Want a Million-Dollar House? 💰🏠🌴

Want a Million-Dollar house? 💰🏠🌴
Have you ran the numbers to know what you need?

1. You’ll need to be earning about $15,000/mo
That’s you AND your spouse earning about $46/hr or $90K/yr!

2. You’ll need at least $200,000 for the down payment
That’s saving a quarter of your income at this level for 4.5 years!

3. Avg property tax is 1.07% so plan to spend an extra $10,700/yr.
If you are in Jersey (highest property tax) it’s going to be $24,200/yr. Hawaii is the cheapest at .28% which means you’ll only need $2,800/yr!

4. Home maintenance is going to cost $10,000 to $40,000 per year using the 1-4% rule.
That’s about $2K per month!

And we didn’t get into lawn maintenance, maid service home security etc. 😩

If owning a million-dollar residence is one of your goals, I think it’s safe to say that even if both you AND your spouse had 9-5’s that that paid $46/hr, you would still need a little more…

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Pic: https://www.zillow.com/homedetails/5025-Terraceview-Ln-N-Plymouth-MN-55446

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