Lrt it drop

[iamwiz82]

Originally posted by: wyvrn
Figure about 1% of purchase price every month for payment + insurance + taxes. So around $1200 (may be lower depending on high your RE taxes are locally). You monthly income is $2600, so 46% of your gross would be going to the house, and that is excluding utilities. That's way too high, most lenders will recommend getting that percentage below 30. I would look at renting until your income goes up.

Our house, including taxes and everything is just about .78%. I would bet his property tax will be pretty low.

 

[Turkish]

Frickin cheap houses you all are talking about... :Q

 

[jcovercash]

Housing in NC is cheap. This house for 120k is REALLY nice. I can be a fixer up for 50k that is a few years old. A decent used/almost new house for 75k-90k. This is a 3 BR/2 bath/Patio/2 Car garage/1400 Sq feet for 119000.

I honestly think I can afford it, I don't live the high life, This house is in a nice neighborhood and I could be satisifed with it for my lifetime no problem. It has about 1 acre of land. I don't eat out that much, I enjoy cooking. I don't waste alot of money, I just put alot into my hobbies which I could easily back off of and it not bother me.

Josh

 

[Descartes]

Originally posted by: jcovercash
Housing in NC is cheap. This house for 120k is REALLY nice. I can be a fixer up for 50k that is a few years old. A decent used/almost new house for 75k-90k. This is a 3 BR/2 bath/Patio/2 Car garage/1400 Sq feet for 119000.

I honestly think I can afford it, I don't live the high life, This house is in a nice neighborhood and I could be satisifed with it for my lifetime no problem. It has about 1 acre of land. I don't eat out that much, I enjoy cooking. I don't waste alot of money, I just put alot into my hobbies which I could easily back off of and it not bother me.

Josh

So, to summarize: You'd be house poor.

 

[jadinolf]

Originally posted by: Descartes

Originally posted by: jcovercash
Housing in NC is cheap. This house for 120k is REALLY nice. I can be a fixer up for 50k that is a few years old. A decent used/almost new house for 75k-90k. This is a 3 BR/2 bath/Patio/2 Car garage/1400 Sq feet for 119000.

I honestly think I can afford it, I don't live the high life, This house is in a nice neighborhood and I could be satisifed with it for my lifetime no problem. It has about 1 acre of land. I don't eat out that much, I enjoy cooking. I don't waste alot of money, I just put alot into my hobbies which I could easily back off of and it not bother me.

Josh

So, to summarize: You'd be house poor.

Yep

Taxes
Insurance
Repairs
Upkeep
Trash pick up

on and on and on