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Inflation will wipe out that cash though. Honestly, it's hard to give advice since it's so specific to the region and job market, etc. Like many US engineers
by nivenkos 5y ago
Inflation will wipe out that cash though.
Honestly, it's hard to give advice since it's so specific to the region and job market, etc.
Like many US engineers can easily afford to buy a house outright with $200k+ salaries, that isn't possible as often in Europe or Asia for example.
But basically do what you can to get fixed costs that you know you can afford and stability - i.e. a fixed rate mortgage, fixed rate utilities, and trade union membership and unemployment insurance, etc.
- nradov 5y agoThere are very few US engineers who can afford to buy a house outright. The ones making $200K+ salaries are mostly in HCOL areas where houses are very expensive. And the ones who can afford to buy outright are usually doing so based on equity gains, not salaries.
- jjav 5y ago> Like many US engineers can easily afford to buy a house outright with $200k+ salaries That's about 100K after taxes + medical (not included in taxes in the US) and other deductions. With houses in good markets far above $1M, nobody making $100K net is buying a house outright. Or even being able to buy a house at all.