Housing

Want to save rent and buy less expensive apartment

Yahoo iaurbsnsk
Mar 9

I work in Sunnyvale. Where should I start exploring to buy a condo or an apartment to start saving the high rent I’m paying?
I don’t want to buy a million dollar house. Looking for something ~300-500k. We are just two people.
Any place with commute to and from sunnyvale is recommended. I’m new with this kinda search so need some guidance.
Thanks

comments

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  • New New •
    300k? You both plan to buy just the bathroom?
    Mar 91
    • Salesforce Belgium
      Only the commode in the bathroom
      Mar 9
  • Buy a good RV and you still have $100K left.
    Mar 92
    • New New •
      Lol this is funny
      Mar 9
    • Microsoft
      tech.ladki

      Microsoft

      PRE
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      tech.ladkimore
      Your down payment will likely appreciate. Your RV will not!
      Mar 9
  • Ok. First thing first. There is nothing for 300-500k.
    Second thing, look at the buy to rent ratio in the bay. It is the highest in the whole country, which should indicate that while Rents are stupidly high, buying is nonsensical high compared to renting.
    If you really do the math you will realize that unless the housing market goes 5+%a year (and it will not) , you will be losing money in the Long term.

    Continue renting, Invest your potential down payment and wait for a better time to buy
    Mar 93
    • Salesforce Belgium
      When was the last time the housing bubble popped after 2008 in the Bay Area? Would it make sense even to wait?
      Mar 9
    • It didn't pop since 2008. That thing alone is a red flag. Look at the inventory also. SF is becoming a buyer market , inventory is peaking and you have way more price cuts over the last weeks.
      My point is more that buying doesn't make too much sense in my opinion when you look at the price of renting right now in the. Bay area.. You need to make prediction, but with the current market I'm ok to rent forever and invest in other assets.

      Too many people make the mistake to be overly attached to "own a house". Owning a house is not that different than renting a place. Do the one that makes the most sense economically. Don't be stubborn to want to buy whatever happens!
      Mar 9
    • Salesforce Belgium
      Sure, but buying was supposed to be a non-logical decision 4 years back as well. Those who bought then have their homes appreciate by 40%
      Mar 9
  • Google
    tsukino

    Google

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    w
    tsukinomore
    Buying a balcony, anyone?
    Mar 90
  • Western Digital xfcs35
    Sacramento?
    Mar 95
    • Cadence / ProductBettyBabe
      Valid option but too far to commute to Sunnyvale
      Mar 9
    • Western Digital xfcs35
      Then Tracy.. yes I know ppl doing it
      Mar 9
    • Cadence / ProductBettyBabe
      Tracy doable ... probably 1.5hr commute each way?
      Mar 9
    • Western Digital xfcs35
      Maybe less if you carpool or, if you have flexible work hrs.
      Mar 9
    • Microsoft
      tech.ladki

      Microsoft

      PRE
      Google
      tech.ladkimore
      You can always rent in the Bay, and own in Sacramento (and Rent it out there).
      The problem is Sac doesn't see as much appreciation as the Bay, and call be hot harder during recession.
      Mar 9
  • Google tGtt04
    I know of folks who live in Tahoe and split a private plane commute....?
    Mar 90
  • Cadence / ProductBettyBabe
    East san jose 2 years ago
    Mar 90
  • Apple gt902
    For a person who works in real estate part time, I’ll add this. The Bay Area market, more specifically the Sunnyvale, Santa Clara, and San Jose is still going strong. It did slow down last fall and winter but is picking up over the last couple of weeks. The housing price index when it last hit its low was back in 2012. If you bought then, as of last quarter you’d be making double the sale price. Last year alone the index jumped 11%.

    As for finding something in that 300 to 500k price point, maybe a condo? But you’ll have to look in Santa Cruz, Morgan Hill or east bay. If you find something here with that price, expect it to sell for 800k plus with the bidding war that would ensue.
    Mar 100
  • Oracle tamatar
    Sunnyvale 15+ years ago
    Mar 90

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