TC: 600k combined (Bay Area) Stocks: vested 530k (google) + vested 200k (Amazon) Cash: 180k 401k - 250k all in stocks - qqq, sp500 etc 120k - real estate property in India Both of us on H1b, i140 approved. Age: 30 What budget I should target to buy home ? Currently renting in Sunnyvale - 2.6k rent/month
1.8 - 2.5 million
What are your other expenses? How much would it cost to rent? How optimistic are you about real estate in your locale continuing to appreciate? What mortgage rate can you get? I've always felt really uneasy having a large portion of my net worth tied up in an illiquid asset (e.g., a house). At the very least, you want to make sure that you have enough in cash (or something else really stable as liquid like a money market) to cover your expenses for 6-12 months if one or both of you get laid off. You don't want to have to sell your house in a panic, potentially for a loss, because you thought the high TC would last forever. You didn't ask, but I also would think carefully about buying a house on a visa (if you don't yet have a green card or citizenship). Losing an employer sponsored visa is the other scenario that might force you into selling in a panic at a loss.
First off, fuck you. Now buy anywhere from 10-15% above asking price to fuck everyone else
Sour loser of capitalism
180 k is low down payment. You need to sell vested stocks to get close to 300 for 1.5m home
Which location are you in?
Bay Area. Currently renting in Sunnyvale
2m you'll get a good house with good schools and location
You are screwed. Once you are used to Sunnyvale, you will have to stick to Sunnyvale and Cupertino. Sunnyvale is like 2.6-2.8 these days and no inventory other than something with foundational issues cracks etc. Cupertino is 2.8 - 3.2 kinds. During bidding war you will have to throw money at it. Your financial posture looks somewhat like ours and we struggled to get a good house in Sunnyvale and Cupertino, now bought in San jose that too with bidding war as rhe house looked nice. 1 strong bidder is sufficient to screw us up even in this market. You can likely afford 2.5M be ready to stretch 200k more. Bid the right amount if you like the house but won't cry if you lose. Throw 100k above what makes sense to you if you love the house. Else hard to get. Good luck.
Sunnyvale is the worst place I have ever lived. Lived in the bay for 12 years.
I love the parks, tree lined streets, proximity to all major shops and other cities.
You can compute, for free, your odds of success in paying your mortgage payments comfortably based on your unique inputs. Here is a 45 sec "how to" on twitter... https://x.com/PaymentJock/status/1757215710986829925 Here are longer YouTube videos you might find helpful on the subject. https://www.youtube.com/@paymentjock/featured
You can buy about $2.7M I would say. Get a home in Cupertino school district in Sunnyvale. Can save $800k on private school fees as the Cupertino schools are the closest to private that you can get
First step should be not having 80% of your net worth in two individual companies. Sorry, I just had to say it.
Have you heard of Nvidia ? :p
Do you know Warren Buffet only invests in a handful of companies?