I am just curious, I have a net worth of about 180k. And looking for houses around 400k. My TC is 150K. Is my finanaces looks good for buying house. I am thinking of putting 6% down, my net worth is as below: Stocks: 110k 401k: 50k Crypto: 20k Thanks
Which city?
I wouldn't recommend it until you have 20% down and atleast 3 months of emergency funds available
Do the math with the PMI, you are going to have a decent premium with only 6% down. Might be worth it to wait and save some more/liquidate more stocks. Overall finances look good to make it happen.
Looks good.
I didn't know you could make 150k at Cerner
Cerner and 150k contradicting each other 🤔
i dont work at cerner anymore
Yall have a misconception about pmi. If you buy in a cheaper area like east bay of bay area and put 5% down, your pmi can be like $100-150/mo. It's different from putting 5% down on south bay or sf homes... where the higher monthly payments and high pmi to insure big mortgage can hurt Frankly I'm getting tired of the inaccurate advice about housing from this group There's a new group of millenials who just started tech careers and have 200k+ tc and lower savings due to short time in industry. In that case it makes sense to put 5% down and gain a foothold in bay area RE
Just remember: a home will be your biggest liability, not asset
Why not both?
Blue leaf puts it better than I would, so here’s what they say: Your primary residence is an expense, not an asset. It’s not as liquid as you think and many people hold onto their homes later or sell earlier than their plan dictates so they can try to time the real estate market. Investment properties or REITs are a better way to have real estate exposure in your overall portfolio.
Go ahead
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