I’ve done pretty well in IT since graduating with a Computer Science degree 37 years ago. If I did it over again, I would have chosen HVAC tech. My cabin buddy just sold his HVAC company over a year ago. He built one of the biggest HVAC companies in the Twin Cities. He had over 500 employees when he sold. He is a year younger than me (58). To say he hit it out of the park is an understatement. All the HVAC guys I know make very good money working their day jobs. They can take as many side jobs as they want. They can make bank on the side jobs (not uncommon to make a couple grand on a weekend). I worked masonry growing up and HVAC work is a cake walk compared to masonry.
Wondering if we know the same guy! I don’t know him well, but does his name start with a K and does he have a cabin up on LOTW? If so, he’s great!
Being single and making that should put you in a decent house, depending on where you live. I bought my first house for about $200k when I was single making less than that about 10 years ago.
It’s amazing what 10 years will do. Median sale price in the twin cities was like $240k back in 2013, I think that’s up to like $340k in 2023. Wages have not kept up with that increase in most fields, unless you’re in like cyber security or data science or something.
Not to mention mortgage interest rates are around 8% now, double what they were 10 years ago.
$200k house in 2012 would have had a ~$950 / month mortgage.
$200k house in 2012 would be ~$1,500 / month mortgage.
And that’s before PMI or anything else(which you’d probably have as a first time borrower making $60k).
That’s if you can even find a house for $200k around here. That mortgage discrepancy jumps to $1,000 different per month on a $340k house.
I feel for you Bluegill. My wife and I were ‘able’ to buy a house about 9 years ago, but it’d be a lot harder now. We got a house for ~$280k with <4% interest, and could probably sell our house for $430k today, it’s silly, doesn’t seem like it should be worth that much if you ask me.
It’s not because we worked harder or were smarter or anything, we just had two incomes and were fortunate to have enough money saved up now vs. then.