31M this year. Single. Making 140000 a year in south Portland, Beaverton Oregon area. I'm paying 1400 in rent right and utilities now. I have about 40k in my 401k, 60k in a taxable investment account. 5k in emergency savings. 20k cash which came from a liquidity event. My only debt is a 25k car loan left at 3 percent interest for the next 5 years. I know that I am going to be in my job for another 2.5 years. I am able to save 3000 dollars a month after taxes / 401ks / debt payment expenses currently
My folks are willing to spot me 50k, if I can come up with 50k cash (which I think I can do by the end of the year).
They are telling me that they will only support me if it's for a single family home that as upside in appreciation. But those cost about 500k to 600k.
With my salary, and capital access, and current interest rates rising and housing market, should I do this? I also qualify for the first time home buyer benefit, and I'm okay renting a room out to a housemate etc
Submitted March 06, 2022 at 10:24PM by soulslicer0 https://ift.tt/ZrCXdvV
