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
Yo man, nothing to contribute but just wanted to congratulate you on a successful life so far
Dude you too, FB engineer? You got it made you smart person!
Fugly Asian dude with no GF prospects π. I should really try harder to find a girlfriend.
Fuck you.
Typical uber employee
So long as weβre generalizing by company, typical salesforce employee to not know what he can/canβt afford and goes to Blind to ask.
Why not 2M? Congrats!
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.
why do you advise them not to worry about paying the mortgage quickly?
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.
So happy for you!
As someone just starting off, goals ππ½ππ½
Similar situation. Bought house around the same price point. 30% down to get better rates.
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.
Congrats man, hope to be right there with you with my lady in a few years
With that much cash and income you can afford most houses