15 People You Oughta Know in the salary to afford 700k house Industry
If you’re like me, you can’t imagine how hard it would be to afford a 700k house! I know I wouldn’t be able to do it on my own and I don’t want to, but I want to learn to make it easier to afford a home. I also want to be able to live in a home that I can afford.
So to help you out, we’ve put together this handy calculator. It’s based off of data from the UK House Price Index and the US Department of Housing and Urban Development. We used these numbers to work out what the monthly mortgage rate would be for someone earning a 700k salary.
To be sure, the 700k salary is still a pretty high salary in this day and age. In the UK, a typical first home buyer is earning about 1.2 million, and the average US household is earning about 1.4 million. Still, these numbers are much higher than you might think. According to the government, the average US household income is just $47,000 and the average UK household income is about $46,000.
But while the average number of homes per family in the US is still rather low, the most common home sizes are bigger than most families, and most of these oversized homes are quite expensive. For example, according to the US Census Bureau, a typical family in the US uses about two bedrooms, two bathrooms, and a living area of about 4,000 square feet.
That’s a lot of living space. But you also have to factor in rent. According to the Census Bureau, a typical rent for a family in the US is about $2,500 a month. So you still have to come up with the actual number of houses to own or rent, which is something like 700,000. That’s a heck of a lot of money. But remember, 700,000 homes are not a typo.
This does not mean that you should not consider your next home a high-priced property. It just means that you should consider an extra 15 percent in the cost of the house when you are considering how much money you will need to make to own it.
My friend and I recently had a discussion about whether you should or shouldn’t rent a home. The answer was pretty simple: If you rent a home, you will only be able to afford to live in it for a couple of years. The average cost of renting in the U.S. is closer to $6,000 a month, which is about 20 percent less than what you would have to pay for owning one.
You might not be able to afford to buy a new home for a couple of years, but the alternative is to rent, meaning you will be living in a house for at least a decade, so you won’t be able to afford to buy it. It is, however, still cheaper to rent a home when you can afford it. In any case, the bottom line is that you should consider renting if you are going to buy a home.
This is something that is often overlooked when people are renting. The reason is that most Americans are renting. It makes sense that if you are renting you are willing to pay more than if you were to own a home outright. However, if you are renting because you are short of cash and you have no choice, you should consider to buy a home. That said, don’t rent unless you are short of cash and can afford to pay more than what you are paying now.
I would say that renting is also a good option if you are going to be buying a home. Although it can be a way to cover interest, you can also save money by renting. You may have to pay the higher rent for a month, or even longer, but you can always make smaller payments.