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The fun part comes when you put in 20 years doing this, and your dream is to buy a nice house, and you finally get your seven-figure payout, and.... it's not en
by supportengineer 1y ago
The fun part comes when you put in 20 years doing this, and your dream is to buy a nice house, and you finally get your seven-figure payout, and.... it's not enough to buy a house. Because now a house is 3 million dollars.
- kstrauser 1y agoWhat kind of house had you been dreaming of? I live in SF, and even here $3M goes an awfully freaking long way.
- anukin 1y agoMaybe OP wants a house in atherton next to andreessen.
- gcanyon 1y agoI'm guessing it's a very select group of people who want a house next to Andreessen...
- seattle_spring 1y agoIf I had to, I would pay just to live away from that select group.
- supportengineer 1y agoThis is the cheapest house in Atherton at this moment $4.888 https://www.zillow.com/homedetails/86-Rittenhouse-Ave-Atherton-CA-94027/15580217_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare https://www.zillow.com/homedetails/86-Rittenhouse-Ave-Athert...
- BobaFloutist 1y ago$3m is a pretty decent down payment for that.
- supportengineer 1y agoMy point was that you could grind for 20 years and get $1 million payout. Or even a multi million dollar payout. And your reward is that you have to keep on grinding for the rest of your life.
- 0x00000000 1y agoanything within 45 minutes of your office in palo alto (where you are mandated to show up 5 days a week). this will get you a 1300sqft piece of shit built in 1964 with asbestos and lead paint and lead pipes and a cracked foundation (also some dipshit realtor had them paint all the original wood beams and paneling inside gloss white and replace the original wood and slate floors with grey vinyl) from some baby boomer forklift driver or mailman who paid 40k for it (you will pay 40k per year in property taxes for it), all for the privilege of “only” spending an hour of your life a day commuting so you can sit in your assigned area of your open concept office with noise canceling headphones on zoom meetings for 4 hours a day surrounded by other people on zoom meetings who also just expended a collective 5000 man hours and countless CO2 emissions to be there.
- dcow 1y agoI think you just illegally accessed my brain…
- sgerenser 1y agoAnd here I thought I had it bad when houses went from 400k to 800k for the same house pre- vs post-pandemic in Raleigh, NC.
- antonymoose 1y agoI remember being a young junior engineer, my manager had just bought a nice house in the good part of town (Charleston, SC) for about 350k. We had a good “be smart with your money and this could be you too in 5 years” conversation. I think by the time I was ready to buy that house had jumped to 600k valuation, these days it’s close to $1M in valuation. Only way to get a nice house for 300k now is to work remote in some podunk town for a big city salary.
- supportengineer 1y agoAll of this
- kstrauser 1y agoOr you could spend half that in the heart of SF and have a nice place in a decent neighborhood: https://www.zillow.com/homedetails/1265-Union-St-San-Francisco-CA-94109/2101508161_zpid/ https://www.zillow.com/homedetails/1265-Union-St-San-Francis... It's not that it's cheap here, not by any measure, but it's not nearly so dire as y'all want to claim.
- _zoltan_ 1y agofor a standalone house in my area (lakeside near Zurich, Switzerland) you'd pay way more than 3M... apartments go for 2+.
- seattle_spring 1y agoCouldn't you just not live "lakeside"?
- _zoltan_ 1y agoof course that's an option. then you can get a house for a measly 2 million! public transport will only take an hour or more from there .. :) my wife doesn't drive and we wanted to have access to good public schools and good transportation. this is not a given if you go more rural. The postbus goes maybe every hour or so. the lakeside communities near Zurich are great and all of our friends live in one of them (on the same side of the lake of course). not living here would have severe effects on my wife's and our kids' social lives.
- MadDemon 1y agoIntrest rates for morgages in Switzerland are around 1% and for tax reasons most people only pay off a third of their property. The payments are very managable, as long as you have the downpayment. You can't fully compare this with a similar price in the US where interest rates are much higher and people pay off the full morgage.
- _zoltan_ 1y agoYou can pay off your mortgage if you want to. I know several people who did or set it up like that. However then your interest rate is not 1%. The best I've seen is 30 year fixed, where you pay off your house is 2.5%. I'm paying 0.65% right now, thanks to SARON going to 0. It just does not make financial sense to pay it off even if could.
- deleted 1y ago[deleted]
- lotsofpulp 1y ago$3M is this 2,240 sq ft home on a 5k sq ft lot in San Mateo, and as far as house amenities/quality, this is pretty unimpressive. https://www.zillow.com/homedetails/221-Woodbridge-Cir-San-Mateo-CA-94403/15539424_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare https://www.zillow.com/homedetails/221-Woodbridge-Cir-San-Ma...
- chasebank 1y agoI'm in Santa Barbara, CA. Good friend of mine just bought a shithole 3-2 1300sqft for $2.2m. $3M doesn't go very far considering 30 years ago it was retirement status almost anywhere.
- all2 1y agoI could retire on 3 million right now.
- moritonal 1y agoI have to ask, if they have access to get a loan of $2.2m then the friend could likely save for 5-7 years and just retire someplace cheap. Like, spending that much seems wild given the implied access to straight cash.
- bravesoul2 1y agoYeah but let's keep the ponzi going people!
- zeroonetwothree 1y agoBut you can always sell the house later if you want to retire somewhere cheaper. It’s not like you losing the money forever. You do have to pay interest taxes and maintenance, whether that exceeds the rent for an equivalent property is another question.
- Thorrez 1y agoHere's a $2M 4-3 2279sqft very-nice-looking home in Santa Barbara: https://www.zillow.com/homedetails/5436-Agana-Dr-Santa-Barbara-CA-93111/15909690_zpid/ https://www.zillow.com/homedetails/5436-Agana-Dr-Santa-Barba...
- AceJohnny2 1y agoofftopic, but I love comparing realtor glamour shots HDR'd out the wazoo with StreetView https://maps.app.goo.gl/2aEXsdH9hU3o4SZw5 https://maps.app.goo.gl/2aEXsdH9hU3o4SZw5 (winter, March 2012)
- socalgal2 1y ago$3m cash will get you a house that you have to still pay $60k-$100k a year to stay in property tax and maintanence
- bigmattystyles 1y ago$3m mortgage as well
- vkou 1y agoProperty tax rate in SF caps at 1.38%, which would be ~$40,000/year. How are you spending $60,000/year, every year, on maintenance and insurance? Are you saving up for a new solid gold roof for every decade?
- zeroonetwothree 1y agoMy average has been around $30k/yr but my house is worth well under $3m so I could see it being closer to $60k. I do include some remodeling in that figure, but things wear out and you aren’t going to want to live with a decrepit interior in your $3m house…
- charles_f 1y agoThat's still a hefty down-payment.