Is ~$3,300 too much in rent? 175k base + 35k bonus. Found a sweet loft in a good area (DMV / DC) but it’s expensive. I know I should probably find a cheaper place but it’s pretty sweet… thoughts?

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Seems like there’s a part of u saying no and u’re seeking validation here. I personally wouldn’t bc I am going for FIRE but everyone’s goals are different. If it makes sense mathematically w ur savings goal, just love it without any guilt

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My current place is a little cheaper but a similar percentage of my income and was also a little bit unnecessary. I went for it knowing it was just a lease and I could try it for a while. I don’t regret it but I definitely realized I’d rather have a smaller/cheaper place and that I wouldn’t want this as a mortgage. I’d say give it a go, life is short, just don‘t sign a super long lease.

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Interesting - are you going to move to a smaller place then? What made it not worth it to you?

That’s what like closer to 9k monthly even after maxing your 401? If you’re SINK with no other obligations go for it

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SINK with car payments, nothing crazy. Think i’d be able to max 401k + IRA and try to keep other expenses low. Feels reasonable but I have friends paying like 1.5k in rent so not sure if i’m just pissing money away. But life is short?

I probably wouldn’t but when I was in SF people on your income were getting 1 bedroom condos for ~4K/month 5 years ago on the same salary. Do you

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Sheesh! That’s rough. What would be your rent threshold on my salary?

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That seems fine.

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Even a crappy 1br is gonna be 2200 so I think this may be good value even if it’s a significant rental payment.

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It’s doable with your finances. The decision would depend on how much you have saved and how much you want to save.

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Doable. But that's a big difference from what your friends are paying. Unless their places are all dumps, it wouldn't be worth it to me.

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Moreso friends who have roommates - this would be my own pad. DC also just crazy expensive which makes me want to move west

Save on rent as much as possible- even if you are a SINK. It is a waste of an expense unless you are saving on commute time and money.

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Truth 🤘🏻 best of luck my friend

Take into account that the rent has a very high potential to go up year after year. (That was my experience in the outer Chicagoland area, and was even more true the closer to downtown you went.) So I would also take that into account. $3,300 with that salary is fine, but if it goes up to 4k or more, would you be okay with that in a year or two? Also, with the economy and extreme volatility of the job market, I would be a bit more cautious at this stage. That salary is great, and you could even set up a low risk savings account to just dump a few months worth of bills into over the next year if you had a place a bit less expensive for 1 year. Then, if you put money aside diligently, you could move to a house/condo as an owner so it becomes an investment instead of just throwing $39,600 (or more) away each year. I’m never going to rent again. Dealing with landlords and stupid neighbours I couldn’t do a dang thing about is not fun. *shrug*

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