Posted by: sajhamitra September 27, 2019
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@Sexy in Sari,
Yes you are right that on those expenses but if you are renting your landlords are already calculating those amount and charging those as your monthly rent + >1% cash flow of their investment. Also keep in mind that your rent WILL keep on increasing on top of inflation but your mortgage will be flat. 1/2 million, 1 million or 1.5 million are just numbers. If you are living in HCOL area you will be paying more and you will be earning more. It's as simple as that. In SFO, you will be paying 1 million+ for 1500 sq ft house but your income will be also 200K+/year.
Yes you are right that on those expenses but if you are renting your landlords are already calculating those amount and charging those as your monthly rent + >1% cash flow of their investment. Also keep in mind that your rent WILL keep on increasing on top of inflation but your mortgage will be flat. 1/2 million, 1 million or 1.5 million are just numbers. If you are living in HCOL area you will be paying more and you will be earning more. It's as simple as that. In SFO, you will be paying 1 million+ for 1500 sq ft house but your income will be also 200K+/year.