What is an acceptable salary?

Question

I plan to own a home in Pennsylvania (the avergae cost is $200,000.00). I also want three children and a husband. The average salary for the job I want is $45,00.00. I need to know if this will be enough to support this lifestyle.

Answer 1

A general rule of thumb is that the house you own should cost 3 times what your annual salary is.  Therefore, if you wish to buy a $200,000 home, your annual income should be about $65,000.

Sorry if this is bad news

Answer 2

Make sure you get the job, it is stable and you stay awhile and then worry about getting a house. My cousin did something similar to this-bought house without thinking-and has to work 12 hours a day/6 days a week, because the taxes went up and that new home needed new things. I am in NJ and to get a job above 40K here now means you must have lots of experience or a very needed degree.

Answer 3

$45,000  before  taxes  and  deductions   will  be  about  $33 ,000  after-wards .

In  order  to  afford  that  house  you   will  need  about  $80,000  down  and  since  you  plan  of  having  children ,

Factor  in  about   $12,000  a  year  for  child  care .

( although  abandoning  children  with  strangers  is   mean ) .

Start  making  up   a  budget  sheet .  .  .

Home :   Mortgage  ( principal  &  interest )    =    __  ?  ___

              property  taxes                                       ?

              home  insurance                                       ?

              Gas ,  electric ,  water  ,  garbage

             Phones ,   TV  service   etc

          Car  loans ,  car  insurance ,  gas ,  tires ,  oil  changes  etc

Start   making  up  basic  budgets  so  then  you  will  be  prepared .

Good  Luck

>  

Answer 4

is that 4,500 a month or 45,000 yearly? Either way i think you'll be ok.