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Reply to "$1M home on $157k base compensation?-DC"
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[quote=Anonymous]New developments in DC are at this price point. Currently living in MD and want to move to the city. Some MD new builds are also at the $1M mark. Have $108k for a down payment. Remaining savings after down payment and closing costs will be $128k. I have been looking at homes since February and it seems the longer I wait the more the interest rates increase and builder incentives/inventory go down. As of now, one builder is offering 5.875% for a 30-year fixed. That’s the best I can find. Have been looking for a new job. But there’s little in the way of openings that are a substantive increase in comp/level; I’m in tech and the job market has softened incredibly. I am hoping I can just buy now and my income situation will change in the next year or two. [/quote]
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