
Ask HN: Would you consider buying a house now (2017)? - kddtreeaxe
I am first time homebuyer. I am looking to buy a house or condo in Seattle. However, home prices seem extreme for my salary. I work for a tech giant in Seattle&#x2F;Redmond area, but it seems like my salary is not enough. My soon-gonna-be-wife may not work until she gets visa and paperwork sorted out.<p>I am concerned that if I buy and market drops then it will be worrisome situation. On the other hand, prices are going up and up in Seattle. My friends, who bought last year have seen 10% appreciation in prices. Buying in SFBA is out of question for us. We see only high pretax number of tech salaries, but after taxes and retirement account it comes to saving peanuts. I say peanuts because of 10-12 hrs of daily workload and commute. By the time I am home, I am fully drained of energy and dont wish to try anything besides gym.<p>Besides, there is extremely volatility in the market. Equal number of people are vetting for bear and bull market.<p>I am thinking of MBA as well but my company does not pay tuition reimbursement. I wish they did!<p>Then there is hype of ML&#x2F;AI. All in all this whole situation makes me a bit concerned.<p>What are your thoughts on buying home right now?
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hourislate
I don't feel you have to worry about buying a house in Seattle. Prices may be
rising (Chinese money) but Interest rates are favorable. Be careful with a
Condo because it can get pricey with monthly fee's and it's difficult living
with other people. I always feel like a home is a better investment.
Eventually your wife will be working and things should get easier. Homes
require more attention than a Condo but you can save money by doing things
yourself. Cutting the grass, making small improvements, etc.

If the hype of ML/AI comes true then the banks are going to have huge problems
because no one is going to be paying their loans/mortgages anymore. Some
advice to protect yourself. Buy the least expensive house in the most
expensive and desirable neighborhood you can afford.

I'm on my 5th house since 1992 and have never lost money on any of them. I've
actually made out very well.

