HousingDec 6, 2018

What can i afford

I make tc 285k lmts @ salesforce, base of 210k Wife makes 200k as a consultant, base of 150k We are 28..No kids and no debt, we have about 550k in cash and index funds Thinking of buying a home for 1.3m in bay area Good/bad idea? What do you think is a reasonable budget

Apple Uryo63 Dec 6, 2018

With that much cash and income you can afford most houses

Facebook superjump Dec 6, 2018

Yo man, nothing to contribute but just wanted to congratulate you on a successful life so far

Amazon ezCW58 Dec 6, 2018

Dude you too, FB engineer? You got it made you smart person!

Facebook superjump Dec 6, 2018

Fugly Asian dude with no GF prospects πŸ˜‚. I should really try harder to find a girlfriend.

Uber qcdo81 Dec 6, 2018

Fuck you.

Salesforce ORCG26 OP Dec 6, 2018

Typical uber employee

Uber qcdo81 Dec 6, 2018

So long as we’re generalizing by company, typical salesforce employee to not know what he can/can’t afford and goes to Blind to ask.

Splunk 🧐🧐🧐2 Dec 6, 2018

Why not 2M? Congrats!

New
AuntHilda Dec 6, 2018

I think you can put downpayment of 10% and that should do. Considering that, you can easily afford a house with $2M in value and still be fine. Don't get tripped on paying up the mortgage quickly than needed. Congratulations for the success. Happy for you guys.

Lyft JSBG53 Dec 7, 2018

why do you advise them not to worry about paying the mortgage quickly?

New
AuntHilda Dec 7, 2018

Let me try to clarify. It is my personal opinion and may not be the best advise. The mortgage rates are 4-5% while you can invest that same money elsewhere and likely earn more than what you will pay for mortgage. US Tbills pay 3%, certain fixed income securities pay 4% and several stocks will guaranteed pay more than 4%. So that's why I recommended.

Apple gfring Dec 6, 2018

So happy for you!

Facebook usXN62 Dec 6, 2018

As someone just starting off, goals πŸ™ŒπŸ½πŸ™ŒπŸ½

Yahoo yoath2 Dec 6, 2018

Similar situation. Bought house around the same price point. 30% down to get better rates.

Adobe Zxcvbasdfg Dec 6, 2018

We were similar profile about 10 years ago. We bought 1.1 M with 400k down. A few years down the road, we bought 2 rental properties so life is now comfortable and 1 income can support the family (with a kid now). I am older than most here and conservative. I went through 2 recessions so I am usually careful not to get too tied up with mortgage and property tax.

WeWork TaylorHart Dec 6, 2018

Congrats man, hope to be right there with you with my lady in a few years