gas, water, electric). |
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Joan A
 |
As the others mentioned, it really depends on how many hours you are working. Assuming you are both full-time (40 hours/week), that's about $4000 a month before taxes, which would be about $3000/month after taxes. You really don't want to spend more than $1000/month on an apartment, and that's assuming you don't have any kids or anything. But in most places, you can easily find an apartment for less than that.
Try this great guide to apartment hunting --- it's unbiased and should help you a lot!!!
http://www.findingdulcinea.com/guides.topic__ss_categories_ss_homes_ss_Apartment-Hunting.html |
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Gypsy
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Our neighborhood wants tenants to make 3 times as much as the rent payment, so in example if rent is $1000, they want the household to make a minimum of $3000 per month. |
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arcticicedt
|
That is approx. $48,360 per year pre tax. Or about $34,819.20 after taxes. Which is $2901.60 per month. Depending on where this couple lives currently that should be more than enough.
Just as an Example lets say you have $500 for car payments and $150 for insurance. You spend $300 on groceries and about the same $300 for utilities. That's only $1250 out of $2901.60 spent. You will need gas so lets say $200 a month and we are up to $1450 basically half the total amount brought home a month. No depending on whatever other debts they have they should be able to afford something I woudl think. In PA where I live you can rent plenty of places for that amount.
Just one place from $610-$915 a month...
http://www.rentals.com/Home-Rentals/Display.aspx?ListingNumber=775967 |
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ibu guru
 |
If both are working full-time (40 hrs/wk), that's $4030/month gross. So they can afford an apartment up to an absolute maximum of $1000/mo, or about $1300/month max. including all utilities (electric, gas/oil, phone, cable, internet, trash collection if separate, water/sewer, or any other type of utility they require or want). If they are paying off student loans, new cars, or other large expenses, they will have to work out an itemized budget for their after-tax dollars which allocates existing obligations before considering max. rent.
apartments.com, etc. charges alot so they tend to get listings for larger and more expensive complexes. Check craigslist and your local newspaper classifieds. Most newspapers have an online edition with their classifieds, or get the local paper (Wed, Th, Fri are the best days of the week). The #1 place landlords go to for advertising vacancies remains the local newspaper! |
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Gertie
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You haven't supplied enough information.
How many hours do they work?
what are their other obligations? |
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Joy
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Try rent.com but you are better off looking in your local newspaper. Better deals from private owners. |
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Marysue
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www.forrent.com
www.apartments.com
Doesn’t really matter what you make per hour. You need to know what you make per month and per year, and compare that to the cost of living where you live. |
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