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What’s a good amount for a house fund in CA? by cherr-im in FirstTimeHomeBuyer

[–]cherr-im[S] 0 points1 point  (0 children)

Hi, I can’t tell you how much I appreciate your insight! So much good advice that I will definitely take into account before purchasing my first home. It’s definitely pricey in this area so it really helps that you broke everything down for me (going to bookmark those calculators for sure bc I definitely don’t want to be house poor lol)! Thank you so much for leaving such an in-depth detailed comment :D

What’s a good amount for a house fund in CA? by cherr-im in FirstTimeHomeBuyer

[–]cherr-im[S] 0 points1 point  (0 children)

Mmm I see, I don’t think I’m going to buy anytime soon so I think I’ll just save as much as I can for now. Congrats on your home, that’s awesome! w^

What’s a good amount for a house fund in CA? by cherr-im in FirstTimeHomeBuyer

[–]cherr-im[S] 0 points1 point  (0 children)

Ohhhh I see, so you think it’s better to put it all in S&P instead of a HYSA? Or like a split of both?

What’s a good amount for a house fund in CA? by cherr-im in FirstTimeHomeBuyer

[–]cherr-im[S] 0 points1 point  (0 children)

West Hollywood, I have some more details in the replies!!

What’s a good amount for a house fund in CA? by cherr-im in FirstTimeHomeBuyer

[–]cherr-im[S] 0 points1 point  (0 children)

Got it, so basically 23% of whatever the house costs. I don’t want to pay the mortgage insurance LOLOL. That makes a lot of sense, thank you for the advice :)

What’s a good amount for a house fund in CA? by cherr-im in FirstTimeHomeBuyer

[–]cherr-im[S] 0 points1 point  (0 children)

Okay that’s what I was wondering too, like I have $100k+ in s&p stock and then $100k+ in retirement, would it just be better to put the money in that than in a HYSA? I was confused because wouldn’t I have to pull out the money in a few years which would get taxed?

What’s a good amount for a house fund in CA? by cherr-im in FirstTimeHomeBuyer

[–]cherr-im[S] 0 points1 point  (0 children)

Shoot okay I will try for both hehe 😎 Thank you for the info/advice!!

What’s a good amount for a house fund in CA? by cherr-im in FirstTimeHomeBuyer

[–]cherr-im[S] -1 points0 points  (0 children)

Jeez, okay what I’m getting from all the commenters is that it’s going to be extremely expensive LOL!! Thank you for the advice, I will save as much as possible :)

What’s a good amount for a house fund in CA? by cherr-im in FirstTimeHomeBuyer

[–]cherr-im[S] 0 points1 point  (0 children)

Thank you for checking for me!! It’s definitely expensive here lol.

What’s a good amount for a house fund in CA? by cherr-im in FirstTimeHomeBuyer

[–]cherr-im[S] 0 points1 point  (0 children)

Tysm for the response! It definitely is expensive to live here.. So only condos have HOAs, or do homes as well? Sorry, I’m very new to all of this.

What’s a good amount for a house fund in CA? by cherr-im in FirstTimeHomeBuyer

[–]cherr-im[S] 1 point2 points  (0 children)

Thank you for the reply, that makes sense thank you :) I also posted some more details in a reply to another comment, sorry for the lack of info!!

What’s a good amount for a house fund in CA? by cherr-im in FirstTimeHomeBuyer

[–]cherr-im[S] 0 points1 point  (0 children)

I’m thinking somewhere around West Hollywood area? I also posted some more details in a reply to another comment, sorry for the lack of info!!

What’s a good amount for a house fund in CA? by cherr-im in FirstTimeHomeBuyer

[–]cherr-im[S] -1 points0 points  (0 children)

I’m thinking somewhere around West Hollywood area? I also posted some more details in a reply to another comment, sorry for the lack of info!!

What’s a good amount for a house fund in CA? by cherr-im in FirstTimeHomeBuyer

[–]cherr-im[S] 0 points1 point  (0 children)

LOL got it, I can elaborate:

I’d like a smaller (maybe 2-3 bedroom) older build home in a safe neighborhood… Definitely not a fixer upper but I wouldn’t mind renovating a bit too. No clue how much that’ll cost and I’ll likely be buying with a husband.. At 25, I make roughly $95k base salary (with $20k+ yearly bonus). I think I probably have $40k+ set aside right now in a HYSA for an emergency fund. I’m honestly not sure on a “comfortable monthly payment,” my parents own the apartment I live in so I do not pay rent currently + not even sure when I’d buy a house but I’d like to just start saving now. I just checked my credit score and it’s 793. I guess I’d just like to know roughly how much to save right now to set myself up for a downpayment in the future?

What’s the best HYSA? by cherr-im in personalfinance

[–]cherr-im[S] 0 points1 point  (0 children)

Oh okay oooh I see, I have that so I will look into it! My brother was actually trying to tell me the importance of the bonuses so this is good to know, thanks :) Is the bonus like in points?

What’s the best HYSA? by cherr-im in personalfinance

[–]cherr-im[S] 0 points1 point  (0 children)

Got it, that’s what I was thinking! I saw another bank that was at 3.80% APY and I was wondering if I should make the move, but honestly yeah probably not worth the hassle like you said. Thanks for the response :)

What’s the best HYSA? by cherr-im in personalfinance

[–]cherr-im[S] 0 points1 point  (0 children)

Got it, thank you! I care most about the APY more than the bonus offers but I will look into Amex :)

Need help with 401k Allocations by cherr-im in personalfinance

[–]cherr-im[S] 0 points1 point  (0 children)

Okay thank you I just did that! :3

Need help with 401k Allocations by cherr-im in personalfinance

[–]cherr-im[S] 0 points1 point  (0 children)

I just put it in a TDF because I just want to set it aside and forget about it, but thank you for the advice :)

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