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Coffee_cat262 t1_iznheve wrote

Ya, landlords everywhere usually won’t let you pay more than like 40% of your income on rent, that’s pretty typical and both when I lived in Austin and here. Just curious though, there is a 401k you’re not talking about here right, I assume you only gave us the money you could potentially spend if push comes to shove for the purposes of this post. Just confused as to why you have 70k in savings and only 45k in Roth. I assume it’s because you have a fat 401k. I know this isn’t r/personalfinance but I’m curious.

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Ecofolux2427 OP t1_izo27sr wrote

I want cash in hand for buying a house. I can only withdraw up to 10K from by Roth (penalty free) as a first time home buyer. So I don't want all my money locked up.

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Wtf_is_this1234 t1_izo3u78 wrote

You don't have enough for 20% down on most properties in the area. You may as well just look at an FHA loan although tbh you're probably going to remain house poor even then. You just don't make enough to afford a house here.

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Ecofolux2427 OP t1_izo5j27 wrote

My family will help out a little with the down payment and my soon to be wife will make 2x what I make. You're right though. On my salary alone there is no way I could buy a home here.

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UniWheel t1_izp1yxe wrote

>I want cash in hand for buying a house.

Then you don't want to be blowing 50% of your income on rent

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