Wife and I bought a house at $445k in Arizona this past summer. We’re wanting to stay in it for 5-6 years and move into one of the many new builds in the area. I’m looking down the road at $700-$1m and trying to figure out how people own these houses. The house I’m in now already seems like it costs a lot for upkeep, bills, etc. can’t imagine the next house 😂

Obviously that next house price doesn’t NEED to be that much. But definitely a want with how much house you can get for that price in AZ

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

Most people who own homes in that price range make 250k - 350k, so double or triple your hhi in the next 5-6 years.

like

I own a house that I paid $700k for (not in AZ). To buy that house, I bought a condo for $180k that appreciated into $380k over 8 years (partially through sweat equity, partially through appreciation). From there, I took my $200k in equity and my principal paydown into the current $700k house. That house has also grown in the last few years, agin partially from sweat equity and partially from appreciation. Between appreciation, principal paydown, and salary growth, a $1.2m to $1.3m house is looking like the next jump for us. If you would have told 10-year-ago me that there was a pathway to buying a $1.3m house before the age of 40 that wasn’t the lottery, I would have thought you were speaking crazy talk. I’ve also ramped up my investments pretty aggressively, and have hit some net worth milestones that I thought weren’t possible under the age of 50.

Long story short - appreciation is real, salary growth starts to go crazy after 10 or so years of career experience, and investing extra money instead of spending to keep up with the joneses can take you places that you couldn’t imagine.

like

This was an awesome reply. Good to know it’s possible! Thank you and best of luck on your next house 😃

Household income?

Yeah our A/C is 20 years old so it needs to be replaced soon.

Life just gets so expensive (and inflation isn’t helping) it looks bleak! But I’m sure we’ll get there 😊

Am I the weird one for living in a $350k house with a HHI of $400k?

Very true. I live in Dallas where a decent $350k house doesn’t exist anymore. A starter home is now in the mid 400s.

like

Related Posts

Considering leaving US for Dubai or Singapore. How do the 2 compare in terms of salaries, savings potential, quality of life , etc..

like

Do you think metlaw’s legal plan (through employer) at $15 a month worth it? I’m planning to buy a property so thinking if I could use it there. Wondering if anyone has experience using them.

I have CSR and decided a few days ago to add freedom unlimited for day to day expenses, particularly groceries. Two cards is a big step for me, but the pairing seems easy and worth it.

But, after hanging out with you masterminds, I'm now aware that I should also take advantage of the CSP sign up bonus.

How do I get the CSP sign up points, add the freedom unlimited, and then get back to a CSR + freedom unlimited pair.

Also, I'm married. Wife is on my CSR, and that's the only card we have.

like

What is your investment portfolio allocation?

like

Best area to buy in Chicago? Planning on moving to the city and not super familiar with the area/neighborhoods. Would ideally like to spend ~300k but could theoretically spend more (up to 500k) if I need to for a decent place. Any help would be appreciated!

like

What's the point of saving for retirement? I'll be 80 years old when I can finally be able to tour Europe. I should just go now🤔

like

Are books really selling at the multiples people list on successionlink our these people just smoking crack? Saw one with 18 mill in assets 250k rev wanting 1,25 mill cash. What multiples are people

like

What are your favorite personal finance books? I just read Rich Habits and really liked it. I am also reading the Psychology of Money. Looking to read some more!

like

Hey all
I am writing a book about value creation in real estate (commercial). Chapters would include
-investing
-Acquisition
-Financing and underwriting
-development
-refurbishment
-leasing
-operating (tenant management)

Is anyone interested in being involved?

like

We are thinking of buying an investment property in the Lindbergh area (a luxury townhome rental) - can anyone provide perspective on the area, especially around general sentiment about it and safety?

like

I’m moving from NY to LA with my wife and baby. We are hoping to land in a furnished apartment and stay there just for a few months while we find our ideal spot to live (and to buy a home). Looking at Sherman Oaks/lower valley area or Pasadena/east-side. What’s our best bet for a short term condo rental. Airbnb? Zillow? Other?

Today marks the day I've officially paid down 80k in student debt. Feeling light, and feeling good.

likehelpfuluplifting

Hey All! For index funds, make more sense to only do a total stock market like VTSAX or do a few different like one for small cap medium large. Assume expense ratios across all of those are the same. Thanks!!

like

a very specific question to all Canadians.

Current situation , i need to refund signing bonus which was paid along with 3 days of work at the company, taxes are withheld obviously
When you refund a signing bonus do you
1- refund ALL of it even taxes Withheld ?
2- refund only the amount that was deposited in your account
3- mix between 1 and 2 refund more than was deposited but less than the whole amount ( taxes should be refunded to me next year)

My contract says 2 and they want to do 3 Help

like

Mortgage rates already crossed 5% but the home prices not showing any signs of cooling down!! Any historical indicators where we may be headed 🤔

likefunny

Get upto 100% of your TDS as Refund in your desired bank account .
Due date for filing (ITR returns) for the AY 2021-2022 which reflects your transactions during April 2020 -March 2021, is on 31/12/2021.
File now to get rid of penalty for delay returns
Here we will e-file your IT returns
▪️▪️▪️▪️▪️▪️▪️▪️
Are you new to ITR filing???.... no Worries join and get our help to clear your queries

📲 8985907244

like

First time investor in the US. Any suggestions on books / blogs to read to get smart. Where do people typically invest given all the client related policies in place for consulting firms?

Any crypto vcs in here. I am curious how to get involved

like

How is everyone doing their crypto taxes? Koinly, doing it manually etc.? I have >200 transactions and >$150 of capital gains, so it’s hard to stomach paying $50+ for a crypto tax tool like Koinly.

like

Hi guys. Quite tensed regarding the tax that I would need to pay for my salary. So I have posted my offered compensation by IBM .
So my taxable income is: 16,50,000(Income) - Standard Deduction(50,000) - 80C Deductions(1,50,000) - Interest on Edu Loan(48,500) - Professional tax(2400)
= 13,99,100.
So anyone who is familiar with this tax deduction, can u plz tell me how much tax I would need to pay per month?
Any valuable input would be of immense help.

Post Photo
likefunny

More Posts

Hi fishes,

I have 3+ years of experience as SAP SD consultant. I am looking for a job change, please help me if any openings for this position.

Any tips on moving from litigation to transactional? I’ve seen everything I needed to see with litigation lol

likefunny

Why do we always tell people “Be the best version of yourself before starting a relationship?”
I feel this is wrong…first, if you’re someone who constantly wants to be better, this doesn’t work. Also, what happens when you’re going through things and you’re not the best version? What happens is…the going gets tough and then one person leaves the other.

like

Hi fishes, I am going to join SOX governance profile in AMEX at band 30. How's this profile and the perspective of learning as I'm a CA currently working in one of the big 4 in audit & assurance department?
My joining date of very near if somebody please help me out to make my final decision?

I really appreciate your help😊

like

Advice on finding a short term lease in the city?

As a consultant, have any of you ever had to do work for your side gig while on-site with your main job’s client? How did you manage that? Especially if you need to be on your personal computer for it

like

Anyone here work for CVS in the past as a pharmacist? Wondering about your experience as a black pharmacist as I heard some pretty bad things about the culture in their pharmacies

like

I need some advice. My parents are being very nonchalant about about my wedding next year and my engagement. They weren’t really excited when I told them. I asked a few times why , and it’s usually a lot of negativity (you shouldn’t have a big wedding , don’t spend a lot of money, you’re wedding is a year and months from now i am not thinking about it, just go to Vegas that’s where we did it) I am not sure what’s going on. Should i be concerned ? Has anyone else experienced this?

like

Monday Wordle 380 4/6

⬛🟩⬛🟨⬛
🟨🟩⬛⬛⬛
🟩🟩⬛🟩🟩
🟩🟩🟩🟩🟩

like

Sensitivity analysis: Guys do you have any tips on doing sensitivity analysis for an xls with different tabs for inputs, cals, and outputs? I need to calibrate net income for 8 revenue scenarios based on flexes on two inputs (one is a flat rate OPEX unit and the other one is forward oil curve). Data tables won’t work coz I have 8 cases each of which needs its own cals and output tabs. Appreciate help! 🥺 inherited this model so noone to ask! 😅

likehelpful

Anyone working in Devops here?

like

This is what 1 serving (32g) of honey cinnamon almonds looks like. Depressing AF.

Post Photo
like

Merry Christmas folks

Post Photo
likefunny

Anyone have insight into corporate strategy roles at MBB and willing to share more? Office of the CEO/Managing Partner

like

Anyone here work in PMM that would be open to me asking a few questions? Trying to plan what my next steps should be and I'd love to get some feedback.

like

Been mentoring a lower income high school student the past couple years and they are heading to college this fall without a lot of parental or financial support but they work very hard and Was hoping to give them a short book or two to try to help them understand investing. Any recommendations?

like

does anyone have any leads on Rpa Business analyst consulting positions?

anyone work at Biogen?

like

Technical folks in Consulting? How does it work for you ? I was expected to work on bids but also code. Is this the norm as a technical specialist in Consulting?

like

Additional Posts in The Real Estate Bowl

Are there really properties that allow airbnb or people just don’t abide by the role. Was looking for a property specifically for airbnb, it’s a SFH with a yearly HOA but I however have a friend who has a home there from which she has been running successful airbnbs for close to two years. Thoughts?

like

What's everyone's lenders mortgage recasting policy ? My lender ( provident) said it's only once during the lifetime of the loan. I had heard from.my broker ( who presumably has experience with a host of lenders) that lenders typically allow once a year.

like

How can I buy a home with no monies? 🥲

like

What could be the pros and cons of buying a house in a smaller community with no amenities? The community has 14 houses, no amenities but in a good location?

like

Do you think metlaw’s legal plan (through employer) at $15 a month worth it? I’m planning to buy a property so thinking if I could use it there. Wondering if anyone has experience using them.

Hey all
I am writing a book about value creation in real estate (commercial). Chapters would include
-investing
-Acquisition
-Financing and underwriting
-development
-refurbishment
-leasing
-operating (tenant management)

Is anyone interested in being involved?

like

This is for my real estate agents. I’m brand new into the business and I adore the work. What tips or pointers can you give to a new agent- I’m in Las Vegas if it helps to be specific. If anyone has any book recommendations that’d be awesome as well. I’m looking to learn anything and everything. For example, learning what I can and can’t do to make a deal close

like

Do rental properties need to be entered into independence?

like

I want to have the PMI removed from my mortgage with Wells Fargo. I have 25-40% equity at the moment according to a few real estate site estimates and Wells Fargo’s estimate. Does anyone know if appraisers are still doing street-view appraisals vs going through the home?

like

And advice on buying a multi-family property? Also, if you own them, how much income does your generate each month less admin/upkeep/incidentals?

like

My original plan is to buy my own place after my lease is up in March. I was going to start looking in more detail in Q4. However the rates are so low now. With summer quantity of listings vs winter I’m also a little more tempted to look. To break my lease I have to pay 2 months rent and give 60 days notice. Current rent is 2808. Should I cut the cord sooner than later? Will the low rates still be there in March?

like

Planning on moving outside of Denver (Aurora, Parker, Castle Rock, Littleton, those types of areas). I know the market is highly competitive, but will it be impossible to find a house? 800 or less, 4 bed, 3,200+ sq ft, good public schools.

like

Folks- Is it worth buying a home listed by owner(FSBO)?I like the location in NJ (Flemington) but it’s my first experience and need help to know relevant questions.Any links or pointers to a successful home buying?Thanks for your help.

like

Has anyone sold a house to an ibuyer (e.g RedfinNow, opendoor, etc)? Which one.and how did it go for you? Did you get your money's worth? Was it a quick transaction and how long did it take? Would you recommend or not?

like

Any thoughts on how to take advantage of the hot RE market as a homeowner? Basically I’m interested in selling my home as current home price appreciation is great. I can afford a bigger home as my income level has significantly increased. My thoughts are that outside of interest rates, it turns into a wash where I get top dollar for current home but have to pay top dollar for new home. For added context, my interest rates are currently rock bottom so couldn’t find an angle interest wise.

like

Thinking about getting a 2.5k sqft home in the city (LCOL/MCOL). Mortgage (w/insurance, taxes and all that) would be $3.2k/mo at a 6.88% rate. We are currently at $150k TC DINK. Is this realistic?

Anyone use turbotenant for their leases? Have you had to attach addendums? I started the process and saw they didn't have a buy-out clause in there, so wondering if that's something I could ass myself. Also open to any other suggestions or things I should consider/add

like