I have a question about buying a home and a car.?

D

dante

New member
Assuming my salary is $100,000 per year, how expensive of a home could I afford on my own and still be able to save for the future? What about if I have a wife and the income is split in half? Then how expensive could go? Now, assuming I make the same salary, could I afford something along the line of a Range Rover truck with my home and still be comfortable? They cost about $50,000+. Not too good for a used car either. Accurate information would be greatly appreciated.
 
If I were you I would not buy anything over $300,000. Sure, you could afford more, but do you really need it? A home is only a good investment if you make a profit on it. But to make a profit you need to pay off the mortgage quickly.

Cars lose value with time so don't go too crazy. I'd buy something in the $20 to $30,000 range.

I make a habit of living a lifestyle that's slightly below what I can afford. This allows me to save money and not be screwed over by unexpected expenses that may come up.
 
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