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Dolla dolla billz yo
Negotiating with EY for M/SM Tech Consulting. I have 15 years experience, skills are in demand and my interviews went extremely well. 1. What are the salary ranges for M and SM in NYC. 2. I am told it is only going to be a M now, for my own benefit-no EY network means failure at selling. Whats the highest salary I can negotiate at M. Any other tips will be handy. I have "sold" (support on sales & new roles through relationships) plus I have solid delivery experience. I really want SM 😀😀😀 EY
What are Fdd Director salaries at KPMG?
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It’s quite a bit, but it’s your own house and will totally be worth it. Just make sure it’s the home that you like enough 😉
Think it’s a stretch but doable. Hard to predict but my guess is that if you wait, you HHI, cash will increase, your mortgage rate will drop, but prices will increase. Not sure you will be in a better place. I was in a somewhat similar position and I bought now. Main difference, I had more cash on hand and lowered my loan as much as possible.
One other difference I guess is that I already have 2 kids and likely not having more so have a better sense for costs associated with kids.
In a similar boat (~400k HHI), with a bit more cash on hand (500k including emergency fund, not including retirement). Going to have kids in 4-5 years (we are 27 and 28).
We are thinking a 600-750k max, with the understanding we will probably upgrade in ~10-15 years. That will get us a higher end starter home in our area (NJ), but not a forever home.
Yup and yup. College sweethearts who never felt the urge to live in NYC since our jobs were in NJ. Got lucky on all counts (most of all meeting her in a frat house at 19 lol 😊)
I think it’s pushing it but depends on if you have any other debt. 350k is basically 30k a month and 7.5k is 25% of that when the recommended total for debt to gross income is 28 to 36. If you take home 60% after all taxes then this eats up about half of that. Can’t imagine anything else is cheap in that area either so if either of you lose a job you’ll be burning through cash quick. Upside is you might get raises (in a few years) and could refinance.
TL;DR: It’s not ridiculously outside your budget by the metrics but I wouldn’t feel at ease enough to do it
AP1 - asking the right questions, and tryna stop this bankruptcy before it starts
What’s your childcare or schooling cost? If nothing, sure. If substantial, don’t do it.
Don’t bank on parents. Budget it in and be thankful if you free it up later.
Do you anticipate future HHI growth? Without kids you can definitely afford, but I wouldn’t really consider having kids until your HHI grows
Also to add to this the 20% down is pretty much all we have saved besides an emergency fund. We’ll likely wait another year to bolster savings before we buy but curious what others would recommend having aside from the downpayment
Ideally, the payment would go down quite a bit next year given interest will likely go down, so your leftover $$ will be better
Don’t forget to factor in repairs and maintenance. The rule of thumb is 1% of the home cost per year, which would add another $900 a month.
Yes you can make it work.
Not too much. Bought $1.05M (20% down) at $320k HHI. Don’t feel house poor at all. No kids.
All good. We’re 5.69%. 6 months into a 3 year fixed. Hoping a renewal will drop our payment by $1k if rates are in the 4% range.
Don’t count on bonuses for figuring out how much mortgage you can get. That can really get you into trouble. If your HHI is mostly base you should be fine
Don’t buy your way into an expensive home. You’ll be house poor. Appreciate your way into an expensive home buy building equity in more affordable homes. Roll the appreciation from one home into the down payment of the next home and keep repeating so you can keep the mortgage reasonable.
I think it’s too much. If you’re moving to an hour outside NYC, you shouldn’t need $1M to buy a house. If it’s in NJ you’re also going to get hit with the mansion tax too which needs to be paid up front. Also sounds like you won’t be able to afford the house if you lose your job?
I have 3 months emergency fund. Not in NJ looking in the CT / NY area
How many sq ft? Could be a lot of house for a couple not planning kids for 5+ years? Why stretch at this stage?
Kids may come sooner, not sure. Figured we’d get the big expense of getting the house out of the way and get comfortable with our budget first before we can start trying to