Looking to buy a house, but also want to quit and look for a new job
Essentially title. Single M and I’m looking to buy a multifamily house (rent out one and live in one) but I also want to leave Walmart. I’m afraid with all the layoffs happening, if I get a house then get laid off from new company with some severance, I’ll be stressed from mortgage. If I get laid off from Walmart, I realistically have 2 years of living expenses saved so I have a lot wiggle room to apply and look for jobs, but the minute I buy a house I’ll realistically have only 2-3 months saved at best (without reaching out to people if I’m desperate). Do I just sit at Walmart until I build a foundation and extra wiggle room, or yolo it and aim for that higher TC? TC: 235 YOE: 6
I'd wait in the current job market it realistically takes 18 months on average to find a job.. if you don't have the savings i wouldn't do it. I recently bought a house while my partner was looking for a job we bought something that we could afford on one of our salaries in case he was laid off
ping me if you need a partner for multi family house
I was in this situation, if you leave your job while searching for a house, you'll have trouble securing a mortgage. They want to see consistency. I recommend (which is what I did). Leaving 1 month after you buy your new place to avoid complications.
Location, x4?
Whatever you do, a house is not in the cards for you right now. You should have a minimum of 6 months of living expenses and better to have a year or more available to you after the purchase, and it doesn't sound like that's going to happen.