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Out of curiosity, homeowners, would you recommend it for someone young who hasn't settled down yet, assuming you could pay off the mortgage fairly quickly? Is
by singhrac 6y ago
Out of curiosity, homeowners, would you recommend it for someone young who hasn't settled down yet, assuming you could pay off the mortgage fairly quickly?
Is there a lot of hassle in renting out an apartment using a broker, is hiring a property manager difficult, are there are surprising fees that make it a bad investment?
- toomuchtodo 6y agoIf you’re not overpaying first the property, absolutely. Renting gives you flexibility, but do you need it if you can work remote? Owning gives you control over the property, and allows you (instead of your landlord) to capture any future appreciation.
- 0xy 6y agoThe engineers who think this will enable them to live in North Dakota for $600/month rent and earn FAANG money are delusional. Even adjusting for cost of living you're going to get screwed in negotiations. Owning a property when you're young is a liability in that it prevents you seeking opportunities which may dramatically boost your career and income.
- toomuchtodo 6y agoNot everyone wants to work for a FAANG, whether due to geography, career goals, skill set, or ethics.
- 0xy 6y agoWhen I said "FAANG money" I really just meant Bay Area tier compensation. Obviously FAANG are in a class of their own but even startup salaries are inflated compared to anywhere else. But $200k for a fresh grad isn't going to happen anywhere other than the Bay Area. Companies only pay that due to insane competition and cost of living. Why pay $200k for a fresh grad in North Dakota when they could get four equivalent skilled people for the same price?