Skip to main content

Am I being insane spending this much in VHCOL area? Or is this just what it is?

Relocating cross country to a VHCOL area for a new job, my wife and I were informed one of our friends in the area has a neighbor with a home coming up soon. This house looks beautiful, my friend has been in it numerous times and says he knows how much work the guy put in bringing it up to this state. It's in the exact area we want to live with great schools and safe neighborhoods. The neighbor is interested in a direct sale so he doesn't have to deal with open houses and such. They already have had it pre inspected with no issues and are willing to share the report if we go under contract.

That said, it also would be 4500/mo for me, twice what im currently paying on my house. My wife and I will be making 210kish (not counting my bonus) so mathematically we will be fine, but it still seems insane to throw so much at a house. There are other areas nearby we could get in at 3.5k, but the schools aren't near as good, or crime is higher.

Is this a case where I shouldn't overthink our good fortune and buy it? We intend to never move from this house. We have multiple friends in the area. Multiple job prospects were something to go wrong.

submitted by /u/Faustus2425
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/wy7d5j/am_i_being_insane_spending_this_much_in_vhcol/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more

Making offers on houses not listed for sale.

I want to buy a home for retirement. I am looking at lots of options, mostly focusing on the locations that appeal to me. I see lots of Zillow estimates of homes that look like great deals to me. Are these estimates accurate, even though similar houses in the same area that are for sale are usually priced much higher? If so, is it realistic for me to try to make offers to owners that do not have their homes listed? Would a realtor even consider helping me do this? Or, do these values indicate that the houses listed for sale are overpriced, and I should just lowball until someone accepts? Are houses today tending to sell far below list prices, or ??? submitted by /u/chewybrian [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1o4mcon/making_offers_on_houses_not_listed_for_sale/
Post a Comment
Read more