I don't have enormous amounts of money, but I think a 3 BR freehold home is a good investment basically no matter what your plans are. I plan on house hacking, while I'm not married, and when I do get married I can grow into that home with kids. What's a good city to buy? I can probably afford 1M by EOY, or should I save up a few more years to buy a nicer place? I work out of LinkedIn's south bay office. At 1M I think my options would have a shitty commute. Ideally my commute is less than 45 minutes each way. TC: 210K
You could try South San Jose.
Yeah south san jose or north san jose since you are single
I am not from the Bay Area. Are 3BR SFH in San Jose are also over 1M?
Yes
I am from East Coast, owning a ~500K 3BR home (25 min driving/45 minute subway commute)making 300k+ TC. The TC:Mortgage ratio in West Coast doesn’t make sense at all.
$1m + 3bd SFH + 45m commute is gonna be tough if not impossible. Sh*t it took me nearly 40m last week just to get from Palo to Santa Clara for a happy hour mid afternoon. The longer you wait and save, the better. And if recession hits and drags down prices a bit, you'll be ready to bounce. That's probably what I would do given your parameters. Otherwise you're very limited on options. Create a Zillow search, have a broker lined up, and monitor closely.
Try Campbell, West San Jose area
Have no idea. Thinking about moving from San Jose to Sunnyvale or Mountain View, but this is freaking expensive. So far, just waiting
My wife and I just bought a 2 beds / 2 baths house in Willow Glenn (San Jose area) for $1.245M. We looked at many houses in the San Jose area and anything under $1M will be a shithole (sorry for the expression). To get something nice you really need at least $1.2M. At least prices are down compared to last year and you can get a really good interest rate if you have an excellent credit score. Good luck mate. Do note we only looked at some areas in the San Jose area so your mileage might vary if you look further away
Any more specific location? Presumably this is US, what state? SF, SEA, NYC?? 1 million goes a lot farther in Austin...
Oops sorry I should have mentioned SF Bay area