Housing Costs- Budget101 Discussion List

What % of your total "NET" income goes for housing? Renting or buying and location. Sussi

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Thread: Housing Costs

  1. #1
    Sussi
    Guest

    Default Housing Costs



    What % of your total "NET" income goes for housing?
    Renting or buying and location.

    Sussi


    [Non-text portions of this message have been removed]


  2. #2
    Michelle
    Guest

    Default Re: Housing Costs



    Kathy wrote:
    "That is so right! The last time my husband looked at rates the calculator
    said we could afford a home of $180,000. My jaw dropped! We could not
    possibly afford to do that and expect to put healthy food on the table."

    Kathy, at least you (and many others) are able to realize that just because
    someone says we can afford it does not mean that it is actually "doable".
    Too many people get themselves into a huge house payment and then can't keep
    up the house -- literally.

    My grandmother and I were just talking about this subject this morning. I'm
    watching some of my neighbors move into these houses and then the house
    starts needing repairs and they can't afford them. What was a great
    investment turns into a falling apart house that can't get the re-sale value
    because the homeowners can't "actually" afford the house to begin with! It
    is a vicious cycle!

    What upsets me the most is watching young adults, with no homeowning
    experience, qualify for the huge mortgages, get themselves into a house, and
    only then realize what a HUGE responsibility it is to own a home. It is sad
    that we don't have more classes or mentors for first time homeowners!!

    guess I got to rambling here -- sorry!!

    Michelle in DE


  3. #3
    kc7ttm@webtv.net
    Guest

    Default Re: Housing Costs



    Well, housing costs here is about 36% of our net, and if you include
    utilities it jumps to about 43% of our net income. We live in
    Washington state


  4. #4
    Carole Scandrol
    Guest

    Default Housing Costs



    I worked the graveyard shift for four years whn our kids were little, and hubby put them to bed. I worked 9PM to 5AM 5 days a week. It's much betterthan paying a babysitter, but I must tell you, you have no idea what TIRED isuntil you've done that for a while! I got home at 6AM, changed clothes and had to get the kids up for school. The older one (age 7) caught the school bus, but I then had to drive the younger one (age 5) to pre kindergarden. It was only 1/2 a day, so by the time I got back home, I got all of an hour and a half sleep before I had to go pick him up. I felt fine, but if we went to a movie, I simply couldn't keep my eyes open. I mean COULDN'T! I actually would try to hold my eyelids open with my fingers, but the darkness in the theater was just too much! I even fell asleep at a traffic light on the way home from work a few mornings.

    Working the graveyard shift works greatfrom the $$ side, but it's very difficult to manage on 3 to 4 hours sleep a night!

    Carole




  5. #5
    Herlean
    Guest

    Default Housing Costs


    I did some of that in college. You're right. It's a tough shift, plus studying and driving. Money was good for a person putting herself through school. Herlean

    Carole Scandrol <napi21@charter.net> wrote: I worked the graveyard shift for four years whn our kids were little, and hubby put them to bed. I worked 9PM to 5AM 5 days a week. It's much betterthan paying a babysitter, but I must tell you, you have no idea what TIRED isuntil you've done that for a while! I got home at 6AM, changed clothes and had to get the kids up for school. The older one (age 7) caught the school bus, but I then had to drive the younger one (age 5) to pre kindergarden. It was only
    1/2 a day, so by the time I got back home, I got all of an hour and a half sleep before I had to go pick him up. I felt fine, but if we went to a movie, I simply couldn't keep my eyes open. I mean COULDN'T! I actually would try to hold my eyelids open with my fingers, but the darkness in the theater was just too much! I even fell asleep at a traffic light on the way home from work a few mornings. Working the graveyard shift works greatfrom the $$ side, but it's very difficult to manage on 3 to 4 hours sleep a night! Carole


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  6. #6
    Jaimie Hering
    Guest

