Should I be worried about a recession??
Ppl on Reddit are grilling me really hard telling me that my salary won't last bc of the tech bubble. Thinking about purchasing a home for ~$230k. I already have a tenant that would cover the monthly payments (tenants=my parents. Yes, I am sure they will/can pay each month. This will be cheaper for them than their current rent). I'm not even trying to buy a million dollar home. What's up? I don't already have a home btw TC/yoe/gtfo: 24, 1.6yrs, 180k (140 base)
Buy it. Even if we are in a bubble that is not a stretch at all.
Why would you take money from your parents?
Exactly! So dumb
I'm not. I'm trying to lower their cost of living. (Owning a house costs less than renting where they live). I'm not going to profit from it. Just break even. I come from a low income family and this is my way of giving back/helping my parents out. Saving up for a down payment will take forever for them, and I can get a better interest rate than they could
I don’t have anything to say about a recession, but think about how to buy a home for yourself first. If you want to buy for yourself eventually, you should look into special loans for first time home buyer + primary residence which you’ll be disqualified from once you buy that place for your parents. I’m not saying don’t buy a home for your parents, but it helps to understand more about planning personal finances.
Yeah. Those are things I definitely should consider and kinda have considered. I don't plan on purchasing my own home until 8-10 years from now. So that's plenty of time to have a solid down payment (I'm on track to save at least 50k a year) and not need FHA loan. My future husband will also be a doctor by then (on scholarship, so 15k/year in medical debt), so that's more income. (And yes, we are 100% getting married. Lol)
You’re golden then, dont listen to reddit losers.
I posted it in the original post. 180 TC, 1.6 yoe
Current tech salaries are a bubble. Ten years ago they were way lower.
Articles like this have been posted ever year since 2011.
Which people on Reddit, the losers on cscareerquestions or the losers on the_donald?
lol. r/personalfinance
But r/cscareerquestions say the same shit about the tech bubble, and they hate ppl with TC over 100k