Currently making ~500k TC. Is 8.3k too much for housing payment (mortgage, interest, maintenance, taxes)?

like
Posting as :
works at
You are currently posting as works at

You list only your comp, then ask randos something that’s impossible to answer because no one knows your lifestyle costs, or even what your comp consists of (how much is liquid, is it all stocks, etc) ….

Is this the new weekly flex post? lol

like

It is.

like

What do you think?

likefunny

If you have trouble with that, you need to check your other expenses

likefunny

Kinda stingy if you ask me! 10x that

funnylike

It’s more than I’d choose to do but it’s not like you can’t afford it if you want to. Do the math

like

Are you single? If so, I would recommend not spending more than $5 a month. 500k after taxes and deductions is only like $250k if you're single. No need to spend 40% of your income on housing. Save up and buy.

Sorry...you did buy. In this case, it's not too bad. But think about what you need and how you want to live in retirement. If you can reduce your monthly payment by 3k, you could easily invest that and retire a few years earlier to possibly a decade or more depending on your current age.

like

this is about a purchase

like

Only 500k? You belong with the Poors.

like

Depends how smooth / reliable your income is

like

Thanks for giving us all hope that we can make that income one day

funny

What are your other monthly expenses? We don't know if 500k is all cash or tied up in RSU's, etc. Need more context.

Thanks everyone. Maybe I'm overthinking. It just feels wrong to me to be on the hook for that amount of money each month just for housing, but I also might not have fully adjusted to the reality of NY real estate yet. What are you guys spending each month?

7.5k a month on housing (we own). HHI about 800

likehelpful

Depends on your other expenses. Do you have a family, kids in private school? If so, yea that’s probably too much. Maybe not quite with todays interest rates, but 8.3/ month should get you a place around $2.5m - for a single person that’s quite a nice pad, even in NYC. But its possible that in even this is a stretch in Manhattan where property and HoA costs almost as much as the mortgage. Especially in newer buildings. Pre-war buildings typically have lower fees. Brooklyn also - lower taxes and fees

Is TC including benefits? I would say what is your base comp plus realistic bonuses, minus your taxes vs going in large/not considering your actual take home. You may be able to afford it but what the impact to your lifestyle and savings?

If you're asking what you can afford, you should be considering all of your expenses, not just those

If you're talking about the asking price of one interesting property vs another and whether the properties are comparable, that's a different question

Related Posts

Do you have a responsibility to be tested if you have a known exposure to COVID?

like

Anyone else patiently waiting for the 4Runner to get the same makeover as the Sequoia/Tundra? I know most owners are purists blah blah but a 4Runner with 22+ MPG and 350+ HP 🤤

like

Has anyone dealt with parents that never listens to what you actually need? All I need is support and empathy, but they always hand me oranges when I ask (specifically for apples). They think they are doing their best to care for me. But when I explain that I’m not happy at work and all they do is shame me for not being strong or smart enough for it. They ignore me when I keep coming out to them as gay (had to do it multiple times), and still keeping asking me to get a bf. I’m so bottled and mad

like

Anyone work at Meta? How is the culture in the legal department? Is it cut throat and competitive or collaborative and inclusive? Considering some opportunities there

likehelpful

If we take 2 hours lunch in any day and finished our day with 9 hours does IT knows machine about it?
Can we compensate that time that day/ other by sitting 10 hours ?

Just put my 2 weeks in 😃

likeupliftingfunny

Hi! I’m interviewing for the Associate Consultant position under Value & Access Strategy consulting practice in the Health Care sector. Does anyone have any tips or advice for the case interviews or would you be able to connect me with any folks that are currently in the position? Really appreciate any help!

Looking for account opportunities in the NYC area. Message me if you have any leads!

like

As a recent SWE bootcamp graduate is it risky to try and negotiate yoyr first offer? What are the chances of it getting rescinded asking for ~$5k more? There is already a sign on bonus included $4k.

