If you make $12 an hour, you can afford a $110,000 house.
12/hour = $1400 a month
Mortgage rate + insurance for 110k house = $600 a month
You still have 800 dollars left over for food, utility bills, gas, etc.
Rentcucks HATE this, but it's the truth. Stop being a rentcuck.
In australia the average house is 700 grand
Housing will go waaaaay down tho. I'm just buying more LOKI because privacy is always the key to more wealth.
Creditors won't let you buy a house with that low of an income. You can't even afford to fix something if it breaks. Also, what about property tax, utilities, association fees, insurance, maintenance, list goes on.
>what is income tax
You're forgetting taxes and that fact that it's near impossible to find a livable house for that price anywhere in the US
This was one of the weirdest things I saw when I came to visit Australia.. Even the most remote places have insane prices that would fetch you a nice house over here. Your country is a straight-up money laundry machine for rich chinks or some shit.
average property tax rate = 1.08% = $100 a month
Maintenance costs = 1% of home's value per year / 12 months = $100 a month
SO even after these costs you still have $600 left over each month.
ok jew
Your're also forgetting PMI if you're not putting down 20% and good luck saving that up quickly on $12/hour
PMI is already included in the original calculation.
>a $110,000 house
so... a cuck shed in somebody else's back yard?
Good fucking luck finding a house for 100k you fucking moron
You realize PMI is separate from home owners insurance right?
>INVEST EVERYTHING INTO A LIQUID ASSET THAT DEPRECATES IN VALUE AND REQUIRES MAINTENANCE
>B-B-BUT THE LAND WILL GO UP IN VALUE
Boomers are dying in record numbers. A house is a stone that will drown you. I'd rather take x10 less capital in pure liquidity tax free any day.
there are plenty of 100k houses
yes
>if you make 12 an hour you can shackle yourself to a shitty house and wageslave for 30 years so me shecklestein can buy his yacht
Those $100k houses are either right next to a mini-Chicago, have back taxes and liens that aren't included in the list price, are falling down shitholes, or are so far from civilization that it's not worth the commute
Its more than that. I bought a house for 118k. Put 5% down. Had them pay 3500 in closing costs. They insure your house at a ridiculous rate. You have to have insurance high enough to rebuild your house. So my house is insured for like 350k. It costs around 300 a month. + 500 p&i + 100 in property taxes + like 30 a month in mortgage insurance. My payment is $927. It is a 2500sqft house though. I originally was making $18/hr when I bought it. And now I make $30. So I'm doing good.
I've seen some homes that are less than half million which is ok by my book. I'm planning to make my aussie partner come here in the UK and earn double the AUD and hopefully move back to us. If not, just buy a comfy home in the Scottish highlands or Cornwall for like £150k
Stop looking for houses in cities you retard.
>me shecklestein
The jew is among us!
Where I live, I bought a 750 sqft condo box for 400k. Every time a pay my mortgage I can feel my sanity slip just a bit more.
Shut up shut up shut UP
based and housepilled
Why don’t you just get out of it?
>a $110,000 house.
hi grandad
Good. Your continent belongs to China now who will make better use of it than you ever good. You could have built an inland sea. Instead you people did nothing. Pathetic.
Without giving away too much too much info about where I live... I'm in a city where we just had a major piece of infrastructure fail, effectively cutting my neighborhood off from the rest of the city. It was a freak event and it won't be repaired for years. I expect my home value is diving as we speak so I feel a bit locked in at this point. So the plan is to refinance and rent and sell when the market recovers a few years down the road.
There are plenty of mid-size metro areas where a 2-bedroom house in decent condition 30-45 minutes from downtown goes for under $100k.
>driving an hour each way after factoring traffic and other delays just to make less than a shift manager at McDonald's
Okay so since you may have to work at times when public transportation isn't running (if there's any) and you're not going to ride a bike for two hours to get to work, that'll require a vehicle with fuel, car insurance, and monthly premiums, and if you bought some $3-4k car it'll likely cost more in upkeep than a car payment until it absolutely dies 2 years later and you've got to get another one. If you're still making payments on a car it requires total coverage insurance which isn't cheap as technically you don't own it until paid off. Even if you find some cheap used car that's dependable there's still required insurance. Factor in any potential HOA dues, school district fees, MUD fees, annual property taxes, homeowners insurance, utility bills, basic maintenance ($100 isn't nearly enough), groceries, etc. and you'll have to have a couple of roommates to make it work. Plus you'd make so little a bank wouldn't give you a loan to begin with unless you have a shitload of cash saved up for a hefty down payment, even if it's a foreclosure.
You're also not considering that any $12/hr job simply isn't going to give you full time hours. Likely 30/week tops if you're lucky. And any back taxes/liens aren't going to be on the list price of the home. There may be a disclaimer stating that on the listing, but if not it'll come up when the title company runs a check. If you're an actual retard who doesn't use a title company for any real estate transaction and go through with it, you're going to be responsible for anything owed on the property that the prior owner didn't pay, whether that's from a contractor with a mechanic's lien or the government who always gets its money.
On paper $12/hr should be enough, but in reality it simply isn't
The 45 minutes was with traffic, and if you're working a McJob you're not going downtown, you're going up the street to the nearest Interstate exit.
Agreed though that the priority here is to make more than $12 an hour. It's not hard if you're remotely intelligent and resourceful.