Anonymous
Anonymous asked in Business & FinanceRenting & Real Estate · 1 month ago

Could a CNA make enough money to put a down payment on a house?

I still live with my parents and want to go to college to become an CNA. If I get my certificate and find a CNA job, will I make enough to put a down payment on a house?

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  • 1 month ago

    There are a lot of variables (hours worked, pay rate, local cost of living, other expenses, etc.), but it’s unlikely. CNA jobs usually pay not much above minimum wage; the starting rate at my hospital is $15/hr, which is about 28k/yr before taxes. Even if you could save for a down payment while living with your parents, you most likely could not afford mortgage payments, homeowner’s insurance, property taxes, and maintenance along with all the other costs of living independently.

    A better long term plan might be to work as a CNA while going to college and preparing for a better-paying career. You actually don’t go to college to become a CNA; you complete a very short vocational training program and/or get on the job training.

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  • G R
    Lv 7
    1 month ago

    Sure eventually you would

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  • Anonymous
    1 month ago

    There are a million variables.

    Hours worked

    Overtime

    Pay rate

    Cost of living

    Family support

    Etc.

    In general, I'd say home ownership is out of reach for a single person, working regular full time hours, as a CNA. You'd do better to invest the money you make into further education.

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  • Bort
    Lv 6
    1 month ago

    No. The CNA title is pretty much the bottom of the barrel that doesn't require much to achieve. National US statistics state that the average median anual income for a CNA is under $27k.

    That's just above minimum wage and doesn't include deductions for taxes or health benefits.

    No, a CNA cannot afford a house on their own.

    You'll have to stay in school longer and work at getting a higher nursing degree.

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  • Judy
    Lv 7
    1 month ago

    depends on the cost of the house, and how good of a saver you are and how long you save. But a CNA would typically find it hard to afford a house.

    depends

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  • 1 month ago

    i dont see why not

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  • 1 month ago

    not in my area..even if you saved up all cash, the cheapest minimally decent house is about 200K. property tax will likely be at least 7500/year. likely 2 bedroom...and very rare to find....minimum 250K is more feasible..with 10K/year taxes

    utilities a few hundred per month, repair budget, insurance and so much more

    CNA is not really a college course....its a short vocational course..  in my area they make barely above minimum wage....30K a year after a while if they are lucky....

    comes out to 2000 after taxes--housing expenses minimum 1000/month (if you pay cash for the house), may need to pay toward health insurance....pay food, clothing, transportation, etc.....its not sustainable.

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  • 1 month ago

    well I mean do you live in Iowa or California,

    In iowa, probably, in California,probably not.

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