is 100k enough?

Anyone from the Maryland, Washington, Virginia area...

Is 100k per year enough to have a decent lifestyle with a small family?

I have no idea other than everything and everyone saying the cost of living is high?

I would like a house or townhouse with about 1800 to 2000 sq ft. Rent/Own either

It would be around the ft meade area...

Any advice would help, thanks!

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Comments

Cyberscum

stlsmoore wrote: »

Yea I hear you on that, I thinking about throwing everything I have at my mortgage to get it paid off in 6-7 years.

I hear ya…..People think owning a home is an investment.

What a crock of crap. What kind of horrible investment would you pay interest on over 30 years, have the price doubled or tripled and get a negative return on after the life of the investment….Not buying a home is a good investment

anhtran35

I find if he wants to be a HIPPY but not on his parents dime. They are providing him with electricity, water, food, shelter etc...so he is now a burden on their own savings etc...he's happy...I'm sure his parents are NOT.

AwesomeGarrett

Cyberscum wrote: »

I hear ya…..People think owning a home is an investment.

It is a great invesment! They just don't tell you that it's the banks great investment for all the reasons you mentioned. By all means buy a house and one you like but just don't do it under the impression that it's a great investment.

GoodBishop

LeBroke wrote: »

$500,000 house with 2,000 sq feet? $100,000 jobs considered average? Where is this magical pony fairy tale land where houses cost less than $1M and people make more than $50k?

Chicago. 530k house, 1938 sq ft. *sigh*

jibbajabba

hurricane1091 wrote: »

If you can't live on $100k you need to hire a financial counselor.

.. or move ..

You wouldn't get far with $100k if you'd live in Angola and the only jobs offering $100k are jobs which include housing, transportation and food for you and family.