FadewayThrow
FadewayThrow OP t1_iug8b8p wrote
Reply to comment by Zootallurs in [UPDATE] Am I screwing myself by taking a job in a high cost of living (HCOL) area? I’ll be closer to family but the current housing market will consume most of the pay difference by FadewayThrow
Total cost of a 30y with APR of 6.7% would be $1,192,430. Monthly payments of $3,065
Total cost of a 15y with APR of 5.8% would be $854,820. Monthly payments of $3,835.
And we would be debt free in 15y vs 30y. Idk $800 a month seems worth it to me
FadewayThrow OP t1_iug7qup wrote
Reply to comment by JaKr8 in [UPDATE] Am I screwing myself by taking a job in a high cost of living (HCOL) area? I’ll be closer to family but the current housing market will consume most of the pay difference by FadewayThrow
I was under the wrong impression about schools. I thought they had public schools at earlier ages but turns out these are public schools that you pay for. So we’ll still need daycare until the kids are school aged. Daycare there is significantly more… Back to the drawing board
FadewayThrow OP t1_iug98za wrote
Reply to comment by ChiSquare1963 in [UPDATE] Am I screwing myself by taking a job in a high cost of living (HCOL) area? I’ll be closer to family but the current housing market will consume most of the pay difference by FadewayThrow
The area is certainly nicer and a better area to raise a family in. I think I would rather have the flexibility of not having a mortgage looming over my head with a 15 year. And at these interest rates, other investment opportunities are going to yield similar results.