Moving from Dallas to Seattle (Redmond area).
Family of 4, we currently live comfortably in a 3300sqft home. We know we’ll need to downsize to probably around 2000sqft.
We’d like to be in a good school district, but as you can imagine the prices a super high.
That said, with a comp of 165k Base, 25k bonus and 20k rsu and 200k in down payment and no debt otherwise, what range do you guys think we should be looking at?
Currently looking in the 700k-1M range, but not sure if that’s stretching it too much.
Other question is... should we rent for a year or so, to see where the market is going? (We’d prefer not to, so the kids don’t have to change schools many times)
Thanks in advance for any advice you may have!
- New / OtherTarotmoreHow are ppl buying these $1M on less than $200k salary with one income and kids? How do yall budget? Maybe I travel too damn much.
- Traffic needs to be considered... north or south you will spend most of your time in commuting... east... not so bad, less expensive and schools are top rated
- IBM drnknbluBought my home for cash. Still live rent free. This is one place size doesn’t matter for this gal. ;)
- Databricks Gjmxea$20k RSUs & $165k base salary per year to pay for a $500k-$800k mortgage plus family expenses?!? ~$3,500/month PITI for $500k mortgage or ~$5,400/month for $800k mortgage on ~$12,000/month take home pay (assuming tax rate of 20%). Your lower bound would be closer to my upper bound with a more conservative approach.
- Microsoft Bombsh3llBest school districts are in Bellevue with lake Washington behind.
House prices dropping so I would wait.
- Juniper UpworkerRenting will save you on taxes, they are very high compared to Dallas.. i say rentnfor a year until you get a feel for the area you like.. Woodinville was close to the Dallas feel for us with larger yards and non cookie cutter homes.
- New techyogiWait a year. Downside risk is higher than upside risk. You will likely not get priced out if you wait but you may save a bunch or get a better home for the same amount of money if the downside materializes. China which was touted as the biggest source of investments in housing is clearly slowing down so the capital inflow from there will be much slower and if the amzn, Msft stocks crash - look out below.
- Buy if you think you will stay in Seattle area for long term (~10 years). do you have second income ? If so 750-1m is a very good range. For one income would probably look at lower end of spectrum.
- Afiniti JMXK67Try North pointe neighborhood in Mill Creek, lots of Microsoft employees live there. You could easily get a huge newer house for way less. The schools are good.