    Default Housing Costs


    I read about all of your housing costs and have no idea how you all make it. I live in Wisconsin and our morgage is $232.00 a month, gas is approx. 100.00 a month and so is the electric. I am a stay at home mom and my husband works at a glass plant. We live in a rural area just north of a tourist city. There is no way we could afford to live elsewhere. Renting a home ( 2 bed. 1 bath) in this area is right around 350-400 with everything included. My neice lives in a city - Rockford, Ill. and pays over $1000.00 a month for a one bedroom apartment plus everything else....and she just barely makes it. I have told her over and over...if you cant afford to live there, then there are places where you can live pretty cheap, just not in the city. And trust me, its hard to make it on one income even where we live! *smiles* I give you all credit because if we
    didnt have such cheap resources here then we would never make it, we live paycheck to paycheck most times.

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  7. #7
    ~trina~
    Guest

    Default Housing Costs




    Then don’t move to S. CA or NY.(main city)

    Average home in LA can cost 400,000 +

    Remember ,costs of living and wages are
    different too, depending on area

    I have never known rent to be that low, unless
    I was like 7yrs old

    Otherwise, 2bdroom to rent can be $
    1,400.00 –that’s how much it was when we moved and that was an
    apartment!!

    -my bro in law just moved and he was happy
    to find a 4bdrm to rent for $1600.00 in a Cruddy area(gangs and schools aren’t
    soo good)

    I wouldn’t live there at all.—he
    was better off in the mobile home he was at.

    Anyhow, $$ can be dependent om many
    factors.

    ~trina~


    -----Original Message-----




  8. #8
    Catherine Cushing
    Guest

    Default Housing Costs


    I'm including N. CA to your list of "don't move" areas. We lived 20 min N of SF in Pleasant Hill renting a 3 bdrm, 1 bath, no central heat and no AC, 55 y/o home for $1450. I was making $22/hr as a transcriptionist and my DH was at $15/hr with Great Clips. But with $800/month on childcare, almost $400/month auto insurance...and the "dot-com crash" (I had finished an AA in Graphic design and he finished an BA in the same, we escaped to my home town of San Antonio Texas. Today, 5 years later, we are renting a 2 y/o 2 story 3/2/2 corner lot with central everything for $950, paying $150 for afterschool care, $133 for the same 2 vehicles, and I'm making $18/hr as a transcriptionist and my DH is now in a graphic design position at $14/hr (he was making about $18/hr as a PT barber). Location, Location, Location BTW, my parents purchased their 30 year old 2 story 4/2.5/2 approx 1800sq
    ft home for $64,000 and they own a $550/month 2/1/2 townhome (mortgage on rental $300/month). Do your research!!! Catherine

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  9. #9
    cath359@aol.com
    Guest

    Default Housing Costs




    Not neccessarily,your Payment may go up. Because of a rise in property taxes, increased insurance cost, etc., our payment is now about $1000. When we first bought the house 15 years ago, it was $665. That's on a fixed 6% loan. Our property taxes along with all other costs of living have sky rocketed in my area where we can't even get by on 3 jobs between 2 people anymore.
    Cathy
    www.cathyscreations.com

    //Typically, a mortgage will go down the longer you are in it.//


    See what's free at AOL.com.



  10. #10
    Tina Vaughn
    Guest

    Default Housing Costs



    I live in NE NC near the VA state line. The average rent out here is about 800 a month for a very bad area and about 2250 a month for one of the nicer places. I happened to luck out and a friend of mine is taking care of her mother who is very sick and they are renting me their house for 700 a month in a nice very nice area and if they decide that they want the house back after her mom passes then I can rent her mom's house for the same price. both houses are larger than my 1700 sq foot house now.

