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How much house can I afford in the Bay area?

Indeed / MgmtClassico
Nov 26

I'm looking for housing between South SF and mountain view. I've got around 500K for a down payment and make $280K base/yr. I have around 200K/yr equity additional that won't be sellable for a few years.

What price range should I be looking at? Online calculators seem to suggest 1.8M to 2.1M. Seems so high but maybe it's fine...

Made this a poll to get more engagement but please feel free to elaborate.

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  • Microsoft PMM’d
    How much house do you NEED?
    Nov 262
  • Uber / EngWhoober
    Indeed pays 280k base? Level??
    Nov 271
    • Uber yo mom
      Is this guy the CEO?
      Nov 27
  • Facebook LHkd64
    To give you a comparison, we ( a couple) earn 350k a year, had 300k down payment on a 1mil place. Took out a 30yr mortgage. We have enough cushion each month to not be stressed.
    Nov 271
  • Dolby
    MoreTaco

    Dolby

    BIO
    Just browsing. Very happy at current company.
    MoreTacomore
    Don’t buy a house now! Prices will crash! It’s all a sham.
    Nov 270
  • Reddit pzqf14
    A few pieces of advice

    1. Talk to a real estate agent and a bank or two. You can afford any fees.

    2. The housing market is tightening, and I (along with many, *many* others) expect it to tighten further due to the incoming trade war, volatile SA relations, and market corrections. (That long over due bear market is really gonna hurt).

    3. If you want rough numbers, it sorta depends on your lifestyle and expenses, but for a 30 year that range that you gave makes sense. However, a bank will happily give you more than you need. You do not need a 3m home that won't hold its value. You might need an apartment and fat savings for the next 3 years to ride out price deflation.
    Nov 271
    • Lyft IHateSF
      It's tightening more because interest rates are rising. On a million dollar mortgage every quarter percent hike is $100/month. Which means a 1.5% hike is $600/month. Pushes barely affordable out of reach.
      Nov 27
  • Cisco / OtherGWFy08
    Why do u guys think housing market might tighten , there is still a lot of shortage in Bay Area
    I see number of offers going down , but people still buying
    Nov 270
  • Intel Iffno
    Those online calculators don’t take into account state taxes, so in CA you should reduce whatever they say by 10%.
    Nov 272
  • Move JUvY31
    That is the highest tc I have ever seen for indeed. Are you vp?
    Nov 272
    • Indeed / MgmtClassico
      OP
      This is for an upcoming role. That being said, lv4 at Indeed pays this much.
      Nov 27
    • Facebook supichai
      Way overpaid
      Nov 27
  • Twitter Wax paper
    I doubt indeed pay that much.
    Nov 271
    • Indeed / MgmtClassico
      OP
      This is for a role outside Indeed, but Indeed absolutely pays this much for SWE4 and above, and even for top-performing SWE3s in some markets.
      Nov 27
  • Google xkvpspecmg
    With your base, I think you'll easily qualify for a loan on a 2.4M house with 20% down. If you can show additional consistent income like bonus, dividends, equity etc for at least a couple of years, you could qualify for more.
    Nov 270

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