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OpenAI 🤝 Search
Ppl on Reddit are grilling me really hard telling me that my salary won't last bc of the tech bubble. Thinking about purchasing a home for ~$230k. I already have a tenant that would cover the monthly payments (tenants=my parents. Yes, I am sure they will/can pay each month. This will be cheaper for them than their current rent). I'm not even trying to buy a million dollar home. What's up? I don't already have a home btw TC/yoe/gtfo: 24, 1.6yrs, 180k (140 base)
Buy it. Even if we are in a bubble that is not a stretch at all.
Why would you take money from your parents?
Exactly! So dumb
I'm not. I'm trying to lower their cost of living. (Owning a house costs less than renting where they live). I'm not going to profit from it. Just break even. I come from a low income family and this is my way of giving back/helping my parents out. Saving up for a down payment will take forever for them, and I can get a better interest rate than they could
I don’t have anything to say about a recession, but think about how to buy a home for yourself first. If you want to buy for yourself eventually, you should look into special loans for first time home buyer + primary residence which you’ll be disqualified from once you buy that place for your parents. I’m not saying don’t buy a home for your parents, but it helps to understand more about planning personal finances.
Yeah. Those are things I definitely should consider and kinda have considered. I don't plan on purchasing my own home until 8-10 years from now. So that's plenty of time to have a solid down payment (I'm on track to save at least 50k a year) and not need FHA loan. My future husband will also be a doctor by then (on scholarship, so 15k/year in medical debt), so that's more income. (And yes, we are 100% getting married. Lol)
You’re golden then, dont listen to reddit losers.
I posted it in the original post. 180 TC, 1.6 yoe
Current tech salaries are a bubble. Ten years ago they were way lower.
Why does that matter?
Indicates that they are being driven up by demand rather than by the cost of acquiring the skills
Articles like this have been posted ever year since 2011.
Which people on Reddit, the losers on cscareerquestions or the losers on the_donald?
lol. r/personalfinance
But r/cscareerquestions say the same shit about the tech bubble, and they hate ppl with TC over 100k