At what total comp could you comfortablely afford a decent starter home in Seattle? In the Bay Area?

Gap / Eng randUser
May 25 45 Comments

Asking since I live in the Midwest and I rent currently so I have no clue. Doesn't have to be the biggest house in the best school district. Preferably < 1 hour commute.

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TOP 45 Comments
  • Roku norteking
    Bought my first condo at 115k TC in the Bay Area.
    May 25 13
    • Roku norteking
      I worked through college, saved well after college and put ten percent down payment. Not everyone is as entitled as you are.
      May 26
    • Intel WarenBufet
      10% not 20%? That helps
      May 26
    • Roku norteking
      Yes I put ten percent down.
      May 26
    • Intel WarenBufet
      @Roku I have to say congrats and great job! You showed it can be done :)
      May 27
    • Nutanix maxpayne.
      How much did you buy the house for?
      May 27
  • Facebook bPVY33
    I bought a 2 bed 2 bath condo when my TC was 160. Seattle area.
    May 25 6
    • Facebook bPVY33
      2016, Issaquah
      May 25
    • Microsoft blind1186
      I see. How much did you pay?
      May 25
    • Facebook bPVY33
      260k.
      May 25
    • Microsoft ccmbrwater
      That's pretty low even for 2016
      May 25
    • Facebook bPVY33
      Yeah it was a good deal
      May 25
  • Facebook public2
    Define what starter home means to you? Some folks buy a 500k starter condo. Others first home is a 4m 2500 square foot house.
    May 25 4
    • Gap / Eng randUser
      OP
      Definitely a condo/townhouse or small single family home. 2-3 bedrooms, 1.5-2 bathrooms, small backyard for the dog if it's a townhouse
      May 25
    • Facebook public2
      And location? You've narrowed it to maybe 1.2 to 3m in the bay.
      May 25
    • Cisco / Data
      ohno!

      Cisco Data

      PRE
      Intel Corporation
      ohno!more
      Prices have dropped you can get it under 1 mil in the Bay Area. Just look up Redfin and may be sign up with an agent, and you will find what you need.
      May 26
    • Facebook public2
      Have agents and buy a lot! No desirable area in the bay is under 1m. Appreciation has slowed but is still going up. Maybe east bay or south of palo alto though sure.
      May 26
  • eBay h9
    200k tc would be sufficient to comfortably afford an avg house in no so good school district. Bay Area.
    May 25 2
    • Gap / Eng randUser
      OP
      Really? That's good to hear actually.
      May 25
    • Facebook / Strategy missamber
      What?! That’s insane
      May 25
  • Google əๅɓoo⅁
    Median home price in San Jose is ~1M. 200K TC should be enough to buy one with 200K down.
    May 25 4
    • Intel WarenBufet
      Excuse me, how long does it take you to save 200k cash?
      May 26
    • Google əๅɓoo⅁
      3-5 years? Depends on how much you spend.
      May 26
    • Cisco fckl
      You should aim to save $200k in 3 years or less. 5 years is a bit too high.
      May 27
    • Intel WarenBufet
      3 yrs save 200k is not easy in the Bay Area if you make <300k.
      May 27
  • Microsoft mrferriss
    So many variables. Use Redfin or Zillow, map out the places you see near where you want to live or close to work. Figure out how much your expenses are, how much you want to save then multiple by 1.3 for taxes then that’s the total comp. I should really ask this question on an interview and see if people can do math.
    May 25 0
  • Google
    AIMLOK

    Google

    BIO
    I once served 5TB
    AIMLOKmore
    Expect to spend around $500k to start (Seattle)
    May 25 4
    • LinkedIn worangelo
      In Bay Area I don’t think you can find anything under $1M anymore.
      May 25
    • Roku norteking
      Not true. You can definitely find condos less than one million in South Bay
      May 25
    • Google
      AIMLOK

      Google

      BIO
      I once served 5TB
      AIMLOKmore
      $1 million condos in Bay Area South Bay... lol for how sad that is
      May 25
    • Square / Eng SQ
      You can find some stuff that's a lot cheaper as either TIC or right of first refusal.
      May 25
  • For how many people?
    May 25 1
    • Gap / Eng randUser
      OP
      Haha 2 and a dog
      May 25
  • Google
    EIon Musk

    Google

    PRE
    Amazon
    BIO
    TesIa CEO
    EIon Muskmore
    I’d try Redfin for this one since it’s more up to date
    May 25 0
  • Microsoft yesterda
    Tree tousand
    May 25 1