I'm 25, have my CPA, and work at a public accounting firm in Washington DC. I'm currently making $70k annually, have $45k in my savings, and $18k sitting in my 401k.
My girlfriend and I (4 years - soon to put a ring on it) are both living at home saving up. She is a recently barred attorney and is now looking for firm jobs, but has loans of around $125k.
My questions for you all - we want to move in together and my focus is building equity, but DC is an incredibly expensive area to buy. So would it make sense to buy a home in the bordering suburbs (home values appear to be increasing as the suburbs expand in a particular area of a neighboring county), rent it out, and use the funds to pay the mortgage while we rent in DC?
Thoughts, comments, concerns?? Much appreciated
Submitted January 02, 2017 at 01:49PM by thePetersonAccount http://ift.tt/2hKOfgS
