I’m 26 and live in a lower cost of living area in California (Central Valley)
I make $130k a year gross and always max out my 401k/Roth, I’ve been fortunate enough to live at home during this time with very minimal expenses $500/month in rent and other minor things. I’ve been saving for a house.
I have no debt and $100k cash in savings for a eventual down payment.
Unfortunately during these last 2 years housing in my city has gone up approximately 30-40%, I really feel it’s a foolish time to buy but financially I am ready to take the plunge. At this time in my life I don’t necessarily plan on getting married and having kids so I was looking at 2/2, 3/2 starter homes at the 380-420k price range.
Part of me wants to wait 6 more months to see what happens after the eviction moratorium but I don’t see the catalysts to really slow down housing prices.
If I’m financially ready, even if I feel like I’m overpaying should I just go for it?
Submitted April 11, 2021 at 11:28PM by Xouludue https://ift.tt/3wGQwOG
