22 years old, 0.5 YOE, ~180K TC Renting in Bellevue rn for $850 / month with 2 roommates in a SFH, one of them plays loud AF soap drama and the other LoL, honestly pisses me off so much. I've looked at rents for 2BR condos, and they are around ~2.5K / month. But buying a similar condo with 5% down gets me 3.5k / month. Maybe rent out 1 room? But then I'll be back at square 1 if tenant is ass. I have about 150K saved up from internships + sign on. Is it more worth to buy or rent if goal is to maximize investment return and getting some privacy? (put more into stocks / ESPP if renting)
Hey Bro it hurts to read that I piss you off so much.
Bro if u on a 10 game losing streak in LoL take ur rage outside fam
Find other roommates
Why not rent a nice 1br apartment. Would be cheaper than townhome but more than your SFH split probably. I could never live with roommates.
Rents for that in the area is similar to 2BR, it's like 2.3K ish.
Keep moving till you find people you can cope with
Good idea
Like others said don't underestimate other expenses like property tax, insurance, and maintenance. And no, tax breaks won't cancel out these expenses completely. Think when you are renting, rent is your maximum obligation, anything breaks in the house you call your landlord and they'll fix it. When you are an owner, a mortgage is your minimum obligation. Anything else is on top of that. There may be HoA or maintenance, you'll have to spend time doing chores which are taken care of when renting. So, home ownership comes with its own challenges.
Make good friends and move with them .. Its not about money but I am social and love to have friends around .. Don’t try to share a house and then make friends .. Another option is buy 2 bed 2 bath condo .. Rent one of the rooms and you are done .. You can always use that as investment property in future .. If yu have 150K just put 75K as initial and buy the condo .. Your roomate will pay the interest amt for you
Why does other roommate piss you off?
I am 36 and all my net worth is 2 times less than your yearly pay . I have PhD in physics. Fuck it all
I understand ur feeling .. Things will work well in long run .. Teachers who taught these kids earn half of what they make .. Life is not fair .. Get out of blind and live ur life
Did you account for Property Taxes, Property Insurance, and all utilities?
O shit yeah thats right. The 3.5k is just principal + interest. But I heard there's tax advantages, like u can deduct from interest and stuff, perhaps that cancels out the other BS expenses somewhat?
Any deductions will be at tax time though, not on monthly payments