Can I buy with a 100k salary and 80k down payment?
I’m planning on relocating from the Midwest and would like to buy a condo in the Bay Area. Is it possible with this kind of salary and down payment?
I’m thinking on buying in Oakland. Is that a bad area?
Oakland is up and coming
Depends on if you value your life or not. Also, if the bay area takes a dip how do you think it will impact East Bay? Not sure, but something to consider
Why do you want to live in Oakland, check out for the crimes. It's in top 5 in US as regards crime rate.
I don't even want to drive down the fucking street in Oakland during the day.
You obviously never did your research throughly, Just because the address says Oakland as the city doesn't mean it is bad, Area like Piedmont is actually most likely more decent than where you live now.
100k is poverty in the Bay Area. Don't do it.
150-160k is when you start getting into middle class for those who wonder
Not really. 150k is the minimum if you're a single income earner who doesn't want to live in a shithole but also doesn't want a roommate and you like to go out to eat a few times a week. I'd say 180 base is comfortable and would allow for a newer car and savings
Really is Oakland that bad? I have a coworker who moved into a 1.5 M home with her husband in the north hills area with their young kids
Oakland is big, some part is ok some part is homicide capital of the US, Tupac grew up there I think.
Tupac also went to an arts high school and starred in their rendition of Hamlet lol..what's your point
I’d rather not rent if possible because I’d like to build equity
On that salary though you really don't have much of an option. Even if you could, one unexpected repair would sink you. Work on the career and rent for a few years.
The home you can afford won't build you much equity if the market ever correct.
Hmm ok after consulting some people it seems several people who make like 3 or 5 times more than that live in the Oakland area. Guess it’s just personal preference
No it's not. Those prior making 3x - 5x are living in 2-5 $M homes. It's technically Oakland but it's not the Oakland you'd be able to afford at $100k. Look further south down the East Bay. San Leandro, Fremont, etc. And if you don't want a highvcrime area at best you'll get a 1-2 bedroom condo.
If you don't care for top school you can get a small 2 bdrm condo for that easily.
With limited budget and your company’s location , Daly City and SSF and San burno) , East Palo Alto , alviso. Is way safer than Oakland and relatively reasonable priced
Thanks for the tip
Nope
You won't get a condo below 800/900k in any decent locality. Don't want to discourage, but it does not sound practical
You can get a condo, townhouse or a 4 bedroom house in east bay. Pretty nice if you work for a company that has shuttles in the east bay. Freemont is pretty nice for Facebook employees with so many shuttle. Nice new homes for 1.1m and homes from 1960s in the 900ks. Bunch of Facebook employees moving there since it's affordable and easy commute.
Since there's small homes in the 700k/800k you can probably find a condo in Union city in your budget and it's probably safer than Oakland.