{ "media_type": "text", "post_content": "What was your salary when you bought your first house and how much did you spend? Trying to determine if my significant other and I are stretching", "post_id": "60ff0955657322001c0167fe", "reply_count": 7, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

What was your salary when you bought your first house and how much did you spend? Trying to determine if my significant other and I are stretching

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

It’s really dependent on combined income vs. property value you are targeting. You are being way too generic at the moment for any insightful responses.

like

100k income, 375k house

like

$115k, $185k, closed earlier this month

like

Depending on how long you plan to stay (i.e. not a flip to turn a quick buck). I'd recommend not having your mortgage payment (tax and ins included) be more than 25% of your net (after tax) combined income. This will allow you more flexibility in savings, cars, home improvements, vacations, whatever. This prob seems low to a lot of people but has worked well for our family.

We were 30 year olds making 250 combined. We built a house and spent 425k. 15 years later the house is paid off and our combined income is close to 600k. We have spent over 100k in additions over the years - finished basement, covered deck / patio, added a bathroom, etc. We now have 5 full baths 😁. We live in a low cost Midwest city and are very glad we didn’t get caught up with our friends and peers who have since upgraded into million $ homes. I don’t work to pay my mortgage anymore and that feeling of freedom has made me even more successful at work because I can take risks and don’t feel encumbered by a job.

The general rule is no more than 30% of household income. But don’t just calculate the mortgage payment. Make sure you include insurance and taxes for the total monthly payment. Up to you if you want to keep the payment below 30% so you leave room for improvement and maintenance costs in that percentage or if you’ll budget for that outside of the 30%.

Update: Combined income 180k, both 25, Charlotte NC, looking at 500k range

Related Posts

Hi all. Any insight on Monitor Deloitte SC salary bands? TIA!

like

New AWMA... curious to know what a reasonable salary expectation is and what the growth looks like for an associate within a growing ensemble. For context, background is more analytical, taking CAIA level 2 in a couple weeks, then plan on pursuing CFA.

like

I’m applying for roles as a software development manager in NYC and both tech and finance companies. I have 15 years experience in tech. Not from the US and only moved here last year. Does anyone know the ballpark salary range?

like

PWC folks, what is an expected salary for a senior associate in a tier 1 city? Looking to negotiate my offer.

like

Has anyone interviewed for or joined Squarespace recently? Looking for insight into their final round interviews, what they look for, etc. Would also love to hear input on comp & offers made. Any thoughts are appreciated!

like

Perspectives on Managing Director (newly promoted) base and variable comp across big 4 and equivalent firms looks like these days?

like

Planning to jump off the Big 4 ship for better WLB while with hopes for better compensation. Which one is better for customer facing cyber roles between AWS and Microsoft ?

like

Are compensation hikes and bonus payouts information available for Accenture Strategy and Consulting? I heard from couple of folks that rewards communicator have got information and would be releasing it now

likesmart

Anyone else with their eye on the door trying to stall on offers until getting their bonus/raise in September?

like

So i have sent an email stating the counter offer for Cognizant. For salary revision Havent heard anything from hr? Anyone having experience on this?

like

Just negotiated a 35% salary bump and promo for my new job!!! Used to be too afraid to negotiate. Just sharing my news to motivate someone else and bc I’m just dang excited! 😬😩🤪

likeupliftingsmarthelpful

Outside of SWE, which roles at FAANG would surpass MBB comp?

like

Should I join Accenture or Deloitte? Heard Accenture beat Deloitte in revenue. Are the Deloitte fishes still laughing? Comp does not matter to me I only care which firm makes more revenue and how many fish will laugh at me.

funnylikesmart

What’s the comp for KPMG manager (MBA) in the strategy/M&A execution group?

like

Anyone signing for equinox soon? Will split referral bonus with you 50/50 and helo you negotiate a gift card and waiving initiation fee.

like

Sooo... Living a fine life. Make good salary, have a nice apartment and stuff. Somehow, I mean, being by now a mid thirty female I feel like I have failed (at least regarding this point, don't know how to proceed? (I mean, I am a 34yr old, successful person, but even though I managed having good relationships until I turned 30, by now I just seriously feel old.) Colleagues have either met their match years ago or are incompetent of relationships

likehelpful

Tax at KPMG or Deloitte? Culture and Compensation differences?

like

Can any at will employer adjust your salary unilaterally like we’ve seen done at several firms this year? Asking because I’m looking at some job offers and not sure how to assess the likelihood of a salary cut especially if the firm has done it before? First instinct is that they won’t lower it soon just because they’d look terrible right? But legally they could?

like

Poll cause I'm curious.... Which company has the highest bonus for getting the CISSP?

like

I recently moved to Sweden to work as a consultant. But I'm facing problems with all documents issuing processes, that take too long, and without all the documents I can't open a bank account to receive my salary. I'm starting to freak out about this. It seems it's a common situation for foreigners but most consultant companies don't do much for help us - I know some people that only received their salaries after 3 months. As I'm too stressed about it, I can't sleep well and focus at work...

likesmart

Additional Posts

With this all AI and automation what group you think is good for job security and exit opportunities? Core Business tax, international tax or expat tax? Planning to stay until Senior 2 or M1 thanks

like

What is a competitive compensation according to the market after 3 years of consulting experience out of undergrad? Glassdoor suggests $92K as a market average. I am in tech consulting mostly working on the vendor selection, system and processes assessments, and ERP implementation within FS. I know that comp for pwc A3-SA1 tier 2 geo is 86-95. What about other firms?

like

How much should I ask for salary wise for a Sr. Offer? Is 115-120 reasonable?

like

Hello has anyone interviewed for Linkedin BizOps team or Uber Ops and Logistics Manager? Would appreciate tips! Also how do you guys typically prepare for interviews with small series B startups?

like

I think I bombed my Facebook interview 😭😭😭

like

Fellow consultants flying Delta, as that annoying hi ho commercial says: "The ones who truly change the world are the ones that can't wait to get out in it"

like

Has anybody made the switch from Big 4 consulting to MBB? What was the interview process like, and how did you prepare?

likeuplifting

Have work to do but am really tired. How many points does my body owe me?

like

Does anyone know any agencies (or even client side) hiring a seasoned Sr Program Director or PMO lead? Preferably Chicago, but open to other cities for the right job.

Curious to know what associate/consultant level compensation is in MBB or Big 4 in 2 locations: Tokyo vs Singapore

like

Anybody know what is post-MBA salary at MBB in Bangkok or Jakarta?

like

Anyone here six sigma or considered it?

like

Do you always log on to Skype? I hardly ever do, only for calls. should I be logging in?

like

I have worked in the HR space for the past 9 years, however most of my experience has been in Talent Acquisition. I do want to move into a People Operations/Generalist role. I’m planning to go for a HR certificate but unsure if I should go for a PHR or SHRM. Please advise!

like

Hey ladies! If you’re a technology consultant right now at Accenture how much do you make? I’m having an interview soon and want to know what to ask for. Thanks!

like

Is southwest worth considering to travel in comparison with delta or united?

like

Thoughts on combining SPG Amex with a Chase Sapphire Reserve?

like

In the interview process for 2 companies. Having a really hard time staying motivated in my current job. I’m feeling so impatient. And want to exit so bad. How do I handle this?

like

Can we finally agree that indoor office open floor layouts suck and are over rated now? And they should be changed because of COVID. I never want to have them back when returning to office because could never focus and do my work with the buzz around me. It was also a random invitation for co-workers to talk to me whenever they wanted at my desk, which was annoying lol

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
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

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal