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You can live comfortably in the bay with $1m, if you don't have to pay rent or mortgage. So $1m + a house.
by ipsum2 8y ago
You can live comfortably in the bay with $1m, if you don't have to pay rent or mortgage. So $1m + a house.
- toomuchtodo 8y agoOr, if you can finance a multi family property and all of the other units cover your mortgage. Disclaimer: Mid 30s, on the FIRE path, tech gig, real estate investor, all that jazz.
- Hydraulix989 8y agoYou still have to pay a chunk of change in property tax and HOA fees every year as homeowner.
- toomuchtodo 8y agoYou shouldn't be buying in an HOA if you're FIRE or living on a fixed income, where someone else sets the annual costs and rules. My property taxes on 2600 sq ft of single family home are ~$3400/year. Still manageable on a $40k/year investment income budget.
- Hydraulix989 8y agoYou're in the Bay Area, and you somehow found a house without HOA here in NIMBY land?!
- toomuchtodo 8y agoWhoops, my apologies. Not in the Bay Area.
- Hydraulix989 8y agoThought those property tax numbers were a bit outrageously low ;)