Me: - TC 205 (startup, so all base) - 30 years old - Nest egg of $130k - Paying >3k rent in SF right now and want to own for variety of personal reasons I'm planning to buy and live in a (strongly prefer a detached) home #housing for 700-830k, around 6-8% down. I've seen some houses in that range in both cities, usually 1100-1400 square feet which is fine. Any opinions on what I'd be missing out in this range, I'm all ears. Can't afford much more without a jumbo loan. Numbers line up though it'd be bit high monthly payments until I get rid of private #mortgage insurance. I've been looking at variety of west coast cities and have settled on either Seattle or San Diego. Any opinions on which city is better? I'm open to areas surrounding the city, e.g. La Mesa, CA. Want to try sticking to sub-30 minute commute to downtown.
San Diego.
To live in? San Diego
Detached house for 800k in Seattle I would also say is a very very long shot
This is not true, plenty of houses possible in this range in Seattle, just not the good ones.
What am I missing if I get a "not good one"?
800k is impossible for a “decent” single family home in San Diego. Do your own research. Its a very very very long shot.
Have found multiple in some neighborhoods 20-30 minutes away from downtown, e.g. multiple in La Mesa. What am I missing?
Well La Mesa or San Marcos is not San Diego. Its like Livermore vs the Bay Area
Good luck finding something decent for that price range in those areas. Might be a bit difficult to find a lender as well since you would need to spend more than 50% of your income just for housing.
Total numbers come to 25% of my income, so lenders don't have a problem giving max amount of non-jumbo mortgage.
Lenders will not take into account your private stock, only base. After taxes you would need to pay more than 50% of your income so it’s quite risky for them.
Look like your had an impression about San Diego or Seattle is very affordable. They are more reasonable than Sillicon valley but still crazily expensive.
Setup a poll
You can consider Chula vista San Marcos or la mesa but do check out the neighborhood first
Where in Seattle are you finding a detached home for 800K?
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Detached house for 800k in san diego. I would say its a very very long shot.