    In the town that my husband is from there is a house on the market for 150k it is a three bed room brick ranch with a full basement and 35 acres of land with it. I agree with who ever said it is location.
    Tina




  11. #11
    claycath59
    Guest

    Default Housing Costs


    You must live close to me Tina. i live in Virginia Beach, a few miles

    from the NC state line & the housing costs sound about the same. I know

    I couldn't afford to rent the house we own. Like I said before, our

    mortgage is $1000 & my house would rent for about $1800. That's for an

    average middle class house, 2 stories, 3 bedrooms, 2 1/2 baths,

    kitcen,living room, dining room, family room & 1 car garage (about

    1900sft.) A very young girl I work with, lives in a slum area of

    Norfolk & pays almost $700 for a tiny studio apartment in a very bad

    neighborhood. It's ridiculas! Now if our pay would go up as the cost of

    housing/living, then it wouldn't be so bad but it doesn't.

    Cathy

    www.cathyscreations.com





    > I live in NE NC near the VA state line. The average rent out here is

    about 800 a month for a very bad area and about 2250 a month for one of

    the nicer places. I happened to luck out and a friend of mine is

    taking care of her mother who is very sick and they are renting me

    their house for 700 a month in a nice very nice area and if they decide

    that they want the house back after her mom passes then I can rent her

    mom's house for the same price. both houses are larger than my 1700 sq

    foot house now.










  12. #12
    Mary Schroeder
    Guest

    Default Housing Costs


    WHere do you live in WI? My husband is from Pepin, which is a tourist

    city, VERY MUCH SO!!! The "rich and elite" people from Minneapolis

    flock to Pepin to buy up properties , thus raising the property value

    and cost sky high. It is GORGEOUS in Pepin, even making

    Fodor's "scenic ROute" books. My hubsnad and I would LOVE to move to

    Pepin to be close to his family, but we cannot afford it. We would

    have to buy a small house in a neighboring town or even in Buffalo

    co, vs Pepin. Then you have the HIGH taxes in WI. My inlaws own two

    homes in Pepin. They remodeled one in town and are trying to sell

    their custom built home because it has too much property . As well

    the home on the outskirts that they are selling, is what they plan on

    retiring on. My father in law has own his own construction business

    all his life, so he has always had to pay out of pocket for insurance

    and such. We would LOVE to buy the house they are selling as my

    husband grew up in that house. However the taxes on the $250K house

    would eat us alive. It would be approx $350.00 more a month JUST in

    taxes added to an already steep house note. So, we will just remain

    in our home in TN where we are debt free except for our small

    mortgage of $536.00 and add on. Paying for the addition after saving

    for the next 2 years, all our overflow cash and tax refunds. Since I

    became a sahm 5 years ago, and haveing 3 small children still at home

    (2 grown children have moved out and on their own) We hope that after

    we make the addition, and then put house up for sale, we can walk

    away with $150K cleared. Then borrow another $100 and build our dream

    home in WI. Or even neighboring MN (such as Wabasha )



    Mary



    --- In Budget101_@yahoogroups.com, Jaimie Hering <sosoft_2003@...>

    wrote:

    >

    > I read about all of your housing costs and have no idea how you all

    make it. I live in Wisconsin and our morgage is $232.00 a month, gas

    is approx. 100.00 a month and so is the electric.

    > I am a stay at home mom and my husband works at a glass plant. We

    live in a rural area just north of a tourist city.

    > There is no way we could afford to live elsewhere.

    >

    > Renting a home ( 2 bed. 1 bath) in this area is right around 350-

    400 with everything included.

    >

    > My neice lives in a city - Rockford, Ill. and pays over $1000.00

    a month for a one bedroom apartment plus everything else....and she

    just barely makes it. I have told her over and over...if you cant

    afford to live there, then there are places where you can live pretty

    cheap, just not in the city.

    >

    > And trust me, its hard to make it on one income even where we

    live! *smiles* I give you all credit because if we didnt have such

    cheap resources here then we would never make it, we live paycheck to

    paycheck most times.

    >

    >

    > ---------------------------------

    > Ahhh...imagining that irresistible "new car" smell?

    > Check out

    >










 

 

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