$100k household income is more in line with a $300-350k home in DFW. Any higher than that, the mortgage payment could make a buyer house poor. That’s also factoring in no other debts. 20% down may be difficult for a first-time buyer to save, so 3.5-5% down would be a more reliable assumption.
Use to live in Dallas, property taxes and insurance, and homes overvalued by 30 to 40 percent you would be making a big mistake. DFW. Metroplex is already in a housing bubble, like Florida it's going to collapse.
I’m not sure if this is a house someone making $100k can afford. Dallas insurance is so high now. Do you have an insurance broker who you would recommend?
We do. Insurance isn’t so bad…it’s the property taxes that can get you. But you can homestead the property and that will help quite a bit. Shoot me a text and we can talk about the broker 214-441-6684
If you pay cash, you can get away with a couple of those…but where are you not paying property tax…unless you’re disabled. Teach us your ways Investor Millard!
@@LIVINGINDALLAS I don’t think it’s a good idea, because with the monthly payments they are house poor at their yearly income. They would have to put more than 20% to afford the house more like at least 1/3 down.
@@eblawrenceeh depends a lot of people have great investments or high ROIs in place already to where 20% isn’t much. Not every buyer who makes 6 figures just started making 6 figures recently if that makes sense.
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100k a year is about 6-6.5k a month after taxes. A 600k home would cost you at least 4k a month. The math does not math.
Maybe you’re working with the wrong mortgage lender Muffin Man. My guy is the best in the biz…
Muffin Man has a point. Can you show us the number that will make sense? Saying "your guy" is the best. Can you provide us some sample computations?
$100k household income is more in line with a $300-350k home in DFW. Any higher than that, the mortgage payment could make a buyer house poor. That’s also factoring in no other debts.
20% down may be difficult for a first-time buyer to save, so 3.5-5% down would be a more reliable assumption.
Yes sir. You can afford that price of home as well.
Use to live in Dallas, property taxes and insurance, and homes overvalued by 30 to 40 percent you would be making a big mistake. DFW. Metroplex is already in a housing bubble, like Florida it's going to collapse.
So where do you live now and when did you buy your home?
I’m not sure if this is a house someone making $100k can afford. Dallas insurance is so high now. Do you have an insurance broker who you would recommend?
We do. Insurance isn’t so bad…it’s the property taxes that can get you. But you can homestead the property and that will help quite a bit. Shoot me a text and we can talk about the broker 214-441-6684
Thank you for your time and for creating such important information vlogs!
Appreciate the kind words!
Where would you recommend for $190k price point?
I know a couple of spots. Depends on where you want to be or if you want new construction or pre-existing…shoot me a text 214-441-6684
Great Video, Can you also please do video on Highland Lakes, McKinney TX and help share your perspective?
You lost me at 20% down. That's just not a reality for most people except for maybe your handful of clients.
@@Musiqman76 wrong.
That’s a life of slavery! No thanks! No hoa, no prop tax, no insurance!
That’s how I & the way to roll this area!😊
If you pay cash, you can get away with a couple of those…but where are you not paying property tax…unless you’re disabled. Teach us your ways Investor Millard!
Thank you for the video, you make great content. However, there is nothing luxury in vinyl plank floors, stop normalizing it, please.
That is marketing for you! I have LVP in my home and I wasn’t a fan at first but it is amazing for pets and kids. That is luxury in itself!
😂😂😂
@@LIVINGINDALLASit saved my whole house in recent 65k gallon flood!😊
Who is putting 20 percent down 😂😂😂
We work with many clients selling much more expensive homes in other states and they put down 20% all the time.
We put 35% down.
I'm putting 20% down on $750k home.
Not a flex, just letting you know people are doing it.
@@LIVINGINDALLAS I don’t think it’s a good idea, because with the monthly payments they are house poor at their yearly income. They would have to put more than 20% to afford the house more like at least 1/3 down.
@@eblawrenceeh depends a lot of people have great investments or high ROIs in place already to where 20% isn’t much. Not every buyer who makes 6 figures just started making 6 figures recently if that makes sense.
So not that hard
Great video and handsome TH-camr!
I am just here to see muscles 😂
Probably have to keep looking 😂