If you own a $1M+ home ...

Amazon chdad
Mar 6 52 Comments

Eyeing to buy a $1.5M home. Curious to know financial position of others who own a similar house. If you own one, post the following:

House Price:
Down payment:
Base pay and TC:
Net-worth (all savings and assets but not the downpayment):

comments

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TOP 52 Comments
  • 3.5m home, 2m down, 500k TC, 5m nw
    Mar 68
    • Cadence Wonder.
      Nicely done Uber.. what drove your down cash accumulation?
      Mar 6
    • Cash out from being an early engineer at a previous startup before Uber.
      Mar 6
    • Cadence Wonder.
      Thanks and well done...
      Mar 6
    • Amazon chdad
      OP
      Wow. Please tell me your are at least 45 years old.
      Mar 6
    • No I'm in my 30s
      Mar 6
    • Amazon chdad
      OP
      Wow, thanks awesome. Good for you. How did you get to 5M at such young age.
      Mar 6
    • Cadence Wonder.
      He explained.. startup exit and house appreciation
      Mar 6
    • I can pay off my mortgage if I want. I chose to keep it at 1.5m mortgage because of wife plus I file single due to not legally married and I'm taking advantage of the 750k per person interest deduction with a 3.5% interest rate and have it in index funds instead. Housing market can go up and down short term yes but long term this is the right financial decision to me. To each his/her own I guess.
      Mar 6
  • Google wqIe83
    House Price: 600,000
    Down payment: 120,000
    Base pay and TC: 220/520
    Net-worth (all savings and assets but not the downpayment): 1MM+

    I just need a decent and peaceful place to live.
    Mar 67
    • Amazon / OtherXIit65
      Where did you find a house for 600k?
      Mar 6
    • Apple hakunanaMa
      600 k where mate?
      Mar 6
    • Probably east Oakland
      Mar 6
    • Google wqIe83
      Oops, Should have mentioned Seattle area. Bought 2 years ago, now appreciated to 800.
      Mar 6
    • Dell LUHV04
      In Seattle which are good neighborhoods that are within good distance of the big companies ?

      I am currently in east coast and don’t have idea about Seattle, hence the query
      Mar 8
    • Google wqIe83
      Redmond is a good place to be, MS is in Redmond. Close to G Kirkland/Bellevue and A Bellevue. A Seattle and FB are not far away, about 30 min. New train line (2020?) helps too if you are close by. Downtown living - Bellevue, Seattle downtown. If you don't mind driving close to 1 HR, Bothell, Sammamish, Issaquah, some parts of Renton, Woodinville have good schools.
      Mar 9
    • Dell LUHV04
      Thanks man.

      May be my last question -

      Between Silicon Valley and Seattle - is Seattle a more better place in terms of family and pay ?
      Mar 9
  • BlackRock Ikqf10
    Yea, my question was what kind of investment strategies did you all follow to reach NW of where you are. Is the stock options that you receive from your companies or any other investments ?
    Mar 62
    • Microsoft shared_ptr
      Work for a company that’s pays a lot
      Mar 6
    • BlackRock Ikqf10
      Yea that’s true
      Mar 6
  • Microsoft / EngdKWp30
    No house

    TC too low 😭
    Mar 61
  • BlackRock Ikqf10
    Wow, everyone’s NW is in millions. How did you guys reach there? When calculating NW do you guys also factor in the mortgage you owe to the bank ?
    Mar 62
    • Cadence Wonder.
      I reduced my mortgage liability from my NW,
      However house appreciation is in.. my house appreciated by 0.5M and i assume many of the people replying here had the same effect.. not deducting the debts is wrong. This is very normal in the silicon valley..
      Mar 6
    • Amazon chdad
      OP
      Yes, NW is always total assets minus total liabilities.
      And yes, house appreciation should be factored in
      Mar 6
  • This comment was deleted by original commenter.

