Buying a house @5 yoe and 29 yr old

Cisco / Eng elastick
Sep 14 20 Comments

I’m a 29 yr old single guy, a Sr. Software Engineer, with less than 1 year in a full time seemingly-stable job in the US. Wanted to purchase a Tesla and/or buy a house.
Now with the given volatile state of housing market, I’m not sure if purchasing a house all by myself is a good idea. I’ve checked couple of houses and have eyes on a few in South San Jose.
Now with the plan to rent out a room and make the other room my primary residence, it may work out but if the housing market crashes, as is being predicted in the discussions about the oncoming recession, god forbid if I lose my job, will be my worst nightmare.
I could buy a car instead and have wait for another year as one of my senior colleagues predicted, would be a much better buyer’s market.
What’s your take on this and is this a good time in general and/or for me to take this bold step?

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TOP 20 Comments
  • Lyft done2
    Get a wife first
    Sep 14 2
    • Microsoft / Eng
      MgIr74

      Microsoft Eng

      PRE
      Amazon
      MgIr74more
      Ya cause if they don’t like your house you have to buy another one.
      Sep 14
    • Cisco / Eng elastick
      OP
      I’ve been thinking about it and it makes sense from stability perspective.
      Sep 14
  • Microsoft / Eng
    MgIr74

    Microsoft Eng

    PRE
    Amazon
    MgIr74more
    100% don’t buy a Tesla. Depreciating asset bro. Index funds or a house are much better options.
    Sep 14 1
    • Big Switch Networks / Eng script
      Yeah but Tesla’s are an appreciating asset because of FSD /s
      Sep 14
  • LinkedIn Wiener
    Buy a house and the wife will come.
    Sep 14 2
    • Lyft done2
      But not the kind you want
      Sep 14
    • LinkedIn Wiener
      The house is still OP’s separate property.
      Sep 14
  • Dropbox rawhide
    Buying a Tesla...Jesus Christ.
    Sep 14 1
  • Microsoft oackjfk
    There isn't going to be a crash. What bubble is there currently that could pop?

    If anything houses are a little overpriced in some areas and there is room for correction.

    But crash? No.
    Sep 14 5
    • Apple pollett
      Blowing everything on web/apps with advertising and claiming it as part of revenue is a bubble of its own kind
      Sep 14
    • Microsoft oackjfk
      Wut
      Sep 14
    • Twitch KzhW27
      You think WeWork and Uber and all these other BS companies that won’t make a profit in 100 years are actually sustainable businesses? Dude when this thing actually blows up it will take the entire economy down with it.
      Sep 14
    • Apple pollett
      If you are following up with WUT I know you don’t know anything
      Sep 14
    • Microsoft oackjfk
      So you think there will be widespread job loss that will crash the market due to a particular industry relying on unstable revenue.

      See that wasn't so hard to say.

      Instead of your little smart shit responses.
      Sep 15
  • QuoteWizard / Data
    boops

    QuoteWizard Data

    PRE
    Amazon
    boopsmore
    I bought a small condo further from the city which is lower than my rent at that time. I wouldn’t regret it even if there was a crash, and also being further from the city means it’s relatively insulated (the booms are always closer to the city cores, so my condo didn’t increase that much compared to the ones in town)

    Could be something to consider
    Sep 15 2
    • NVIDIA CHXn44
      What area? Isn't the work commute killing you?
      Sep 16
    • QuoteWizard / Data
      boops

      QuoteWizard Data

      PRE
      Amazon
      boopsmore
      ^ Seattle, and actually no, the commute is 35 min bus ride. The key is to get something on a bus line without transfers! also being further from the city guarantees a seat in the morning, which is awesome. In the past when I lived close to work, I couldn’t get onto the bus cos it was always full in the mornings.
      Sep 16
  • Microsoft / Eng coolbloke
    House = Building Asset (=Passive Investing) != Tesla
    Sep 14 0

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