To get your CV shortlisted in FAANG, Is One column resume format the recommended way?? heard somewhere that the resume parsing engines gets confused while reading 2 column resume. Appreciate your inputs on this.

likefunny

Made chicken, shrimp, and sausage gumbo for lunch. Recipe in the comment.

Post Photo
likeuplifting

By far, the best thing I ever did to better my diet and overall well-being was purchase a Vitamix. It has changed my life completely.

like

Anyone here to the Georgia tech online masters in analytics degree, I just had some questions….

like

Does anyone have any experience of the Google recruitment process, particularly Strategy and Ops? Any advice on what to do/ what not to do would be much appreciated.

like

Waiting to hear back after final round interviews this week...not gonna be able to get anything done 😩

like

I’m frozen. I have 2 job offers. I’m returning to work after a year off with baby. The offers are diametrically different and I don’t know want I want or what to think.
Can you help me prioritise? What are your experiences and what do you wish you had thought about? Info in comment

like

Anyone have insight on the PDM Town Hall yesterday?

like

I have an offer from Accenture with fixed CTC of 7.25 lpa and variable 0-21%, Current CTC in TCS is 3.85lpa after 2.1 years of experience.Should I join Accenture?What about Job Security and Ethics in Accenture as compared to TCS?

like

Went to the park with the pup and she squealed so happily as she was chasing after a ball. Memories like this melt my heart 🥰 here she is posing (aka making sure mum can’t grab the ball and throw it again) 😂

Post Photo
like

How much time does it take for wipro to release offer letter?

like

Additional Posts in New York City

Hi, I will be relocating from Amsterdam to NY and I am trying to figure out my bi-weekly net pay. I tried many calculators on google but they all give me different outcomes. Which one is accurate?

like

Do you think it’s safe to move mid April given the increasing restrictions because of the coronavirus?

like

Anyone here have zero bond membership? If yes, do you enjoy it as much for all that $$.

like

How much do pay for utilities on average? Does anyone here pay for water / sewer?

like

How much time do you spend alone during the weekends ? I usually don’t like being alone, so I try to plan something with my friends and feel sad if I don’t have any plans. It could be just going to the park but I highly depend on company of other people. With spring around the corner, I feel the pressure to make friends/ start dating so that I can do something. Am I weird ?

like

Moved back to the city post-COVID. My friends have become hermits and don’t really want to do anything. I’m the opposite - after being stuck inside for two years looking to meet new friends and experience new things. Just feel like I don’t know ppl to do it with. Any ideas on ways to cultivate a social life here without friends who are excited to do so as well?

like

How much does a nanny in NYC cost per month?

like

Has anyone gotten either their first or second vax dose in another state or location? I’m visiting nyc for 3 weeks, and I’m debating if I should get my first dose at home in Arizona and then my second in nyc. Or just wait until I get back

like

Good first date spots in East Village? Tips on how to make it a good date?

like

Anyone know if there are any clothes donation spots in or near Williamsburg?

like

Anyone recommend any volleyball leagues / social sports in and around UES?

like

Does anyone want a ticket to the Mets/Phillies game

like

Where can I donate clothes in Hell’s Kitchen/ Hudson yards here?

like

Any brokers / brokerages folks have worked with that charge only 1 months rent vs 2 months rent? Looking for an updated 1BR for $4000-$4500 in UES. The selection on StreetEasy isn’t that expansive, but I don’t really want to pay 2 months rent to find a place

like

In your opinion, where is the safest (but still exciting) place for a female living alone in Manhattan?

like

Anyone know of any good storage units that will provide boxes and pick up/drop off your stuff in Nyc?

like

Bullish or bearish for job postings early 2023?

like

Does anyone struggle with seasonal allergies from pollen in NYC? If so, what are some ways you guys are helping your allergies??

like

Is anyone into house music and would like to hit bars / music venues that play house? My friends are amazing but are more of the top 40 remixes in a Chelsea / LES bar type of crowd 😒

like

Has anyone used movers while you were physically away? I can’t get back to the city before my lease is up 1/31 so thinking of options

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal