ttanmadaka Posted July 10 Report Share Posted July 10 I'm working in USA, Naa Salary Base + Stocks anni kalipi: $280000. My wife Salary: $80000 We are planning to buy $1.1M house in Seattle. First time home buyer ni, chaala bhayam ga undi, need house for my wife, and kids. I don't know if I can afford. Others please comment. Quote Link to comment Share on other sites More sharing options...
rISK_CONt Posted July 10 Report Share Posted July 10 Dude I stay in Seattle and earn half your salary and pay 4300/- mortgage monthly. With your family monthly earnings you should be good. Don't think much move ahead and opt for single family homes. Let me know if need help with Real estate agent/Mortgage broker, I know desis to help you. Quote Link to comment Share on other sites More sharing options...
jpismahatma Posted July 10 Report Share Posted July 10 If scared don’t buy. 1 1 Quote Link to comment Share on other sites More sharing options...
hydusguy Posted July 10 Report Share Posted July 10 3 hours ago, ttanmadaka said: I'm working in USA, Naa Salary Base + Stocks anni kalipi: $280000. My wife Salary: $80000 We are planning to buy $1.1M house in Seattle. First time home buyer ni, chaala bhayam ga undi, need house for my wife, and kids. I don't know if I can afford. Others please comment. how much savings u will have after 20% down payment?.. 1 year emergency fund? just if you loose your job. are you confident u can get similar salary? Quote Link to comment Share on other sites More sharing options...
Konebhar6 Posted July 10 Report Share Posted July 10 3 hours ago, ttanmadaka said: I'm working in USA, Naa Salary Base + Stocks anni kalipi: $280000. My wife Salary: $80000 We are planning to buy $1.1M house in Seattle. First time home buyer ni, chaala bhayam ga undi, need house for my wife, and kids. I don't know if I can afford. Others please comment. You should be able to afford easily. Also with rate cuts around the horizon, you can refinance later to reduce monthly payments. 1 Quote Link to comment Share on other sites More sharing options...
chammakchandra Posted July 10 Report Share Posted July 10 3 hours ago, ttanmadaka said: I'm working in USA, Naa Salary Base + Stocks anni kalipi: $280000. My wife Salary: $80000 We are planning to buy $1.1M house in Seattle. First time home buyer ni, chaala bhayam ga undi, need house for my wife, and kids. I don't know if I can afford. Others please comment. Evaluators won’t pay ur mortgage when u loose job and broke! Go with how comfortable you are paying monthly payment! Good luck! Especially if u r on visa.. high risk Quote Link to comment Share on other sites More sharing options...
enigmatic Posted July 10 Report Share Posted July 10 you are good. try to make a larger downpayment so you can to bring down the emi. 1 Quote Link to comment Share on other sites More sharing options...
Joker_007 Posted July 10 Report Share Posted July 10 8 hours ago, ttanmadaka said: I'm working in USA, Naa Salary Base + Stocks anni kalipi: $280000. My wife Salary: $80000 We are planning to buy $1.1M house in Seattle. First time home buyer ni, chaala bhayam ga undi, need house for my wife, and kids. I don't know if I can afford. Others please comment. Home Affordability Check: Now, considering the home you want to buy is valued at $1.1 million, you'll typically need a substantial down payment and the ability to comfortably manage mortgage payments along with your other expenses. Mortgage Considerations: Down Payment: Typically, a down payment of 20% is recommended to avoid additional costs like Private Mortgage Insurance (PMI). For a $1.1 million home, this would be $220,000. Monthly Mortgage Payments: Depending on the interest rate and loan term, your monthly payments could range from $4,000 to $6,000 or more. Given your total household income and assuming moderate expenses for Seattle, WA, here’s a rough calculation: Calculate Monthly Expenses: Housing: EMI , property taxes, insurance. Utilities: Electricity, heating, water, garbage, internet. Transportation: Car payments, gas, insurance, public transport. Groceries and Dining Out: Food expenses for the household. Healthcare: Insurance premiums, out-of-pocket costs. Miscellaneous: Entertainment, clothing, personal care, etc. So, total monthly expenses could be around 12,000 to 15, 000 roughly. Worst Case scenario I Generally recommend having an emergency fund that covers 3 to 6 months of living expenses in case both of you lose jobs. Emergency Fund Calculation: Based on your income and expenses, you should aim to have an emergency fund between $15,000 to $48,000. For 3 months: $12,000 (low end) x 3 = $36,000 For 6 months: $15,000 (high end) x 6 = $90,000 If your parents are above 68 years then add 5k minimum for the emergency fund. Before proceeding with buying the home: Ensure you have the necessary down payment. Build up your emergency savings to cover at least 3 to 6 months of expenses. Factor in all expenses including mortgage payments, property taxes, and insurance. Quote Link to comment Share on other sites More sharing options...
gudboy Posted July 10 Report Share Posted July 10 jeevitham 400K annual salary vallu kuda bayapaduthunnara to buy house Quote Link to comment Share on other sites More sharing options...
quickgun_murugun Posted July 10 Report Share Posted July 10 8 hours ago, ttanmadaka said: I'm working in USA, Naa Salary Base + Stocks anni kalipi: $280000. My wife Salary: $80000 We are planning to buy $1.1M house in Seattle. First time home buyer ni, chaala bhayam ga undi, need house for my wife, and kids. I don't know if I can afford. Others please comment. People are living happily with half your salary around $160k. Your household income is very good. Buy in a decent neighborhood with good schools. Don’t be scared! 1 Quote Link to comment Share on other sites More sharing options...
sarfaroshi2 Posted July 10 Report Share Posted July 10 Podduna podunney…migitha valani depression ki pampinche pani petkunava bro… Aa salary tho ithe @Sonu_Patel kuda encourage chestadu. Quote Link to comment Share on other sites More sharing options...
GelakoduKri Posted July 10 Report Share Posted July 10 9 hours ago, ttanmadaka said: I'm working in USA, Naa Salary Base + Stocks anni kalipi: $280000. My wife Salary: $80000 We are planning to buy $1.1M house in Seattle. First time home buyer ni, chaala bhayam ga undi, need house for my wife, and kids. I don't know if I can afford. Others please comment. My salary is $540000 but I stay in a consultancy guest house with 14 years experience, Planning to move into a shared room . Any comments ? 1 Quote Link to comment Share on other sites More sharing options...
Tellugodu Posted July 10 Report Share Posted July 10 30 minutes ago, gudboy said: jeevitham 400K annual salary vallu kuda bayapaduthunnara to buy house That 400k annual pay can literally become “0” pay in a day. Especially in Tech companies. no job security whatsoever. Worst thing is managers are no being trained to “manage people out” to avoid paying severance/bad publicity of layoffs. Quote Link to comment Share on other sites More sharing options...
gudboy Posted July 10 Report Share Posted July 10 16 minutes ago, GelakoduKri said: My salary is $540000 but I stay in a consultancy guest house with 14 years experience, Planning to move into a shared room . Any comments ? human trafficking ani case vey nee employer meeda 3 years lo GC vasthadi neeku Quote Link to comment Share on other sites More sharing options...
gudboy Posted July 10 Report Share Posted July 10 1 minute ago, Tellugodu said: That 400k annual pay can literally become “0” pay in a day. Especially in Tech companies. no job security whatsoever. Worst thing is managers are no being trained to “manage people out” to avoid paying severance/bad publicity of layoffs. true 400K salary ante overnight he did not come to that number kada.. if they are making 400K means they will have significant savings for emergency and downpayment etc. Ala job pothundi ani bayapadithe no one can buy home and antha bayam unte he can buy home which he can afford with one of their single salary 1 Quote Link to comment Share on other sites More sharing options...
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