Housing

Buy a 2x2 condo for $500k in SJ or a 1.5 mil 3x2 house?

Apple laksjhshe
Jan 6

Buy 2 bed 2 bath condo or 3 bed 2 bath house?

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  • Amazon awssdm
    Why choose? Get both
    Jan 60
  • Cisco Infensus
    Buy a condom be safe
    Jan 60
  • Microsoft Mrktwhspr
    Buy 5x4 instead for 7.5 mil.
    Jan 60
  • Amazon
    Dkdnejskdn

    Amazon

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    I love Rocket.
    Dkdnejskdnmore
    3x2 house has some appreciation potential, but 2x2 solves the problem with 1/3 price
    Jan 63
    • Roku Mixi
      I flipped a 2x2 for 200k profit
      Jan 6
    • New Rob1729
      That time is over now
      Jan 6
    • Yahoo Strep
      I held onto a 2x1.5 for 7 years only and sold for 300k profit. I love condos
      Jan 6
  • Intel &&-9jj
    Or rent a 2x2 for $4K/month. Don’t ever buy before you have kids.
    Jan 67
    • Facebook public2
      Don't ever buy before you have kids? What? It's cool to like money before you have kids lol
      Jan 6
    • Intel &&-9jj
      Housing appreciation after tax, maintenance, and transfer fees is no greater than inflation,
      particularly if you are living there less than 5 years. So then your only argument is whether the risk/reward of 5-10x leverage is worth it. It’s worked out for a generation as rates have declined from 20% to 3%, but that trend is over.

      The kids part of it is that you limit your geographical mobility by purchasing. That means you limit yourself on job opportunities, future spouses, school districts, etc. It’s only worth it when there is stability for your kids and the value of creating memories with your family in something you own.
      Jan 6
    • Facebook public2
      Ahh the difference is I would never sell property. Historical appreciation on real estate is 1% correct; cash flow is great though.
      Jan 6
    • Not true in Bay Area
      Jan 7
    • Intel &&-9jj
      Cash flow is great? You mean shelling out 10-20% down payment?

      Past returns are not indicative of future outcomes. Detroit used to have really expensive real estate also.
      Jan 7
    • Facebook public2
      Yep that is true, future outcomes can always change. The last few decades have been far better than anyone could have hoped for seattle and the bay. Let's hope it continues. Cash flow is great indeed; other people are buying me property and giving me monthly cash to invest.
      Jan 7
    • Intel / Engpleb
      @public2: You're saying to never buy condo because of little appreciation and fast fall then you say you would never sell property. Why do you care about the value if you don't plan to sell ?
      Jan 7
  • Facebook Pork chops
    How bad is the HOA? 2x2 makes sense, if the HOA isn't bad and if you don't have money saved down for a SFH down payment.
    Jan 61
    • Cisco / Design
      nasdaq

      CiscoDesign

      PRE
      Intel Corporation
      nasdaqmore
      HOA's on condos are always ridiculous in the bay area and is the biggest painpoint
      Jan 7
  • Berkeley Lab look look
    Buy a condo and rent it and you rent a house where you want.
    Jan 61
  • Apple bqdp
    A lot of engineers are young and just buying condos right now. But they’ll probably want to upgrade to a SFH once they have kids.

    New housing developments are almost exclusively condos/apartments and maybe a few townhouses. There are essentially *no* new SFH being built in desirable neighborhoods.

    So, if you’re looking for the long term, I’d bet on the house.
    Jan 60
  • Oracle iOFR21
    Buy condo close to upcoming Google campus
    Jan 64
    • New / Engggg1
      Which one?
      Jan 6
    • New Rob1729
      SJ downtown I guess
      Anyone know the exact location? And any idea on when the project would start?

      Has any location near Apple campus appreciated compared to other parts of Cupertino or Sunnyvale?

      I don’t think the google campus is going to have much impact on the SJ downtown housing prices.
      Jan 6
    • Apple bqdp
      The google project is an order of magnitude more ambitious than Apple’s. Apple Park basically only impacted Apple employees, whereas the scope of Google’s project could drastically change that whole area.
      Jan 6
    • Google euBx84
      Of course it will have major impact. They want to hire 20k workers in their new downtown sj campus. They already bought all the parcels of land they need from the government. The land is downtown sj near sap center.

      For example, new construction townhomes near flea market were 750k in 2017 August. The price jump happened very quickly. The same townhomes are 1million plus now. https://www.zillow.com/community/apex-at-berryessa-crossing/2090734826_zpid/
      Jan 6
  • Facebook public2
    Never buy a condo, land or bust.
    Jan 62
    • New b37
      Condos include land in proportion to the square footage of your unit divided by the square footage of the property.
      Jan 7
    • Facebook public2
      Lol, can you improve that land? Remodel? Disban an hoa? There is a reason condos appreciate the slowest and drop the fastest in downturns.
      Jan 7
  • New / EngScarn🎙
    Depends on your 5 year goal....want to have kids and family then 3 room better , just graduated and no plans for marriage in future then get 2 bed and share
    Jan 60
  • Bank of The West / Consultant
    GSW

    Bank of The WestConsultant

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    Cisco, eBay, NetApp, VMware
    GSWmore
    1.5m won’t grow to 2m fast enough but 500k can go to 800-900 easy...
    Jan 62
    • Google QmTN21
      Other way. Sfh supply is limited while new Th and condo will be built
      Jan 6
    • Bank of The West / Consultant
      GSW

      Bank of The WestConsultant

      PRE
      Cisco, eBay, NetApp, VMware
      GSWmore
      Sfh don’t appreciate at that price much
      Jan 6
  • LinkedIn Kwofjrjw
    Where do you see a 2x2 condo for 500k? Is it in a shady area?
    Jan 70
  • Microsoft / Eng
    wRHq76

    MicrosoftEng

    PRE
    Adobe, Google
    wRHq76more
    Would depend on your budget 🤔
    Jan 60
  • Cognizant APIPM
    House...
    Jan 60

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