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Hey guys Please help me decide as a fresher.(2022 grad)
Persistent Systems : 4.71 lpa
Cognizant cts :6.75 lpa
Larsen & Toubro Infotech :6.5 lpa (2 years service bond)
I am tech enthusiastic person and will be pursuing tech career for rest of my life.
Which could be the best option right now? Need to switch to product based asap.
I am thinking of joining cognizant as for 43% hike.
Don't know about work culture, growth etc.
Thanks for help.
Personally I wouldn’t. We got a 1.2M house with a HHI of 450K + stocks and bonuses but felt really house poor for the next year before we adjusted to the new normal. Given human beings are really good at adapting in the long run, now it feels alright though. So, in your case, it may take a bit longer or you getting married to someone with a high income to feel normal 😂
Please don’t do this.
Share your thoughts please.. it will help me make educated decision
Seems too much, but no one knows your expenses but you. Doesn’t seem like you’ll be able to save much.
Same boat.. That’s on my to-do list!
Good work.. take the leap
Personally I would not take this risk on a single salary, but you do you - only you know your near and long term financial goals and budget.
My wife and I make ~240k together and we found it very hard before we convinced ourselves to go for a 800k house. In your case, I’d definitely not recommend going for a 1.3M house. If you are putting for 30%-40% down that’s a different story
Maybe “house poor” is being dramatic - but I have been surprised at just how much we have spent in the first year (or will need to spend) on maintenance and furnishings. Stucco repair, sprinkler repair, window repair (they won’t stay open), new dishwasher, lock repair, radon remediation, etc. Eventually we need roof repair, but we negotiated that into the purchase. All others were surprises we found after living in the house a few months. Then there’s buying the lawn maintenance supplies and other minor fixes - lighting (old, dingy, yellowish bulbs), ladder to swap said lighting… other household tools we didn’t own… etc.
As far as decor, yes, absolutely a nice to have, but we did have three new rooms to furnish. The entire home is hardwood, so we also made many rug purchases to soften it up. Everything adds up. The next year should have far fewer costs.
Did you get pre-approved to this amount?
Also if you got pre-qual for 1.25 why are you bidding 1.3?
The issue is : the prices of the house are really crazy in any good school district area ..
I am stuck - have 3 options:
1. either I continue to rent and burn 25K/annual..
2. Buy a condo (smaller place) - not convenient for a family of 4 (with 2 small kids)
3. Buy an expensive house and save nothing..
^this.
I wouldn't recommend buying it now unless either or both of you find a way to get a pay bump of at least 50%
You have kids?! How will you afford food and expenses?
My vote is no
6x income is a no go