    • Airbnb Randomidxx
      Do you mind elaborating why mortgage above $750k is insane? What if you put 300k down and 1.2m mortgage. Any reason this is not a good option?
      Mar 6
    • Facebook
      R1s2x3

      Facebook

      PRE
      Google
      R1s2x3more
      Like he said, the mortgage interest deductions max out at $750k mortgage under Trumps tax plan
      Mar 6
  • Teradata cloud ⛅️
    Depressing post :-)
    Mar 61
  • Adobe 3d0bA
    House price: $1m
    Down: $200k
    Household TC: 400k
    Net worth: -$50k (I do not include house in net worth)
    Mar 90
  • Salesforce tensorchic
    OP, can you please edit the post to ask people to add the following info:
    1) net worth at the time of purchasing a home
    2) percentage of net worth they put on down payment.
    Will be helpful for people like myself who are looking to plan this.
    Mar 60
  • This comment was deleted by original commenter.

    • eBay martinw
      How long have you been at Google and is that how you have increased most of your net worth?
      Mar 6
    • Cadence Wonder.
      Assuming part of the NW is house appreciation.. which is correct to account for...
      Mar 6
    • Google / Eng
      ruminate

      GoogleEng

      PRE
      Amazon, Yahoo, Microsoft
      ruminatemore
      7 years at Google is how I got into millionaire status. And yes, home appreciation contributed quite a bit to my net worth going up. I still feel pretty middle class though and I feel like most of my colleagues do as well or better than me.
      Mar 6
    • Cadence Wonder.
      Good job google.. we are all middle class in the valley
      Mar 6
    • eBay martinw
      Do you think you can retire with $2.5 mm networth?
      Mar 6
    • Google / Eng
      ruminate

      GoogleEng

      PRE
      Amazon, Yahoo, Microsoft
      ruminatemore
      Add up all your assets (including home, 401k, brokerage, etc.) then subtract all your debts (including mortgage, student loans, etc.), that’s your net worth. Mint.com makes it easy for you to calculate with real data. I don’t think 2.5MM is enough for the Bay Area, plan to eventually move away.
      Mar 6
  • Amazon williamxq
    House Price - 990k
    Down payment - 230k
    Basepay and TC (160/520) (spouse also has 160 & 450k). Our TCs were lower when Amazon stock was at 500 when we sold it to pay down payment)
    Network - 1.4MM
    Mar 62
    • Amazon chdad
      OP
      Wow, modest home considering almost a million dollars in TC
      Mar 6
    • Lyft yGoF22
      So you both were given more than $1 million in stock. Can I know your YOE?
      Mar 6
  • Facebook / Product
    Nebz

    FacebookProduct

    PRE
    Facebook
    Nebzmore
    House price target: $1.5M
    Down payment: 400k
    TC: me and my partner combine for 420k base pay.
    Networth: collectively ~1M
    Mar 60
  • Amazon chdad
    OP
    OP here. Figured I should post the same info I ask if others.
    House price target: $1.5M
    Down payment: 400K
    TC: 380k
    Net worth: $1.5M in stocks + 100k emergency cash
    Mar 62
  • BlackRock Ikqf10
    Got it, thanks. I’m curious to know what was your investment strategies in getting there. I’m no way close to your range as of now
    Mar 61
    • Cadence Wonder.
      Blackrock focus on your down payment and your monthly payment. If you can target 1M (rare these days), with 15%down your monthly will be around 4k...
      Mar 6
  • Forget buying a home. Rent and use the extra cash to invest in multi family apartments. The Bay Area is in a full sellers market, and you’ll be locking yourself into a multi decade contract of debt
    Mar 61
  • Microsoft / Enghbchhc
    What price and down payment should we realistically target if TC is 350 and we have little debt?

    Seattle East side desired for context. Looking for other's experience, calculators online seem aggressive.
    Mar 61
    • Microsoft shared_ptr
      East side house... expect around 1 million. Expect at least 20% down.
      Mar 6
  • Cadence Wonder.
    House 960k (2.5 yrs ago)
    Down 150k
    Tc 520k - base 220k+
    NW 1M
    Mar 60
  • eBay
    gullyboi

    eBay

    PRE
    eBay
    gullyboimore
    Following
    Mar 60

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