Appreciation and Long Term Investing Illinois vs Washington state
Looking to buy a single family home or duplex in north central Illinois or in Washington state. Advantages to Illinois include more affordable home values, lower mortgage payments, cheaper cost of living, closer to family/friends.
I make 30-40k a year from seasonal jobs as a restaurant server. 2020 has been a bad year for the hospitality industry, but I have hope that by the summer and next fall the industry will start to recover. If it doesn't I will try to find a job where I an make at least $20 an hour. I have 20k set aside for the downpayment, fees, and basic repairs and cosmetic work. 750 credit score.
My big decision is where to buy my first property? Should I buy in Illinois where my monthly payment will be lower, and I can house hack a single family or duplex? Or should I buy a single family in Washington state, where I will be working and want to live on a more permanent basis? It also looks like the long term appreciation might be more in than in central Illinois.
What do you all think?
Thanks
John