3 relocation options! Please help me decide :( (Seattle, Tacoma: rental market, condo, mortgage)

[guylocke]

they realize as a company that they have to do something extreme to make young newly grads stay there!!

That's not necessarily true. In the case of Vancouver, it is a growing area and supply can't meet demand at the moment.

I would rather have a few dollars less to spend then sit somewhere for "years" that made me question my decision.

Very good point.. I wish the contract in Vancouver was only for 2 years, I would be more comfortable with that.

Otherwise take Seattle - rent a nice place and payoff your loans. Tons of spots for you here and close by the city.

Are there nice, little, places in the city that are below $1000 per month? I would just need a 1 bedroom, 1 bath, but would really like something a little trendy and not some hell hole. LOL

I bet you'll love it - you make a bunch and you don't have kids - and you are single.

Actually, I am not single and we will both be relocating. Combined we will make about 175k without children. I realize that seems like a lot of money, but then I get some of your locals tell me "eh, it's a good bit of money, but there will always be those techie guys that make a lot more and really you'd still only be living comfortably."

Bleh..

[jwb123]

As a new grad, I would think "living comfortably" right off the bat would be pretty attractive, not "bleh". Realize that $175k is a good living and stop worrying about the other people who will be making more than you. There will always be someone making more than you.

[jwb123]

I bet there are tons of people right now considering their relocation options, and none are as attractive as your THREE REALLY GOOD OFFERS. You are pretty smug about your good fortune, so you will likely fit right in with the rest of Seattle.

[guylocke]

You are pretty smug about your good fortune, so you will likely fit right in with the rest of Seattle.

lol, actually I'm quite down-to-earth, but it took a lot of blood, sweat, and tears to get where I am, so to speak. Without sounding too smug, I didn't work that hard and go to school that long to live just "comfortably." So good fortune? Sure. But trust me, it didn't just fall into my lap and I've earned every cent.

I was just a bit disappointed to hear that after all that, in Seattle, we might only be living average. Where I am from right now, we'd be living quite high and large, and that doesn't mean we are snotty. We aren't extravagant what-so-ever, we just own average but new cars, want to own a little condo in a trendy building, and I like a bargain just as much as the next person! We just want to have enough money to travel. I love traveling all over the globe, and it's quite expensive, but we're young, and want to see the entire world. And I even plan, and have already started, giving a lot my money away to people who need it more than me.

I think you'd be quite surprised how generous and grounded I am, so I'm not sure where you get smug, but I'm sorry you feel that way.

Still, thank you for the advice.

[chaz longue]

If I couldn't live in Burlington VT. ...
- I'd rather live in Vancouver than Seattle, but perhaps that's just because I value specific attributes that aren't easily found elsewhere. So I'd be happy to have the choice you pose...3 years passes quickly.

[ness]

Originally Posted by boylocke

lol, actually I'm quite down-to-earth, but it took a lot of blood, sweat, and tears to get where I am, so to speak. Without sounding too smug, I didn't work that hard and go to school that long to live just "comfortably." So good fortune? Sure. But trust me, it didn't just fall into my lap and I've earned every cent.

I was just a bit disappointed to hear that after all that, in Seattle, we might only be living average. Where I am from right now, we'd be living quite high and large, and that doesn't mean we are snotty. We aren't extravagant what-so-ever, we just own average but new cars, want to own a little condo in a trendy building, and I like a bargain just as much as the next person! We just want to have enough money to travel. I love traveling all over the globe, and it's quite expensive, but we're young, and want to see the entire world. And I even plan, and have already started, giving a lot my money away to people who need it more than me.

I think you'd be quite surprised how generous and grounded I am, so I'm not sure where you get smug, but I'm sorry you feel that way.

Still, thank you for the advice.

I think I'm starting to "get" you. I would visit and check out your options and decide where you feel the most excited about. I've bought a lot of real estate and the location is way more important than granite countertops (now passe) and double sinks. With your income you should be able to get a nice condo in the places you mentioned and still travel. DH and I manage to pay interest and principle on a 350,000 mortgage and still travel a couple times a year on a combined income of $60,000 a year.....and we live in southern california (translation: SUPER expensive). You'll be fine.

[guylocke]

DH and I manage to pay interest and principle on a 350,000 mortgage and still travel a couple times a year on a combined income of $60,000 a year.....and we live in southern california (translation: SUPER expensive). You'll be fine.

Great!! That really makes me feel better! We were hoping not to spend more than $450,000 on a condo downtown. A general rule of thumb is to not exceed 2.5X your total combined income, but if what you said is true, I imagine we can go a bit higher.

[ness]

Originally Posted by boylocke

Great!! That really makes me feel better! We were hoping not to spend more than $450,000 on a condo downtown. A general rule of thumb is to not exceed 2.5X your total combined income, but if what you said is true, I imagine we can go a bit higher.

Just make sure that you get a good loan. It is only reason we aren't struggling like all our friends who got into ARMs and interest only deals that seemed so appealing at first. We are a 30 year fixed with 10 year interest only option for the first ten years (so that we can pay a little less some months if we have to b/c my income fluctuates) at 6.375%. Our basic breakdown is:
Mortgage - 2,400
Utilities - 500
groceries - 200
insurance - 300
taxes - 200
misc - 200

we own our cars etc. and don't trade up every few years like so many do in our area....and i actually cook (gasp).

I'd rather own and pay more for housing and live someplace that has a great location than rent and have a lot of disposable income. On the reverse of us we have friends that make $110,000+ and have to rent b/c their combined car payments and monthly bar tabs about equal our mortgage!!!! Yikes!!!

It's all about how you choose to spend your money.

[guylocke]

Mortgage - 2,400

You pay this for a 350,000 property? Did you put much money down?

[ness]

Originally Posted by boylocke

You pay this for a 350,000 property? Did you put much money down?

We don't live in a 350,000 property. Our mortgage is for 350,000. Our property is worth $650,000+, but we bought it from a family member for $350,000 with no down (it was sort of a refi but into our names). In our neighborhood $350,000 will get you a studio apt. in the worst part of town if your lucky.