Hoping the title isn’t immediately inflammatory, I couldn’t figure out a better way to word it shortly.
Long story short but thanks to a lot of privilege and luck, I’m 27 with no debt and have ~$50k to put towards a down payment and closing cost on a house. With a family member co-signing, I can afford a lot more than my income would allow otherwise.
I live in the CA Bay Area and work at a nonprofit, so my income isn’t huge. I’m sick of paying over 40% of my income to nasty shitty megacorporations for boxy boring beige apartments with no yard for my dog.
I’m poly and have one partner but we are nowhere near being ready to move in together, much less purchasing property together.
This is all to say: there’s no way I can afford any of the monthly costs (mortgage, insurance, taxes) without roommates. But I hate seeing my money go to some faceless corporation and knowing I’ll get nothing out of it long-term. I also hate the idea of a condo and paying an HOA, I’d rather have my own landscaper and painter and roofer because I have a ton of connections in this town and can get a good deal while employing awesome individuals or companies.
This is why I want a house—I can live in it for a long time and slowly upgrade as I have the money and bandwidth. I’ve done the math and can afford a three bed, two bath if I charge market rate rent for two of the bedrooms. A lot of younger people are moving to my town and a lot of folks I knew in HS are moving back. I thiiiiink I’ll have options.
To be clear: I have 0 intent on making a profit except for a small cushion to make repairs/upgrades. All money will go into the house.
Is it crazy to bank on the idea of having roommates to cover costs?
Submitted August 04, 2020 at 09:48PM by QuixoticBamboo https://ift.tt/2PqV7Ag
