I'm looking at Saratoga/Cupertino right now, any thoughts/comments/suggestions? This will be my first home purchase. Have two young kids, wife and I are early 30s. Single income, wife is SAHM. Worried about market top but don't really spend money on anything either. Thanks in advance! EDIT* 500K TC, 500k down payment. Have around 150k in savings accounts, no other assets other than the down payment.
Might be a bit tight, but you can afford it.
I wouldn't spend more than 30% of my net worth on real estate.
You are so much ahead In life for an early 30's person. Good for you :)
Pass
You can’t afford that home.
After tax take home pay technically covers all costs, I'm more concerned about market crashing. It is a bit tight though.
Again. Sorry but you can’t. Sounds like you never owned a home.
Both of you work at netflix? If yes may be yes you can think
Saratoga will be a good choice. Great location and neighborhood.
Do you have savings outside the downpayment? Should protect yourself for a loss of a job - understand that likelihood of that is low and you will find another job soon but with a $2M mortgage, you’ll drain funds quickly.
Not really, would be putting it all into the house. That's a good point, ill add that to the origin post as well.
Don't go for this costly a house, or may be wait sometime
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TC progression. Estimated to hit $1M+ this year. AMA
3x or 4x TC should be your target. Dont stretch beyond your means. Also add monthly expenses - private schools, etc
Yeah, it feels like quite a gamble. Thanks for your input