TC : 190k (base + bonus) Cash for Down Payment : 315k Emergency fund for 6 months in place Saving after down payment: 100k (Stocks/Cryptos) 401k: 130k Current rent : 2k Current monthly living exp: 4k Single income Looking in HCOL in PNW Price target: 700-800k. should I wait for interest rates to drop? Currently living with GF now and we both are ready for new place. #housing
yes go for it. you have half payment already in hands. no one knows the future but bay area will always be a good market
I’m looking at PNW (Seattle area)
even better i guess. seattle has no state tax
With that down payment your mortgage on a 800k home at current rates will still be closer to 3.5k/month. Will your gf be helping with mortgage and are you buying together? (wouldn’t recommend if you aren’t married)
She would help the monthly payments but I would be the only one on the loan.
If you both like the place then go for it but don’t count on her payment to be able to afford it so stay closer to the bottom of your budget. What areas are you looking at?
Do you see any available options in that price range?
It’s limited but there are a few in the area little north
Can you afford it - yes you can.
People saving this much ?