How Much House Can You REALLY Afford? (How To Calculate)

How Much House Can You REALLY Afford? (How To Calculate) | NerdWallet

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Күн бұрын

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You want to buy a house, but how do you figure out what you can afford? Home Nerd Kate Wood shows you how you can come up with a monthly mortgage principal and interest payment that will work for you, taking into account the additional expenses of homeownership and what might be different from renting.
Suggested Articles:
How much house can I afford?: www.nerdwallet.com/mortgages/...
How Much Money Do You Need to Buy a House?: www.nerdwallet.com/article/mo...
Chapters:
0:00 - Intro
0:48 - Nerdy Tip: Start With Your Finances
1:12 - Nerdy Tip: The Cost Of Your Home Should Be About 3x Your Annual Household Income
1:38 - The 28/36 Rule
2:31 - NerdWallet Home Budget Calculator
4:02 - Budget Considerations
5:45 - Home Warranty Tip
6:13 - Conclusion
#NerdWallet #BuyingAHome #Budget
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How Much House Can You REALLY Afford? (How To Calculate) | NerdWallet
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Пікірлер: 14

@MakeAMark1755 Жыл бұрын

Love the calculator. I've been using it for years

@katem5035 3 ай бұрын

Thank you!

@jamesd6717 Жыл бұрын

Helpful! I'm doing research for 20 years from now retirement home so that's even more math! But math and calculators are great practice

@sumanghosh-pb3dw Жыл бұрын

1:36 - 2836 rule, don't spend more than 28% of your monthly gross, again b4 tax.

@journeytowisdomandwealth2905 Жыл бұрын

This was super helpful.. n I just bought a house so glad I had a budget to start. The nerd wallet site shows less than what I pay now but when taxes go up sheesh

@vikkiyates1934 11 ай бұрын

Hi, How can I find the calculator? What tab is it under and do I need to create an account first?

@nerdwallet 11 ай бұрын

Hi Vikki, thanks for reaching out to NerdWallet! Creating a NerdWallet account is not necessary to use the calculator. Please follow this link to use the calculator: www.nerdwallet.com/mortgages/how-much-house-can-i-afford

@daveicc495 Жыл бұрын

Or you need new windows, a new furnace, new roofing, a new garage door, lawn care, etc…. You better put a whole hell of a lot of money into that emergency fund depending upon the type of home that you own albeit a house or condo unit!

@a-affordablecom Жыл бұрын

A-AFFORDABLE loves this article!!!

@dname1802 8 ай бұрын

Median household hold income in US is 74000. But all these videos give examples of 150k, etc. Even then according to this logic you can't buy a home in most places. Dave ramseys logic is even more unrealistic 😂

@nwj03a 3 ай бұрын

The median household income includes single individuals, single parents, retirees, 18 year olds who don’t have a HS diploma, recent college graduates… a wide range. If you’re married, in your late 20’s - mid 30’s (aka first time home buyers), you should be above the median. Two people making 15.50 an hour (full time, no OT), make 65k a year. If you make the average teachers salary (60k), then your household is 120k. 74k is indicative of almost nothing.