Yeah, it's less time consuming, but still... It's frivolous, but it was also really nice making it exactly to our needs/taste.
Yeah, it's less time consuming, but still... It's frivolous, but it was also really nice making it exactly to our needs/taste.
hi, yes you can afford a $1m home. I would check rental listings too before you commit to buying, but buy if rentals are too expensive or not great houses. My sense is that the significant double-digit suburban NYC home price appreciation since Covid is probably not going to continue much longer, but it's also unlikely to sharply reverse any time soon. As far as a 20yr or longer investment, this house should beat your mortgage rate but (including the effects of big leverage) probably won't beat the Vanguard global stock market index. That's fine. A cautious counterexample would be suburban chicago, where many homes have recently sold cheaper than they did in the 90s (maybe covid reversed that?). If you can find a cheaper home near decent schools, the possibility of investing the extra $50-$100k+ in the market over several decades could be somewhat meaningful but not necessary. You should be able to get to >$1m in stocks within several years after buying your house, and I hope you do that too.
runningwiththeraiders1212 wrote:
That's fine. A cautious counterexample would be suburban chicago, where many homes have recently sold cheaper than they did in the 90s (maybe covid reversed that?).
Nope. It didn’t. Our old neighbor’s house sold for $790k in 1998 and it’s currently listed at $735k and has been sitting on the market for 5 months. Probably has 150k of upgrades in it too from the last 20 years. This is general trend in the entire suburb, especially for higher priced homes. A lot of the CBOT jobs have gone or changed so much. In the late 80s there were so many pit traders and some big tech companies in the area, but now most of the trading jobs are quant based and most of the tech jobs are on the west coast now.
Damn.
Reading this thread makes me think that LR is full of executives and that I made some very poor career choices.
Here I am sitting on a $120K salary (no bonuses) with a wife that makes $115K (with bonuses). We are both in our late 30's with one child.
We live in a house that we bought for $320K (now valued at $450K after renovations and our realtor friend stopped by a for a few beers and gave us this ballpark figure).
I see people buying $1m homes around us and the idea of paying that much for a home is just absolutely terrifying for me. I work in an industry that is notorious for massive hiring and firing sprees (automotive) and I would never feel comfortable buying that expensive of a home.
Congrats to those who can hack it.
I found the perfect house for you.
https://www.bespokerealestate.com/listing/123-saddle-rock-road-stamford-connecticut/
the media is corrupt wrote:
runningwiththetrolls1212 wrote:
How am I rich? If I keep this salary up for 10-20 years, sure. But right now I don't own a home, and have well under a million in net worth. I also have 2 kids, likely a third soon, and am a single income household.
I have a strong INCOME, but have only had it for a short amount of time. That's not being rich in my opinion.
Are you also arguing that due to the financial strain of the pandemic, it would behoove ANYONE in a decent unaffected financial state to NOT ask for advice whatsoever? That logic doesn't make sense to me at all.
It's not like I went to the local welfare line and asked them for advice on buying a 1mm dollar home (that would be rude).
By your logic it would be rude to ask for running advice here (a completely self-serving pursuit by the way), while millions suffer from food insecurity, health issues, and financial strain under the pandemic.
Nice comeback!
The top 1 to 5 percent is rich.
By the way no one has lied to YOU more than your president. Wake up and stop being a fool. Never never never believe the president.
That is obvious to most but you. (And you fool still say the media is corrupt?)
you have no clue wrote:
the media is corrupt wrote:
Nice comeback!
The top 1 to 5 percent is rich.
By the way no one has lied to YOU more than your president. Wake up and stop being a fool. Never never never believe the president-elect.
No worries there!
Dementia Joe is not my president. Resist!