5 February 2012, 5:08 pm
I am majoring in Marketing/Business. I am very fortunate to receive a very large inheritence. I have enough money for capital to start my own business, a 20% down payment for a home selling for 500k and enough money to pay for my tuition until I graduate. I live in Honolulu, HI and fee simple homes are very expensive but its worth it, property taxes are low and because land is so limited and desirable property values increase at a really fast paste. Homes are also easier to sell in Hawaii. Many people have offered to buy my home even though we are not even considering of selling it. Hawaii is not a business friendly environment so I plan to move to Seattle to start my own business. I have looked at homes for sale in Seattle/Bellevue area and the prices are very similar to Honolulu. I read an article that its actually cheaper to rent in Seattle than to own because taxes for property is really high. Also I am not sure about Seattle's housing market, if its easier to sell a home. People says its better to own but if I use the 20% down payment I have to expand my business, will I be making more money compared to paying a monthly mortgage payment higher than rent, not to mention high property taxes that I will not be able to liquidate when I sell my home. Selling a home is also a hassle. I guess it has to do with timing the market. Back in 1979 my father purchased a home in an upscale neighborhood in Hawaii for 67,000 and now its worth 1.4 million dollars. I am not sure if Seattle has that potential but I am sure Hawaii does.... Read More »
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