What is the estimated TC to live comfortably in LA( Los Angeles)?
Assuming a rent scenario and a buy scenario and working in Silicon Beach
Lero Labs lyVd32 Aug 23, 2018
Like anywhere else, your buy scenario should be based on whether after putting 20% down, with a DTI of 28-36%, you can afford a mortgage with your salary. There are several home affordability calculators out there. With rent, you want to pay no more than 20% of your salary towards rent. Otherwise it cuts into your ability to save. What’s your base and TC in Silicon Beach?
Age/family?
For 25/single $90k is very comfortable for renting within a 10 minutes drive of the beach at Santa Monica. Add a little if you don't already own a car
Like anywhere else, your buy scenario should be based on whether after putting 20% down, with a DTI of 28-36%, you can afford a mortgage with your salary. There are several home affordability calculators out there. With rent, you want to pay no more than 20% of your salary towards rent. Otherwise it cuts into your ability to save. What’s your base and TC in Silicon Beach?
DTI?
Debt to Income ratio. Look up any home affordability calculator and they will define all of these terms in much greater detail than I can.