Currently, I can afford a 800k house in Seattle
But I want to buy a 1m house. The problem is when I can afford the 1m house next year, the current 1m house may become a 1.2m house and I won’t be able to afford it again. It’s like an endless rat race. I feel like I’m a loser, I wish my family could give me 150k now! I wish msft could pre pay my next year’s salary Tc 200
cool story, thank you for sharing
Buy something which you can afford and are happy. House hunting is pain buddy, good luck
You can buy the 600k-700k, find 4 bedrooms house, live in a room and rent other 3 rooms. Which allow you to: 1. Not falling behind with the house increase 2. Earn additional income by renting 3 rooms Along with your main salary increases, eventually you can catch up. Also, if you are married in the future, you can loan more. Been there done that, so I can tell you that it is doable 🙂. Good luck
600k gets you a 1 bed 1 bath condo
Why can't you buy what you can afford? Maybe something with 600k-700k?
https://www.redfin.com/city/16163/WA/Seattle/filter/min-price=450k,max-price=650k What's wrong with these houses?
You mean other than the fact that almost none of them are houses?
With 200 tc you can afford 3X house. So upto 600k.
With down payment 20%, 800k houses mortgage is 4500 which is 35% of my salary
Stretch to higher payment, and 7000 for a year
I hate to break this to you, but if you could afford a $1 million house today, you would want a $1.2 million house instead. It a human nature.
What is wrong with renting? Isn’t people on blind give logic that your mortgage will be 6-7k for the home which will be 3k to rent.
In 2015 I was pre-approved for $700k. I bought a $400k house, I didn't need a McMansion. Live within your means
2015 400k house is today’s 1m house
There's areas that are reasonable, Monroe and east, where you can get a house for well under $1 million. You work @ MSFT and don't have to RTO, so expand your search.
I hope you have a lot saved to buy a 800k house on 200k tc