 Selling my house? |
| my house has been on the market for just under 7 months and it still hasnt shifted. we have dropped it 10 grand but still no interest. theres no chain as we dont live in it anymore but we cant rent ... |
|
 We just bought a house. We are having it inspected, but they don't test for radon? |
| Does anybody recommend that we do? I hear if there is a problem, that the seller has to pay for it. Please advise.... |
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 Apartment lease? |
| If I got approved on an apartment lease, and got the keys, and been living there for 2 months, paying my bills, and then I wanted to help out a friend, and allow him to live with me for free, does he ... |
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 Is a 70 year old man too old to start a farm? |
| He has the health, resources, education and imagination.... |
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 Is it better to live on the first floor or the second? |
| I'm going to be renting an apartment soon and I'm trying to decide if I want to live on the first floor or second. I've lived on the second floor before but not the first. What I ... |
|
 What are some possible risks of cosigning for a house with a friend? |
| My friend asked me to cosign with him and his wife but what are some cons of doing this? It's my first time and I really know nothing about it. Would it last for years? What will happen if ... |
|
 Why is the UK so unfair to the homeless ? |
| Homeless people would like to have a normal life but in UK there is a real housing shortage, now nobody can afford a house or afford to pay for a house. Many families are repossessed and nobody gives ... |
|
 Why are flats in New York so cheap? |
| I was looking at flats in New York for sale, and came across quite a few that are under $5000, why?? I am from England, so that is equivilent to about £2600, which would barely buy you a piece of ... |
|
 Buy an expensive house or a modest one? |
| I make $4K a month after paying taxes, have no debt and have an excellent credit score (820 FICO). I'm considering buying a house for $330K with 3% downpayment. I was approved for the loan and ... |
|
 Where should I move in London? |
| I'm moving to London and I will be working in Richmond. I'm in mid-20s and want to live somewhere that is close by but would be fun for me. So, i want a fun hip area.... |
|
 My life is ruined.? |
GOOD NEWS: In 2005 my 1998 honda civic was finally paid for. I had 26k in the bank. No debts. No obligations.
BAD NEWS: In 2006 I made the stupid mistake of buying a 100k condo and an acre ... |
|
 Does an email count as written notice? |
| I'm sending an email to our landlord (basically saying 'if you dont do what you've been promising, then we're going to withold rent') and I know that you need to give written ... |
|
 Who has left their rent slip this week? |
| o.k so all the christmas preesies are costing too much now.will have to make it up next week.... |
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scott m | How much of my total income should i spend on my house payment? |
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steven_primm
|
A good rule of thumb is that the mortgage payment, taxes, interest, and insurance should be no more than 1/3 of your gross income.
This leave 1/3 for income taxes, and 1/3 to live on, i.e. car, food, gas, utilities, etc. |
|
Uh huh, go on I'm listening
 |
28% of your monthly income is typically what banks go by.
But anywhere between 25% and 30% is a good range on a banker's stand point. |
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dale_jdc
|
A safe estimate is no more than 25-30% of your take home pay, that means after taxes and all deductions. |
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Real Estate Guy
|
Between 25 and 30%. However, it depends on your income. If you are earning 45,000 a year, then you should be spending LESS (around 22%) on your payment then someone that has a 100,000 income. WHY? because each person has fixed costs like phone, cable, food, car, etc. And these fixed costs take up more of the income of the 45k then the 100k person.
You shouldn't be house poor. EVERYONE should be saving at least 10% of their gross income in their 401k and general savings.
Buy less house and save!!!!!! each month. Don't be house poor and don't live month to month.
Remember, the home that you had to have today becomes the house you can't afford tomorrow. |
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michael g
|
One quarter
Remember your 401k and roth IRA investments also |
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Xenu
 |
I believe it's about 1/3 of your income max. |
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lady_em_2001
|
No more than 1/3 or 33% of your monthy take home pay should go towards rent or a mortgage payment. |
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donfletcheryh
|
IT depends on your income. With a very large income you may spend more as a percentage because you can. With a very small income you may not get a home unless you pay more.
If buying a home far from work means you have to drive to work, while buying close to work means you can walk, you can afford a higher part of your income to live closer to work.
So, you should evaluate everything that goes into the cost of living that relates to where you live. There is no one percentage good for all. |
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shari
 |
No more than one paycheck. You'll need the other 3 for utilities, car, food and GAS! |
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rhsaunders
|
A classic figure for this was about a third. But most people nowadays can and do spend more, as the cost of other necessary products has decreased with respect to income. |
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