Where to live for High Earners Not Rich Yet (HENRYs) in Seattle

[Ashleigh Evans]

All, 

A friend of mine has been living in downtown Seattle with a roommate since 2014. Her roommate is moving out, so she is looking for a new place to live. In my experience, math usually works out so that either renting or buying makes more financial sense. In Seattle, neither is a particularly favorable. 1 bdrms are around 1600-2000, while buying a 1bdrm condo is 350-400K. I’m not sure how to advise. Maybe a 203K loan? She works in Everett, WA. 

[Michael Haas]

@Scott Mac sounds like you're loving those one bed condos with $600 a month HOA dues lol. If you have to rent it after you start a family it'll never ever cash flow, but the good news is you can definitely sell it for a massive profit because real estate always goes up-up-up!

My vote is to househack something in north Seattle, 5+ bedrooms with a second kitchen if possible, but she could also grab a little 2 bed with a room-mate if she can find a good deal on one. The bull market seems to be ending in stocks, I think RE will fare far better with low mortgage rates but I still wouldn't touch more volitile assets like luxury condos with a 5 foot pole.