So me and my fiance just finished our current lease and moved into airbnb for a couple of months. I have a job change which will pay me ~420k and my fiance finished her nursing school and is searching for a job. Guesstimating her pay should be close to 120-130k. she is a citizen, i am not. Now that the logistics are out of the way, question is should we buy or rent?
Uncertainities:
Both starting new jobs
Recession and the overall economic situation
Housing market might see a correction next year(or not?)
Certainities:
Since she is starting as an RN i am fairly confident in her job stability, not to mention her past medical experinece.
My new company is very stable but its a new team and all that(imposter syndrome)
Budget wise i was looking at 1–1.2 million so that we dont over stretch and worst case payments can be made from her salary.
On the other hand we are young and don’t know what we will do with a house other than building some equity in san jose/milpitas. We love san francisco and the rental market right now is so freaking good. We just don’t want to put another 30k after taxes in someone else’s pocket.
although a certain 5% correction on housing prices amounts to 50k for a million dollar home and paying 30k in rent and buying next year still gives a 20k benefit. Ofcourse i am overlooking property taxes and a lot of other factors.
#mortgage #housing #sanfrancisco
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