TC : 330k Cash for Down Payment : 700k Emergency fund for 9 months in place Saving after down payment: 150k (Stocks) 401k: 350k Current rent : 5k Current monthly living exp: 5.5k Single income 1 kid entering elementary school Town home in south bay Price target: 1.5M including bidding and initial repairs If suggestion is no, should I wait for interest rates to drop?
How do you have so much cash? Did you sell a different property or liquidated some stocks?
Sold old house and sold initial rsu grant
Buy it and refinance when interest rates fall
When or if?
Your mortgage will be low af with $700k down
An 800k mortgage at 7% is still 5kish
Don't forget property taxes, and HOA. You could be looking at 7k monthly payment for PITIA. There's also closing costs which will slightly eat into your down payment.
Go for it I think you can buy 1.8m home best of luck don't wait
Real estate agent spotted
🤠
What if you get laid off, don't get another job for a year, and that one is half your current TC? Not exactly rare nowadays.
3 months and he will be out of the country anyway.
Very valid concern. How do people prepare for this concern?
U sold RSU, paid taxes and still have 700k cash. Bruh u don’t even need to ask this question. Go ahead but I wud minimize the down payment and dump it in savings for now.
Yeah, second ^. Extend your runway much as possible, assuming you would get laid off tomorrow.
Bro you have 700k saved up and you are questioning if you can afford 1.5 mil townhome. Ofcourse you can
I think his worry is more wrt to being a single income household. Can’t think of any other logical reason
How old are you?
You should just spend the 700k on drugs and escorts.
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How did you manage such a large downpayment
That's what I'm trying to figure out.
AAPL rsu maybe.