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Property thatched cottage that backs onto a tiger enclosure is up for sale for 375 000.
Average income needed to buy a house. You may want to paint make some cosmetic changes and buy furniture. Gross monthly income needed. For every dollar of debt you will need double that in income. Meanwhile a terraced house is much cheaper at 179 087 on average with a required salary of 32 381.
So at the end of the day how much income you need to purchase a home is predicated on your monthly income consumer debt obligations and down payment. Bera suggests putting 5 000 to 10 000 into a home. If you re buying in a higher priced state you might need a bit more in savings to account for the disparity between average income and home prices.
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