One of my goals is to eventually be able to purchase a house. Many of my nursing colleagues are purchasing homes that are worth $450,000, $500,000 or even more. Sadly, my budget is about half of that or even less, which means the houses I have to choose from are not appealing. Most of them are small, old, or both.
I am just curious how other nurses manage to purchase decent houses? I've been looking through my income, and I just can't find a way to make it possible to incorporate such a house into my budget. I am salary, so there are no opportunities for overtime.
What are other nurses' experience with buying houses? How did you make it work? Did it require switching jobs? Inquiring minds want to know!
I think that’s extremely short-sighted, not necessarily true and more reflective of your own insecurities.
Personally, my “symbol” of success is the memories I’m making with good friends and family in my old, small home.
Success is never having to stress out over money. No one worth knowing is impressed with a big house. My hubby had to work in LA or NYC. We both grew up in NY and stayed there for careers. When retired, our property taxes were over $1,200/ month...yes, per month. Schools were excellent. But most of us have to leave after retirement and I'm sorry that we couldn't save more so I could have left work a few years earlier. We are so less stressed now because we paid cash for or last three houses. Being mortgage free after age 50 was a great gift to ourselves.
Renting can make sense. For example we rent for $1800.00 per month. Even if we qualified for a mortgage (we don't) the payments on a home near Disney (where we live) would likely run in excess of $2,500 per month no accounting for upkeep and maintenance. Thus, some like myself might be better off putting more money toward paying down my 160K in student loan debt and 30K in credit card debt rather than on a house. Also, we still are not sure if we want to live in Wyoming, Hawaii or to remain in Florida.
Seriously, find a nursing job in San Francisco, in one of the top 5 big Hospitals in San Francisco. But let me tell you, it is ALSO dependent if your partner also happens to be an RN or is in the Tech Industry and is also working for one of the Giant Tech Companies in San Francisco, this can get you to own a House In San Francisco.
AND On top of being able to afford a 1.2 million dollar house in SF.
Rest assured you and your partner can still buy 2 houses, as a matter of fact, up to 4 houses in States such as Oklahoma, Texas, Arizona, And Florida, as investments if you Both have a high paying job in San Francisco. Sounds impossible? Nope!
The Bay Area Pays The Most When it Comes to Nursing Jobs or For Computer/Software Engineers.
I’m drinking my diet Coke from a Vending Machine! Cheers!
I don't mean for this to be patronizing and I apologize if it offends anyone.
Everyone seems to be working very hard but do you guys ever just splurge on an experience that you will remember for the rest of your life? I'm lucky to have wealthy parents who have wealthy clients who have exposed me to a certain way of life that not many experience. Maybe they do, but I get the impression from the posters that lots of people seems to be frequently struggling with money issues. Again I apologize if my impression is wrong.
People might think this is indulgent, but I see it as blowing off steam. I took a nurse to a Coldplay concert last year before the pandemic was full blown. It was a few hours away from me. My father has the use of a corporate jet from Atlantic Aviation from one of his clients but he has to pay for the pilots. It really isn't that expensive if more than a few people are using the jet and the time you save plus there's no airport hassle is worth it.
So I booked a limo service and we were picked up and I had called ahead with the tail number so we were driven up to the plane. Anyway we did the concert and after having a great meal we flew back. According to her, she never knew that people lived like that or such things existed. My point is that she had an experience of her life and it was money well spent. Maybe this is common practice for other posters but she was amazed. That's why you work hard so you can facilitate unique experiences. That's why I work hard. I want what I see my father's clients, experience. I like being picked up by a limo driver at the airport who gets my luggage and a hundred feet from the carousel I step into a luxury vehicle and be taken to a nice hotel with a competent concierge who knows where to get great game or concert tickets or a seat in a good restaurant. I like the Four Seasons or the Waldorf and being chauffeured to see Hamilton and I am willing to pay for it to have a hassle free day. It can make or break your day if you reduce your stress levels.
Again I apologize if this is patronizing but it makes no sense to me working hard if you are not going to enjoy the fruits of your labor. There's a big world out there with lots of great experiences but you have to spend to enjoy them sometimes. And sometimes one brilliant day is better than two weeks of a scrambled, stressful vacation and they probably cost the same!
Most new homes are built with the disposable/replaceable attitude. Old homes were built to last, and generally need just a little upkeep to keep them livable
I disagree. Old houses can be money pits. Something almost always breaks,and constant updating. Rusted pipes,needing to replace a 60 year old broiler,needing to add ducts for central air,etc. That all ads up.
Specializes in Nurse Leader specializing in Labor & Delivery.
6 hours ago, Curious1997 said:
I'm lucky to have wealthy parents who have wealthy clients who have exposed me to a certain way of life that not many experience. <snip> My father has the use of a corporate jet from Atlantic Aviation from one of his clients but he has to pay for the pilots.
I disagree. Old houses can be money pits. Something almost always breaks,and constant updating. Rusted pipes,needing to replace a 60 year old broiler,needing to add ducts for central air,etc. That all ads up.
While they certainly have their pitfalls what you described isn't at all isolated to old houses. The average life-span of new home systems is about 20 years. So, furnaces and AC need to be replaced as well as hot water systems and roofs even in newer homes. Sure, plumbing sometimes needs updated but, frankly, that's a pretty straightforward, one-time (albeit dirty) job easily achievable by most. Same with electric. Having AC is a choice. I don't have it in mine and I'm not dead yet. The trade off is quality woodwork, durable plaster walls, practically indestructible hardwood floors, beautiful windows and usually very nice, walkable neighborhoods. Preventative maintenance goes a very long way to ward off constant repairs. Old-house ownership isn't for everybody but you make it sound like it's horrible and it isn't.
Specializes in Psych (25 years), Medical (15 years).
11 hours ago, Curious1997 said:
I apologize if it offends anyone.
Everyone seems to be working very hard but do you guys ever just splurge on an experience that you will remember for the rest of your life?
We accept your apology, Curious, but we need to remind you to stay on topic.
We are asking questions, sharing our experience, and networking with licensed nurses about how to afford $450,000 homes and we are not asking questions, sharing our experience, and networking with licensed nurses about splurging on an experience that we will remember for the rest of our lives!
Now, if you desire to ask questions, share your experience, and network with licensed nurses about splurging on an experience that we will remember for the rest of our lives, start a new topic.
I disagree. Old houses can be money pits. Something almost always breaks,and constant updating. Rusted pipes,needing to replace a 60 year old broiler,needing to add ducts for central air,etc. That all ads up.
It depends. Those houses are still standing though. Nowadays many new homes are built with many corners cut, and pvc pipes that rupture or not connected correctly, etc. The costs are astounding in either case. The expectation being newer home, should not have happened
Subee2, BSN, MSN, CRNA
308 Posts
Success is never having to stress out over money. No one worth knowing is impressed with a big house. My hubby had to work in LA or NYC. We both grew up in NY and stayed there for careers. When retired, our property taxes were over $1,200/ month...yes, per month. Schools were excellent. But most of us have to leave after retirement and I'm sorry that we couldn't save more so I could have left work a few years earlier. We are so less stressed now because we paid cash for or last three houses. Being mortgage free after age 50 was a great gift to ourselves.