Deciding between $450k condo vs $750k house. Currently live in and will always live in San Diego. $260k TC. Have $100k available for down payment. Don’t want to pay rent anymore. Would you recommend house or condo? House is shabby in up and coming area 30min from beach but 1500sq ft 4 bedroom. Condo is close to beach and 2 bedroom at 800sq ft. HOA fee $200 per month. Travel a lot and ideally can rent place out but not pivotal. Condo and house appreciation are equal over past 10 years

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I made this same decision (also in San Diego) this year and went the condo route. Main driver was quality of life (I know I’ll have more fun being closer to the beach in a great neighborhood), but also figured that with the extra cash I’ll have from the condo choice that I can buy a 2nd property as a rental property in a couple years. If you think you will have a family in the next few years, that might also change things

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Not in SD, but made a similar decision last year. We’re hoping to upsize in ~5 years once we have kids, and rent out the 2 bedroom condo

A shabby $750k house means a lot of money in maintenance and repairs. The purchase price is not your only cost with that house. Also factor in time and how much you want/have to spend on maintaining a home. Condo sounds better unless you have family/kids and need more living space.

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Was thinking this. House will have a lot more maintenance, condo is probably a better option unless you need the space or backyard.

Where at in San Diego? Houses are going for over a mil easy!

Which service line

If you need pricing, I’m a mortgage broker

What’s the HOA like? Many people overlook how big of a pain in the ass a poorly managed association can be. Having owned a condo with a dysfunctional board I will do everything in my power to avoid being in one in the future

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Hi 🐠! I’m relocating from Chicago to The Bay Area later this month, and am wondering what neighborhoods are relatively more affordable and safer to live in. Currently we are considering the following cities:
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*Sealed Classes in Java 17*

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Additional Posts in FIRE Financial Independence Retire Early

Serious question - is there a reverse FIRE strategy? I like the idea of saving and retiring early, but the one hiccup I see (and sorry if this is grim) is if you die earlier than expected. I’d be worried that I would minimize lifestyle and fun for retirement at 50 but I’d die at 49. How about a way to work 9 months out of the year and retire/travel/relax for 3 months? This way you guaranteed your dreams/etc. are fulfilled

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I am 31. I have $750k in assets and 400 in liab. Net worth is 350. Largest assets (excluding real estate) are 120k in 401k, 40k in brokerage, 20k in crypto, 25k cash. Own property totaling $550k (2 condos) but debt of 350k so 200k of my net worth is in real estate. Student loans of 30k. Thread continued 👇🏽

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How much should I have saved solely for real estate investments?

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Got married, bought a house, doing a major remodeling, planning to have a kid… safe to say that I am no longer on track with my FIRE journey 🥲

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I’m buying a home! It’s a little tight but here is my monthly cost breakdown ($9k/mo take home):

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Do people tend to age out of wanting to FIRE?

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But eventually you advance up the ladder, you are now the boss and your people do all the grunt work. You also have built up expertise which makes the job easier. And you are making the best money of your life. FIRE is no longer so pressing.

likesmart

Best way to forecast net worth/future growth?

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I heard someone make a bold statement that contributing to a traditional 401k versus a Roth 401k were the exact same assuming the same tax rate. I ran the numbers and to my surprise they were not wrong (even considering the earnings). Can anyone explain why a Roth would ever make sense given that income will likely be lower and therefore lower tax rate in retirement?

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Always been a fan of FIRE and reading about it has definitely helped my finances but I can’t help but wonder if the movement is more about lifestyle change than early retirement.

After you achieve FI,you basically have to maintain the lifestyle that got you there.

What if you want to go on a lavish vacation or buy that flatscreen TV? Are you supposed to do away with material goods entirely? I suppose you could keep working for discretionary $ and live off interest but then you’re not retired.

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