I disagreed.The biggest risk for the OP is finding themselves ten years from now with higher rent and even more expensive homes. And because homes are leveraged purchases, it’s hard to catch up.
The biggest is to buy the house and then unemployed in the coming recession with both the stock and housing market crashes.
Then, OP has to move elsewhere to find new employment and pay rent at the new location and mortgage at existing house. Depending the length of unemployment and level of under employment of the new job, OP may lose the house and financially destroyed before the economy recover.
"The biggest risk for the OP is finding themselves ten years from now with higher rent"
OP has to survive the next 10 years first before this is a problem.
OP does not have to live in this area to survive. It is a want. Not a need.
KlangFool
Statistics: Posted by KlangFool — Thu Apr 18, 2024 4:21 pm — Replies 52 — Views 3254