How much mortgage can I afford in Austin?
Oct 9, 2021
95 Comments
Recently accepted job offer in Austin with following numbers:
150 base, 24k sign on bonus, ~5k/year RSU
I will be looking to buy a home in Austin area in about a year or so. Currently waiting for the Austin housing bubble to start to simmer down.
As a first home buyer, I’ve done a lot of research on the basic things I need to account for in order to get approval for mortgage.
However, I haven’t seen a magic number for income to mortgage ratio. Only debt I have is $400 car note and 2 credit cards with ~$50/month minimum payment.
I would like to ask Austin blind community to assist me with a price range for a home where I wouldn’t be house poor. I was thinking $450k but that might be exorbitant. Please advice 🙏🏽
YOE: 1.5
New TC: ~170k
comments
Also as already mentioned, for that price range get ready to pay 10-15k per year in property taxes.
We’re planning to go to Russia in 2023 and spend about a month on the train from Moscow to Beijing.
It’s not dodgy or ghetto, you’re just racist. This part of town is predominantly multi generational Hispanic families who are all soon to be displaced by asshole Tech bros. Local stores out here are mostly Spanish speakers.
The biggest concern buying out here is foundation problems; this entire area is slab on grade. The top soil is Sandy loam on top of several meters of clay that’s rather fluid. Your house will move and foundation will crack eventually. That’s why Austin stopped growing this direction in the 1970s. Builders didn’t want the liability when they were $20k builds.