I am trying to decide between 2 flats for myself, my wife, and our 2 kids, aged 4 and 2. One apartment is 375/wk. The other is 520/wk. Income is 70,800/year.
I'm figuring after taxes, net income will be about 46,000. My choice is to spend 20,000 or 27,000 per year on rent.
How much income would I need in order to realistically afford 520/wk in rent?
We have some rental income that we could tap into.
Which place should I choose?
I'm figuring after taxes, net income will be about 46,000. My choice is to spend 20,000 or 27,000 per year on rent.
How much income would I need in order to realistically afford 520/wk in rent?
We have some rental income that we could tap into.
Which place should I choose?