Homeowners in H1B
Curious as to how many households in top tech markets - BayArea and Seattle area - own house while being on H1B. What are your backup plans when you lose job and are forced to go back? I have not seen an study so far where you can get a sense of the percentage of homeowners in H1B. Lets see if we can get it here. TC: $430k
“Lose” vs “Loose”. Please look it up. I’m in a dual income household. We have a low risk appetite, so we bought something whose payments are manageable with one salary. We were also quite fortunate to have bought in 2011. Stocks have also appreciated so much that we can pay off our entire mortgage with it if we choose to. We were on a GC when we bought the house, citizens now, but would have bought even on a h1b, because we expected it to appreciate enough that we would not "lose" money on the sale even after long term capital gains and realtors commissions. The US allows you to own property here even if you don't live here, so it's not catastrophic if you have some financial cushion in case you lose your Visa status. If you're in a home whose monthly mortgage and tax payments stretch you thin, that's risky even if you are not on a visa.
Thanks for the spell check there. Anyone who bought house before 2015 has a different story in terms of monthly payments. It’s not that same afterwards. Then there were taxation changes which made the situation even worse.
BayArea H1B homeowners with dual income, what happens when one of you loose job? Can you sustain monthly payment (and expenses) on the base salary of one person?
We can afford to pay off our home today. So that is a definite yes.
What kinda money is these Maniacs reeling ?