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Old 08-29-2017, 04:24 PM
 
537 posts, read 593,134 times
Reputation: 772

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Lots of families in DFW have 2-3 kids with household income well under $100k. Many of them just have to live far out in the exurbs and deal with long commutes. A friend of mine makes about $40k a year with three kids and the wife is a stay at home mom. He bought a house in Little Elm about 3-4 years ago for about $160k.
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Old 08-29-2017, 07:24 PM
 
140 posts, read 177,386 times
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I bought a house in Frisco 3 years ago (3800sqft) for $335K. I make 125K, wife is homemaker, and kid homeschools. House is is now 425K valued. i pay 8k prop taxes, 1.1K 1% deduct insurance, 2 cars about 1k auto insurance. Avg $280/mo electric. I work from home full time. It is tight but doable. i owe about 196K on the house now. Living the dream
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Old 08-30-2017, 02:08 PM
 
1,167 posts, read 1,804,431 times
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Seriously confused with those couple outliers saying this is not possible, you gotta be kidding me
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Old 08-30-2017, 02:19 PM
 
50 posts, read 79,266 times
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Quote:
Originally Posted by Laminate7 View Post
I bought a house in Frisco 3 years ago (3800sqft) for $335K. I make 125K, wife is homemaker, and kid homeschools. House is is now 425K valued. i pay 8k prop taxes, 1.1K 1% deduct insurance, 2 cars about 1k auto insurance. Avg $280/mo electric. I work from home full time. It is tight but doable. i owe about 196K on the house now. Living the dream
Inspired.
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Old 08-30-2017, 02:21 PM
 
450 posts, read 552,374 times
Reputation: 277
It all depends on what you determine is "enough". If you are one of those materialistic people, then probably not. I know a lot of people who are stretching thin that make well below $110K.

Quote:
Originally Posted by Laminate7 View Post
I bought a house in Frisco 3 years ago (3800sqft) for $335K. I make 125K, wife is homemaker, and kid homeschools. House is is now 425K valued. i pay 8k prop taxes, 1.1K 1% deduct insurance, 2 cars about 1k auto insurance. Avg $280/mo electric. I work from home full time. It is tight but doable. i owe about 196K on the house now. Living the dream
This sounds about right.... have any debt? Enjoy that f***ing house pal, you bought at the perfect time.


Your home insurance is too good to be true. However, If you are a bargain hunter, you might be able to get it that low. I pay a premium for Amica, but when I had hail damage, I pretty much remodeled my backyard, I MADE money.

Quote:
Originally Posted by bringiton1 View Post
Inspired.
Don't be inspired.... those days are long gone. This guy bought one of the BEST times to buy.

If you don't mind driving a decent commute, then you can acquire your dream. $110K with no debt can go a long way though.
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