I am a single software developer living in the denver area and I make roughly 87k a year…. I am currently saving 10% in my 401k 5% roth, 5% with company match in traditional one although I'd like to be saving more.

I have been using my spare income and saving to a money market in hopes of finding a house. (roughly 1k a month)

I now have 40k for a down payment and I see that I can find certain liveable houses 3 beds 2 baths for just under 350k. So that's like 12% down….

Take home pay is 4,398 per month. and the mortgage for most places I see (that would fit 2 adults comfortably) are 2,638 a month?

I will have PMI for the first few years doing this and while I know this will stretch me thin, I also know my career as a software developer will grow and I'll make more money. So that's why I was thinking I can rent out a bedroom and a bathroom to start until I get more grounded, while at the same time sealing the deal on a price, and invest rooommates income.

It feels like a solid plan, but it's scary.

And who knows, maybe later on I'll find a lovely woman to share the mortgage with me?

Would you guys feel safe doing this? Would you think i should save more in this current economy or should I go for it? (denver market has been so wild lately, rumors are that values will deflate, but they are always just rumors)

submitted by /u/jakeweb092
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