Seattle is really pricy. I am the sole breadwinner for the household (1kid). I make $325K a year, but I don’t feel like I can afford a house.Thinking to move back to Texas, but the company doesn’t support relocation….wonder who are those people affording the house in Seattle….

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I feel the same and we make $500k HHI. To be fair, I want to be in a neighborhood with good public schools, have a yard and a garage. In this city that’s only for the truly wealthy - coming from Philly it’s been a hard pill to swallow.

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My partner and I make around $260k together and was able to afford over a $1m home just around a year ago, so interest rates were pretty high still.

Think it’s all about making things work and taking a look at your budget to see where you are spending to much.

likesmart

Are you paying for childcare? Did you have help with the down payment? Do you have employer assisted rates or similar? At today’s interest rates that can be a mortgage payment over $7500 a month – which does not leave room for much else with 260K income.

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Bruh. $325k and you can’t figure it out?

likefunny

We're gonna need OP to post a breakdown of their budget here. I refuse to believe that even someone making that much money can't afford to own a home. If this is true, then we are well and truly f*cked as a society lol

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With the current interest rate, I can’t image how much you have to make a month to afford a single family house …………

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Same, VP. However, I was also making slightly less than 1/3 of what he makes when I bought my condo.

Nope they are correct. To buy a SFH now that is 2000sq + garage require 400k+ HHI. I make what you make but fiance makes 160k so we bought 1.1M house. Tbh, partner has to work there is no alternative on the west coast, must have dual income

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Median SFH is 1M, and most below 850 aren’t in live able condition I.e need at least 50k of work meaning you might as well buy the 1M house. Fact is, both spouses need to work in this generation it just doesn’t work as a sole breadwinner, cause even 300k don’t cut it out here

Wife and I make $425k, we have a $350k (bought at $190k) condo back in RI that I rent out, we have a $625k townhome (bought at $525k that’ll we are planning to rent out) and we just bought a $850k house, it’s manageable, you have to take a hard look at your budget. do you have 2 car payments? We have a paid off Subaru Forester and paid off Toyota Camry XSE, that saves a ton of money

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We afforded the down payment thanks to my wife’s Amazon stock. Salary-wise together we make around what you do.

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The only realistic option for most folks to own a home is to live south of Seattle and take the Sounder in.

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Move to Mississippi or Alabama. Cheaper than Texas! Texas cities are getting expensive.

smartfunny

I bought a condo making less than $100k a year in 2021.

It can be done.

likeuplifting

$325K and you can’t make it? Really? Yes, Seattle is very expensive but have you seriously looked at your budget and cut out the unnecessary things? We make half that amount and own a home! In the big scheme of your financial life even paying for your move yourself, Texas maybe a wise move if you like what Texas has to offer comparatively. Good luck.

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Move to Texas! You’ll be happier

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At least he’ll stop whining here…

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I make 150K a year, and purchased a 450k home, in Bremerton. I have 2.1 interest rate.
Out of curiosity what is your occupation that you make 325K?

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People here are flaming you but it really comes down to the style of life you desire for yourself and your family. You can afford a home, it's probably just not as nice of one or in the locations you want. No shame in that. If you want a larger SFH either in the city or in one of the closer suburbs, with interest rates that they are, it's expensive. $1MM does not buy you a lot of home, and while "nice" is subjective, it is what it is to you and nobody else. Add in childcare, car payments, utilities (electricity is wild), and whatever else you want and it adds up fast.

My spouse and I make $500k+ annually with two kids and bought a 1.3MM home at mid 5% last year after renting for years. And while we're comfortable and "blessed" we're certainly not buying boats.

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Are you living in city of Seattle or open to living in the suburbs / outside the city? I feel like that plays such a huge factor

lol someone out here calling Kent the Seattle suburbs I’m dying 💀😂

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I make $125k and make owning a home work no problem.

When did you buy and what is your interest rate?

The median home price in Seattle is around 800 K now. With kids it really depends on where you want to live. We moved here 10 years ago and everyone that we know that moved to Seattle proper put their kids in private school to get good schools. That adds to the price of what you need to make. The median home price in Bellevue is at 1.4 million right now. Excellent school though we moved here from California and it was like getting an immediate raise because we were able to put our kids in private school by choosing Bellevue. That being said, the interest rates were much lower. We had a large down payment as it was not our first house. Since then, our prices have tripled and we are trying to sell our house to move to less expensive market just because it’s nice now to not need the schools anymore and have virtually no mortgage. I feel your pain. Someone mentioned Renton and Kent much less expensive but then there’s the schools issue. it also depends on what you’re looking for. Some people are OK with fixer uppers and some people are not all depends on what you used to and where you’re coming from the median home Price in Kent is around 690.
(There are two of us, one Google one Microsoft, TC combined near 700)

That was me (been living in Kent for 8 years), and I had pointed out that since I don’t have children, schools are not a factor for me.

I get it that for people with means and children won’t move here, but it’s still frustrating to see that the children in my neighborhood are getting shortchanged like this.

You make325,000 a year? What in the world do you have to have in your house that this upper escelon salarary has to have? For the vast majority of people, they don’t command this sort of income and many still have houses. Do you have any idea how arrogant and selfish your question seems. I recommend you consider some self assessment of how you are showing up in the world.

This. Our household income is 500 K plus and we are extremely house poor having bought a single-family home in the last year. We are also paying daycare for three kids, which is as much as a mortgage.

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