Archive for March 26th, 2010
This Week’s Dream Home
Thinking big and dreaming big is how you get into something like this. Of course you should run the numbers before you buy and make sure it fits your budget. This pad is on the market for a mere $13,500,000. Your 20% down payment would be $2.7MM. This leaves you with 10.8MM Financed. The monthly Payment at 6.5% on a 30 year principal and interest is only $68,263.35. So based on conventional thinking, your income in order to afford this has to be approx 4X that amount, or $273,053.39/month. This means you need to be comfortable earning $3.3MM annually to think about a home like this and you had better be able to maintain that level of income on a consistent basis because these homes do not sell fast at these prices. The photo links to the website we grabbed it from (www.dreamhomes.us)
Nice huh?
