HousingSep 14, 2019
Ciscoelastick

Buying a house @5 yoe and 29 yr old

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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Microsoft MgIr74 Sep 14, 2019

100% don’t buy a Tesla. Depreciating asset bro. Index funds or a house are much better options.

Big Switch Networks script Sep 14, 2019

Yeah but Tesla’s are an appreciating asset because of FSD /s

Lyft done2 Sep 14, 2019

Get a wife first

Microsoft MgIr74 Sep 14, 2019

Ya cause if they don’t like your house you have to buy another one.

Cisco elastick OP Sep 14, 2019

I’ve been thinking about it and it makes sense from stability perspective.

LinkedIn Wiener Sep 14, 2019

Buy a house and the wife will come.

Lyft done2 Sep 14, 2019

But not the kind you want

LinkedIn Wiener Sep 14, 2019

The house is still OP’s separate property.

Dropbox rawhide Sep 14, 2019

Buying a Tesla...Jesus Christ.

Northrop Grumman HowCouldYu Sep 14, 2019

lol

Microsoft oackjfk Sep 14, 2019

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.

Apple pollett Sep 14, 2019

Blowing everything on web/apps with advertising and claiming it as part of revenue is a bubble of its own kind

Microsoft oackjfk Sep 14, 2019

Wut

Microsoft coolbloke Sep 14, 2019

House = Building Asset (=Passive Investing) != Tesla

QuoteWizard boops Sep 15, 2019

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

NVIDIA CHXn44 Sep 16, 2019

What area? Isn't the work commute killing you?

QuoteWizard boops Sep 16, 2019

^ 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.