I'm ready to buy my first house - advice appreciated

[FkLA]

lol 55k

[GoodOdor]

lol 55k

lol telemarketer

[pawe]

55k is not too bad. It can qualify you for a 230k house. No shopping for the wife for the rest of her life though so that means his life will be miserable from now.
At least he has a house. lol

[Blake]

I was counting on the bubble to keep steady for at least a few years, tech companies are still hiring like crazy around here. I could always rent it instead of selling if I see that

I can't recover the costs though, no? then sell once I have enough equity in it to turn a little profit.

No, because that first three to five years you're pretty much paying interest up front with practically nothing towards the principal.

[GoodOdor]

No, because that first three to five years you're pretty much paying interest up front with practically nothing towards the principal.

At least that is tax deductible though - and I qualified for a program that gives me 15% back as a tax credit.

Still better than paying rent any way you look at it, no?

[tlongII]

Fixed rate loan.

[Blake]

At least that is tax deductible though - and I qualified for a program that gives me 15% back as a tax credit.

Still better than paying rent any way you look at it, no?

If you're only there 3-5 years, I don't think so, but that's my opinion.

[Spurs9]

You are trying to get a place for less than 250k in SF???...where
I would go out there every 3 months for work and it's ridiculously expensive. You also have income tax and other re ed taxes in SF. Try to live below your means and completely ignore the constant pull of so item to keep up with the jones. I don't understand the people in here trying to judge someone based on salary or job. After you pass a certain amount salary wise your life doesn't exponentially get that much better. People will get a 6 figure salary and then think they are making it and then end up with a house that pushes the budget to give off the image they made it or "buy" a new luxury car that makes them slaves to debt and paycheck to paycheck. I've worked my way up to 6 figure salary at 25 with no college degree but I live like I make 30k and keep a 10 year old car. If you make enough to live happily, save some and not be in mountains of debt who cares what these clowns think?