Jan 15, 2022
11:36:53am
Cougarite Contributor
My daughter is a teacher and makes $50k a yr in SLC. Granted she just graduated
It's pretty devasting looking at homes(townhomes, condos) with her. She wants 3 bed 2 bath so she can rent out the other two bedrooms and not have to share a bath. Her max budget - she has no car loan and no student debt or any debt of any kind is $380k. That puts her payment about $2k a month with 5% down including the HOA fee. That's the max she can go on her income. I wouldn't recommend going the max, but since she will rent out two bedrooms for $600 a month each she should be fine. It's just sad there are like 10 places for sale in all of SL county with 3 bed 2 bath. Lots of 2 bed 2 bath but very few 3, 2 and practically none where she would want to live. Even sadder that she only gets like $500 a yr raises going forward so it's not like she is going to make more and be able to afford more down the road. Guess she will have to get married.

Ones that do come on the market go for over asking which pushes it over her budget. Sad you can graduate and not make enough to buy a place.

Funny she was excited when she found out she was going to make $50k If she had stayed in Logan where she went to college I think starting pay was $42k there.
Cougarite
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Cougarite
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